The global lactic acid and polylactic acid market size was USD 1.54 billion in 2017. Lactic acid is a naturally occurring organic acid which has wide usage across several industry verticals such as personal care & cosmetics, food & beverage, chemical, and medical industry. It is also used as an intermediate or a starting material for various chemical compounds.
Global Lactic Acid And Polylactic Acid Market, 2015-2025 (USD Billion)
Lactic acid, when polymerized, forms polylactic acid or PLA is regarded as one of the most promising biopolymer owing to its superior properties such as high mechanical strength, low toxicity, resistance to external environment, low flammability, to name a few. Polylactic acid is getting widely adopted for producing bottles, plastic films, biodegradable medical devices among many other applications in textiles, electronics and packaging industry. Growing demand across end-user industries is projected to escalate the demand for global lactic acid and polylactic acid market over the forecast period.
Lactic acid market growth to be fueled by increasing demand across industrial & personal care applications
Lactic acid, IUPAC named as 2-hydroxypropionic acid, is among one of the most widely occurring hydroxycarboxylic acids. It is an organic acid which can be produced by fermentation or chemical synthesis. Sugarcane, corn, and cassava are some of the prominent raw materials used for the production of lactic acid.
Lactic acid finds its application in food & beverage, pharmaceutical, chemical, personal care and industrial uses that drive the lactic acid market growth. In the food & beverage industry, it is used as a preservative, acidulant and pH regulator in confectionary products, beverages, alcoholic drinks, and dairy products among others. It is used in the pharmaceutical industry as an essential ingredient in IV fluids apart from its usage in several formulations and sanitizers. In the personal care industry, lactic acid is used as a pH regulator and is a common ingredient in moisturizers, anti-acne creams, and skin whiteners.
The value of the Lactic Acid And Polylactic Acid market is projected to grow to US$ 11.51 with an estimated CAGR of 13.7% by 2031
A large number of applications of lactic acid is the key growth factor for the global lactic acid market size, but the most prominent and emerging application for lactic acid market growth is the production of polylactic acid. Polylactic acid is regarded as one of most promising biopolymer owing to its suitability across several applications such as plastic packaging products, medical equipment, and textiles among others. Industrial applications of lactic acid which include the production of polylactic acid and lactate solvents are projected to account for a dominant share in lactic acid market size with >40% over the forecast period.
Global Lactic Acid And Polylactic Acid Market Share By Region, 2025 (%)
Polylactic acid (PLA) market regarded as a growth driver for the global bioplastics industry
Polylactic acid or PLA is a thermoplastic polymer derived from organic and renewable sources such as sugar cane or corn starch. Polylactic acid is regarded as a bioplastic owing to its source of origin from biomass. It is the result of polymerization of lactic acid which can be produced by condensation or ring-opening polymerization method. It exhibits properties such as high mechanical strength, resistance from heat, moisture, chemical resistance and low flammability which is the key factor for polylactic acid (PLA) market. It is regarded as one of the innovative bioplastic material owing to its suitability for several industrial applications.
Bioplastics are increasingly adopted as the new alternative to traditional plastics owing to their eco-friendly nature. The carbon footprint of bioplastics is very low as compared with traditional plastic materials that take hundreds of years to decompose. Also, bioplastics offer better waste management options owing to which the global bioplastics industry is getting strong support from several governments as well as end users. These factors, in turn, are boosting polylactic acid (PLA) market growth.
Packaging, agriculture, textiles, electronics industry are some of the key end-use industries of polylactic acid (PLA). Polylactic acid is among the two most commonly used plastics for 3D printing which is seen as the next big potential end user for polylactic acid (PLA) market. Owing to present demand scenario for the polylactic acid industry, manufacturers are expanding their production capacity across the globe is among a prominent polylactic acid market trend.
Asia Pacific to witness phenomenal growth with CAGR >17% over the forecast period
Asia Pacific is projected to dominate the global lactic acid and polylactic acid market with CAGR exceeding 17% between 2018 and 2025. Growth across the end-use industries is projected to boost the global lactic acid market size. China is projected to show substantial growth, both in terms of production and consumption. Stringent environmental regulations across Europe and North America is the key factor to supplement demand for global lactic acid and polylactic acid market.
Cargill, Inc., Galactic, CELLULAC, NatureWorks LLC, Synbra Technology bv, and Weforyou GmbH are some of the key players operating within the global lactic acid and polylactic acid production. Rapidly growing demand for polylactic acid is the key factor to drive lactic acid production. Expansion of production capacity is one of the top poly lactic acid market trends witnessed.
Lactic Acid And Polylactic Acid Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 5.8 billion|
|Growth Rate||CAGR of 8.0 % during 2022-2030|
|Segment Covered||Material, Application, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||BASF ,Galactic, Musashino Chemical (China) Co., Ltd., Futerro, Corbion, Dow,TEIJIN LIMITED|
Key segments of the global lactic acid and polylactic acid market
Lactic Acid End Use Overview, 2015-2025 (USD Million) (Kilo Tons)
- Industrial applications
- Food and beverages
- Personal care products
Polylactic Acid End Use Overview, 2015-2025 (USD Million) (Kilo Tons)
Lactic Acid and Polylactic Acid Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa