January 21, 2019: A publication on the “Global Lactic acid and Polylactic Acid Market Size 2017, End-Use Analysis for [Lactic Acid (Industrial, Food And Beverages, Pharmaceuticals, Personal Care) & Polylactic Acid (Packaging, Agriculture, Electronics, Textiles)], Region And Forecast, 2018-2025” was published by Adroit Market Research. The report includes market estimations and forecast for global lactic acid and polylactic acid market size between 2015 and 2025. The research study also includes lactic acid market size and forecast at a regional and country level. Analytical models such as PESTEL and Porter’s Five Forces are also given for the global lactic acid and polylactic acid market. Furthermore, the study includes global lactic acid and polylactic acid market dynamics including drivers, restraints, and opportunities. The report provides an exhaustive study on the global lactic acid market growth. The report also separately covers the global poly lactic acid market trends. The report is tailored in a manner which gives an overview of polylactic acid and its monomer lactic acid at a global, regional and country level deep dive.
The global lactic acid and polylactic acid market size, together, are anticipated to be valued at USD 5.48 billion in 2025. Lactic acid is an organic acid that finds several applications across diverse industry verticals such as food & beverage, pharmaceutical, personal care among others. Polylactic acid, a polymer of lactic acid, is among the most widely adopted bioplastics which find application in packaging, textiles, electronics, and agriculture among others. Growing usage across end-user industries coupled with growing adoption for bioplastics is projected to boost the growth for global lactic acid and polylactic acid market over the forecast period.
Polylactic acid is produced by polymerization of lactic acid, is regarded among the innovative bioplastics that are propelling the demand for bioplastics industry. Polylactic acid, among other bioplastics, is an alternative for the traditional plastics which exhibits properties of traditional plastics coupled with benefits of being biodegradable in nature. Therefore, owing to this, polylactic acid (PLA) market is witnessing remarkable growth across the globe.
Regional analysis of global lactic acid and polylactic acid market shows that Asia Pacific is projected to witness significant growth with CAGR 19.1% over the forecast period. Rapid industrialization coupled with rapid economic growth is supporting the demand for lactic and polylactic acid in the region. China is projected to dominate the region, both in terms of production and consumption. Europe and North America are also projected to show steady growth owing to the high adoption of bioplastics due to stringent environmental regulations.
Cargill, Inc., Galactic, CELLULAC, NatureWorks LLC, Synbra Technology bv, and Weforyou GmbH are some of the key players of the global lactic acid and polylactic acid market. Owing to the robust demand, key players, especially polylactic acid manufacturers, are expanding their production capacity in order to cater to the growing customer base. For instance, in December 2018, Total Corbian, a joint venture between Total and Corbian, commenced production of polylactic acid with a capacity of 75,000 tons in Rayong, Thailand.
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