The global lactic acid & polylactic acid market is
expected to reach USD 9.8 billion and USD 6.5 billion respectively by
2025, according to a new report by Grand View Research, Inc. Rising
demand for lactic acid as pH regulator and preservatives for food &
beverages sector is expected to fuel its demand over the next eight
years. Growing cosmetic industry, on account of the increasing number of
manufacturing base by companies including Unilever, Johnson &
Johnson, and P&G in the U.S. is expected to drive industry
expansion.
Growing
consumer awareness regarding the need for sustainability,
biodegradability, recyclability, and green packaging is projected to
drive global PLA usage over the forecast period. Moreover, various
manufacturers are engaged in improving properties of PLA including
impact strength, flexibility, stiffness, barrier properties, thermal
stability, increase degradation rate, and reduce production costs, which
is likely to create immense market potential.
Pharmaceuticals
accounted for 7.5% of the overall revenue share of lactic acid in 2016
and are expected to witness high gains as the product serves as a
pH-regulation, chiral intermediate, and metal sequestration as well as a
natural body constituent. Increasing need for pharmaceutical grade
creams and other medicines among consumers is expected to propel demand
over the forecast period.
To Request for Sample Copy of this report: http://www.grandviewresearch.com/industry-analysis/lactic-acid-and-poly-lactic-acid-market
Further key findings from the report suggest:
- Global lactic acid demand was 1,220.0 kilo tons in 2016 and is expected to grow at a CAGR of 16.2% from 2017 to 2025 which is a result of increasing sales of medicines and perfumes in the Latin America and Asia Pacific region.
- Latin America lactic acid market is projected to witness significant revenue rise at a CAGR of 19.2% from 2017 to 2025 in light of the growing cosmetics industry in Brazil and Argentina.
- Textiles accounted for 21.0% of the polylactic acid revenue share in 2016 and is expected to witness growth as a result of its various properties including natural UV resistance, high tenacity, low smoke formation, and low flammability.
- Asia Pacific polylactic acid market is projected to show significant revenue rise at a CAGR of 22.4% from 2017 to 2025 owing to the establishment of various food & beverage and cosmetics manufacturing units particularly in India and China.
- In Asia Pacific, ‘on-the-go’ lifestyle of consumers and growing disposable income is expected to have a positive impact on the food & beverage sector which in turn is likely to propel packaging industry growth.
- In May 2016, Corbion Purac launched a PLA portfolio of bioplastic resins for North America to meet growing demand for packaging applications. In October 2013, Corbion Purac and bio-film manufacturer Innovia joined hands to develop temperature-stable and transparent PLA films
Grand View Research has segmented the global lactic acid & polylactic acid market on the basis of application, and region:
Lactic Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Industrial
- Food and beverages
- Pharmaceuticals
- Personal care
- Others
Polylactic Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Packaging
- Agriculture
- Transport
- Electronics
- Textiles
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- North America
- US.
- Europe
- Germany
- Asia Pacific
- China
- Central & South America
- Brazil
- Middle East & Africa
Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-lactic-acid-and-poly-lactic-acid-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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