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Lactic Acid Market worth 3.82 Billion USD & Polylactic Acid Market worth 5.16 Billion USD by 2020
The report "Lactic Acid Market by Application (Biodegradable Polymer, Food & Beverage, Personal Care & Pharmaceutical) & Polylactic Acid Market by Application (Packaging, Agriculture, Automobile, Electronics, Textile), & by Geography - Global Trends & Forecasts to 2020", defines and segments the lactic acid & polylactic acid market with analyses and projections of the market size in terms of value and volume. It also identifies the driving and restraining factors of the market with analyses of the trends, opportunities, restraints, and challenges. The size of the market in key regions North America, Europe, Asia-Pacific, Africa, and the Rest of the World (RoW) has been estimated and projected.
Browse 126 market data tables, 54 figures spread through 180 pages and in-depth TOC on “Lactic Acid Market by Application (Biodegradable Polymer, Food & Beverage, Personal Care & Pharmaceutical) & Polylactic Acid Market by Application (Packaging, Agriculture, Automobile, Electronics, Textile), & by Geography - Global Trends & Forecasts to 2020”
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The analysis in the report has been conducted on various market segments derived on the basis of key applications and regions, with respect to the global lactic acid and poly lactic acid market. On the basis of application, the lactic acid market has been segmented into biodegradable polymers, food & beverages, pharmaceuticals, personal care products, and others. The poly lactic acid market has been segmented into packaging, agriculture, automobile, electronics, textiles, and others. On the other hand, the geographical analysis includes all the major regions for lactic and poly lactic acid all across the globe, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The report also includes the key market drivers and inhibitors, along with their impacts in detail.
The increasing demand for environment-friendly products and the high cost of products that are derived from petrochemical feed stocks are estimated to drive the demand for lactic acid. Lactic acid is used in the production of PLA plastics, which are mainly used in packaging products that comply with the environmental norms. Expansion of the PLA market is projected to fuel the growth of the lactic acid market. The lactic and poly lactic acid market is one of the major markets and is estimated to dominate the chemical industry from 2015 to 2020.
Rising petrochemical prices and limited fossil fuel resources are the key drivers of this market. Government regulations and growing environmental concerns are further fueling the adoption of PLA by the end users of the final products and manufacturers in industries such as packaging, textile, electronics, and transportation.
The global lactic acid market is projected to reach USD 3.82 Billion by 2020, growing at a CAGR of 18.6% during the forecast period. In 2015, North America is estimated to be the largest market for lactic acid. Asia-Pacific is projected to be the fastest-growing market for lactic acid during the forecast period. This market is driven by increasing demands for environment-friendly products and the high cost of products that are derived from petrochemical feed stocks spurs the growth of the lactic acid market.
The global polylactic acid market is projected to reach USD 5.16 Billion by 2020, growing at a CAGR of 20.9% during the forecast period. In 2015, Europe is estimated to be the largest market for polylactic acid. Asia-Pacific is projected to be the fastest-growing market for polylactic acid during the forecast period. Government regulations and growing environmental concerns are the key drivers of the PLA market.
This report is a detailed study of different regional markets, along with an analysis of various applications. It includes profiles and competitive positions of top market players in the business, such as BASF SE (Germany), CSM N.V. (The Netherlands), The Dow Chemical Company (U.S.), Teijin Ltd. (Japan), and NatureWorks LLC (U.S). Apart from the financial information, insights about the competitive position of the companies and their recent developments and strategies have been studied and included in the report.
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