Lactic Acid Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC410

Introduction

Due to the rising demand from their end-user applications, it is expected that demand for lactic acid in global market is going to be very high. Its uses are mainly in the development of PLA plastics that are used in packaging the things that works fine with all the norms related to environment. Polylactic acid is a kind of thermoplastic polyester and is made from renewable products like corn starch, wheat, tapioca roots, and sugarcane. Polylactic acid products consists of bio-related renewable resources. Lactic acid is a sometimes colorless or yellowish, hygroscopic and odorless, sugary and very thick chemical fluid. Most often it is soluble in other fluids such as ethanol and water. Lactic acid are mostly used in refined preservative, dairy products, leather processing, textile dyeing, flavoring, development of biodegradable polymers such as PLA, with plastics manufacturers, inks, solvents, and as a rich source of calcium lactate in pharmaceuticals companies. Lactic acid is a key source for production of various other chemicals such as propylene oxide, lactate esters, 2,3-pentanedione, acrylic acid, propylene glycol, dilactide and propanoic acid. PLA is a biodegradable chemical made from purest form of lactic acid. It is among one of the major resources of resins used by bio-plastics. The various applications of PLA based plastic comprises beverages and consumer goods packaging, food packaging market, electronics, agriculture, textiles and automobiles.

 

Market Dynamics

It is analyzed that the global market of lactic acid is fueled by growth in demand for PLA in healthcare and medical sector. Increase in demand of bioplastics mixed with growing acceptation of PLA for products related to packaging is projected to surge the growth of market in the foreseeable years. It is expected that the increase in crude oil cost will drive the overall demand for PLA since maximum of plastic products are produced with the help of petroleum based raw materials. PLA is eco-friendly and compostable; hence, it is proven as a good consumer product, especially for packaging food and beverage products. Increasing demand and consumer preferences for personal use of PLA is expected to drive the growth of global lactic acid market, especially in skin care products generally used for anti-acne, anti-aging products and skin lightening. The need of bio-degradable polymers is mostly due to the increase in sustainable, biodegradable green packaging products from beverages and food industry. Further, rise in price of petroleum, minimized petroleum sources and increase in land fill mixed with worldwide concern over green-house radiation has proven into some positive policies and initiatives for bio-plastics by the makers of policy around the world, which in turn helps in fueling the overall market. 

Market Classification And Overview

The global lactic acid market can be segmented on the basis of application and region. On the basis of application, the global lactic acid market can be segmented into food & beverages, pharmaceuticals, personal care products, packaging, agriculture, automobiles, electronics, textiles and others. On the basis of region, the global lactic acid market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

 

Report Coverage

Market

Global Lactic Acid Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Application, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

 

Market Participants

Some of the major players involved in the supply of lactic acid are focusing on key market strategies such as mergers and acquisitions along with improvement in old products and innovations in new product development. They are also concentrating on bringing up new products to meet the demands in the ever-competitive market. Some of the major players in the global lactic acid market include Purac, NatureWorks LLC, Pyramid Bioplastics, Galactic, Synbra and BASF among others.

Market Segmentation

Market by Application

·         Food & beverages

·         Pharmaceuticals

·         Personal care products

·         Packaging

·         Agriculture

·         Automobiles

·         Electronics

·         Textiles

·         Others

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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