Lactic Acid and Poly Lactic Acid (PLA) -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2024
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. 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 was valued at 700 million US$ in 2018 and will 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.
For each manufacturer covered, this report analyzes their Lactic Acid and Poly Lactic Acid (PLA) manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.
The following manufacturers are covered:
Henan Jindan Lactic Acid Technology
Wei Mon Industry
The research report includes segmentation of the Coating Equipment market based on various factors such as product or service type, application, end use, deployment, along with a regional segmentation. The segment-wise analysis of the Coating Equipment market helps to provide a detailed and accurate perspective of the market in terms of growth and consumer behaviour according to the segment. Geographically, the report splits the market into different regions and provides an in-depth view of the performance of each region in terms of sales revenue, past consumption and future prospects, vis a vis the others on a global scale.
Segment by Type
Poly Lactic Acid (PLA)
Segment by Application
Petroleum Based Products
The research methodology adopted for this report includes market research tools such as Porter’s Five Forces Model and an in-depth SWOT analysis to analyse this market during the projected assessment period, based on historical market research data, and enable the target audience for this study, to make better and more informed decisions with regard to this market.
Table of Contents
8 Lactic Acid and Poly Lactic Acid (PLA) Major Manufacturers Analysis
8.2 Danimer Scientific
8.3 Henan Jindan Lactic Acid Technology
8.4 Synbra Technology
8.5 Dow Chemical
8.9 Wei Mon Industry
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Source: EIN Presswire