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Lactic Acid & Polylactic Acid (PLA) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

 

Description


Lactic acid contains carboxyl group and hydroxyl group. This makes it an alpha hydroxyl acid. Common raw materials used in the manufacture of lactic acid include sugarcane, corn, sugar beet, and other carbohydrates sources. Lactic acid is generally produced through the fermentation process in the presence of calcium carbonate. Further downstream process results in the production of polylactic acid (PLA). This acid is widely used in the production of biodegradable plastics or bioplastics. Polylactic acid belongs to aliphatic polyesters, which are commonly considered biodegradable and compostable. The application range of lactic acid includes food industry and beverage industry; however, lactic acid is majorly employed in the production of polylactic acid (PLA). Polylactic acid (PLA) is used in automobile interiors, food packaging, and household appliances, among others. 

Lactic acid is used for commercial production in the food industry. It is used as acidic flavoring agent, buffering agent, and bacterial inhibitor in various processed foods. Lactic acid is also used in the manufacture of detergents, as it is a good soap scum remover and an antibacterial agent. Lactic acid is also employed in cosmetics to adjust acidity, as it offers keratolytic properties. Polylactic acid is primarily used in the production of biodegradable plastics. The application is mostly used for packaged food such as ready-to-eat food and frozen food. Furthermore, polylactic acid is employed in the production of various plastic-based cutleries. Polylactic acid (PLA) is also used for injection molding and blow molding to manufacture various kinds of plastics. Additionally, lactic acid is employed to produce water-soluble lactates in the pharmaceutical industry.

In terms of application of lactic acid and polylactic acid (PLA), North America is likely to become the largest market during the forecasted period. This is majorly due to increasing usage of recyclable plastics in the region. Biodegradable plastics are expected to play a significant role in environmental protection in the next few years, as these lower the amount of CO2 emission. Other factors such as increasing demand for packaged food in the region are likely to fuel the demand for lactic acid and polylactic acid (PLA). The application of biodegradable plastics has range of application which includes automotive, agriculture, packaging of food and cosmetics North America is closely followed by Europe due to favorable government policies regarding the usage of recyclable products. Asia Pacific is anticipated to be the fastest growing market for polylactic acid during the forecasted period due to rising population and increasing demand for various plastics products in the region. These factors are projected to provide positive outlook for the lactic acid and polylactic acid market during the forecast period. Furthermore, demand for these acids is estimated to rise in automotive and food industries in the near future. This trend is projected to continue during the forecast period.polylactic acid Rising price of crude oil is expected to increase the global demand for polylactic acid during the forecast period. Growth in awareness among consumers to use environmentally sustainable products over petroleum-based products is anticipated to have a positive impact on the market during the forecast period.

Global key players operating in the lactic acid and ploylactic acid (PLA) market include Synbra Technology B.V., Sulzer Ltd., NatureWorks LLC, ThyssenKrupp AG, Corbion N.V., Galactic Inc., Hitachi Ltd., and BASF SE. 

This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include 
  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

This report provides comprehensive analysis of 
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for upcoming years 

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis. 

Reasons for Buying this Report
  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth 
  • It provides a technological growth map over time to understand the industry growth rate
  • It provides a seven-year forecast assessed on the basis of how the market is predicted to grow 
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments 
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments 

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