Lactic Acid Market Projected to Reach $4,840.1 Million by 2019

The report, “Lactic Acid Market by Application (Biodegradable Polymer, Food & Beverage, Personal Care & Pharmaceutical) & Polylactic Acid Market by Application (Packaging, Agriculture, Automobile, Electronics, Textile) & Geography - Global Trends & Forecasts to 2019” defines the lactic acid and polylactic acid markets and segments with analyses and projections of the size of each market, based on their sub-segments, in terms of value and volume. It also identifies the driving and restraining factors for the lactic acid and polylactic acid markets with analyses of trends, opportunities, burning issues, and winning imperatives.

Lactic acid is the simplest hydroxyl-carboxylic acid with an asymmetrical carbon atom. The main applications of lactic acid lie in the biodegradable polymer, food and beverage, personal care product, and pharmaceutical industries. Lactic acid is used in the production of PLA plastics, which are mainly used in packaging products that comply with the environmental norms. PLA has emerged as one of the most popular biodegradable plastics available in the market. PLA finds significant number of applications in the food packaging industry, especially in frozen foods, ready-to-eat meals, and cutlery. Increasing awareness regarding the consequences on the environment as a result of the use of conventional plastic packaging is projected to drive the demand for PLA. Europe is the most dominant market for PLA; while Asia-Pacific, owing to significant domestic demand, is projected to be the fastest-growing market in the next five years.

Browse 138 market data tables, 33 figures spread through 259 pages and in-depth TOC on Lactic acid Market.
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Lactic Acid Market report gives key information of the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level, along with region-wise markets and key developments in the lactic acid and polylactic acid markets. Extensive qualitative and further quantitative analyses were also carried out from all the numbers arrived at in the complete market engineering process, to list out key information.

The lactic acid and poly lactic acid markets are driven by the key market players with new product launches as their preferred strategy to sustain the competition in the market.

In 2013, packaging was the largest application for the PLA market, followed by textiles. The others segment includes biomedical devices and domestic goods. The polylactic acid market is witnessing a high growth owing to increasing awareness among consumers and plastic manufacturers regarding the environment, coupled with support from government legislations and increasing landfill waste in various regions. Polylactic acid is not only a biodegradable polymer, but is also a complete bio-based polymer. The global climate change-related issues are projected to drive the demand for PLA in various applications such as food packaging films, food packaging trays, agricultural mulch film, electronic appliances, automotive components, products made from injection molding process, and textiles. The polylactic acid market is projected to be worth $5,010.7 million by 2019, and is projected to grow at a CAGR of 20.8% in the next five years. In recent years, in the food & beverage industry, the demand for PLA has become greater when compared to that of lactic acid. PLA usage, especially in the plastics packaging, containers, and cutlery markets, is being highly promoted owing to increasing regulatory concerns and environment friendly characteristics.

The market for lactic acid is growing as it is largely used in various industrial applications such as in biodegradable polymers, food & beverages, personal care products, and pharmaceutical industries. The lactic acid market is mainly driven by its end-use industries.

In 2013, Biodegradable polymers formed the largest application for lactic acid, followed by food and beverages. The lactic acid market is estimated to grow at a CAGR of 18.8% from 2014 to reach $3,577.5 million by 2019.

The report includes development strategies and product portfolios of the leading companies. The profiles of leading companies such as Nature works LLC (U.S.), Synbra Technology B.V (Netherlands), Purac (Netherlands) have been included in the report. The report further provides qualitative analysis of the prominent market players and their preferred development strategies.

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