Lactic acid is a chemical compound which is used in various biochemical processes, and is also known as milk acid. Polylactic acid, commonly referred to as PLA, is renewable thermoplastic polyester derived from corn starch, sugarcane, and tapioca roots in various parts of the world. Polylactic acid (PLA) represents the largest application segment for lactic acid. Traditionally, lactic acids were being used in the food and beverages industry, which accounted for the maximum lactic acid produced globally. But owing to a demand for sustainable plastic materials in order to reduce the impact on the environment, PLA has replaced food and beverages as the largest application of lactic acid.
Some of the major factors that are driving the growth of the global market include the growing demand for biodegradable plastic materials. Gaining cost competitiveness against its synthetic counterparts remains a major challenge for the major players. North America is the leading market for lactic acid, which accounted for approximately 35% of the global market in 2011. North America is followed by Europe and Asia-Pacific with almost an equal market share for the same year. Packaging represents the largest application for PLA primarily from the food and beverages industry. Europe is the leading market for PLA owing to stringent regulations imposed on the use of synthetic plastic materials for packaging.
Some of the major players in the market include BASF, Galactic, Naturework LLC, Phusis, Purac, and Pyramid Bioplastics Guben, among others.
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
- 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.
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