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(2019-2025) Lactic Acid and Poly Lactic Acid (PLA) Market Analysis: Companies List, Type, Application and Consumer Distribution

 

Los Angeles, CA -- (SBWIRE) -- 03/16/2019 -- Polylactide (PLA) is a biodegradable and bioactive thermoplastic aliphatic polyester derived from renewable resources, such as corn starch (in the United States and Canada), cassava roots, chips or starch (mostly in Asia), or sugarcane (in the rest of the world). In 2010, PLA had the second highest consumption volume of any bioplastic of the world.

The use of lactic acid in the manufacture of biodegradable plastics is one of the key growth factors of the lactic acid market. Rising environmental concerns due to dumping of plastics in landfills is promoting the use of bioplastics, which is indirectly benefitting the lactic acid market. Lactic acid is a carboxylic acid that is used across a host of end-use industries owing to its chemical properties. The increasing application of polylactic acid in the packaging industry is estimated to fuel growth of the polylactic acid market in the following years. The introduction of bio-based plastics and their increased usage in the food and beverage industry is expected to extend growth opportunities for the polylactic acid market in the near future.

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Polylactic is one of the most sought-after bioplastics and is an effective substitute to traditional petroleum-based plastics. Rising crude oil price are also estimated to drive the global PLA demand over the forecast period, owing to reduced dependency on traditional petroleum based products. North America is the largest market for global lactic acid & poly lactic acid market. Changing lifestyles along with rising consciousness regarding the enhancement of the overall personality of an individual in various countries including India, China, Malaysia, and Sri Lanka is expected to drive the global cosmetics market, which in turn is likely to spur growth.

The global Lactic Acid and Poly Lactic Acid (PLA) market is valued at 700 million US$ in 2018 is expected to reach 2510 million US$ by the end of 2025, growing at a CAGR of 20.1% during 2019-2025.

This report focuses on Lactic Acid and Poly Lactic Acid (PLA) volume and value at global level, regional level and company level. From a global perspective, this report represents overall Lactic Acid and Poly Lactic Acid (PLA) market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.

At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.

The following manufacturers are covered:

BASF

Danimer Scientific

Henan Jindan Lactic Acid Technology

Synbra Technology

Dow Chemical

Corbion

Natureworks

Teijin

Wei Mon Industry

Segment by Regions

North America

Europe

China

Japan

Segment by Type

Lactic Acid

Poly Lactic Acid (PLA)

Segment by Application

Industrial

Personal Care

Packaging

Petroleum Based Products

Textiles

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