Lactic acid is a drab or some time yellowish, odorless and hygroscopic, sugary and thick chemical liquid. It’s usually soluble with other drinks consisting of water and ethanol. It’s observed in abundance in nature. It is the most essential acid component of acerbic milk and an average aspect of animals’ blood and muscle tissues. Lactic acid are broadly utilized in refined dairy products, preservative, flavoring, leather-based processing, fabric dyeing, manufacturing of biodegradable polymers which include poly lactic acid (pla), in plastics manufacturing, solvents, inks, and as a source of calcium lactate in prescription drugs industry. Lactic acid is likewise a first-rate supply for manufacturing of a number of the other chemicals along with lactate esters, propylene glycol propylene oxide, propanoic acid acetaldehyde, acrylic acid, 2,3-pentanedione, and dilactide.
How Big is the Global Lactic Acid Market and Global Polylactic Acid Market?
The Global Lactic Acid Market is expected to be around US$ 8.50 billion by 2027 and will grow at a CAGR of more than 18% in the given forecast period.
The Global Polylactic acid Market is expected to be around US$ 16 billion by 2027 and will grow at a CAGR of more than 20.5% in the given forecast period.
The major driving factors of Global Lactic Acid Market are as follows:
The major driving factors of Polylactic Acid Market are as follows:
The restraining factors of Global Lactic Acid Market are as follows:
The restraining factors of Polylactic Acid Market are as follows:
The Global Lactic Acid Market is segmented on the lines of its application and regional. Application is further segmented into lactic acid and poly lactic acid. Lactic acid is classified into biodegradable polymers, pharmaceuticals, food and beverages and personal care products. The Global Lactic Acid Market on geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.
This report provides:
1) An overview of the global market for lactic acid and related technologies.
2) Analyses of global market trends, with data from 2019, estimates for 2020 and 2021, and projections of compound annual growth rates (CAGRs) through 2027.
3) Identifications of new market opportunities and targeted promotional plans for Global Lactic Acid Market.
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.
REPORT SCOPE:
The scope of the report includes a detailed study of global and regional markets for Global Lactic Acid Market with the reasons given for variations in the growth of the industry in certain regions.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include BASF SE (Germany), CSM N.V. (The Netherlands), The Dow Chemical Company (U.S.), Teijin Ltd. (Japan), and NatureWorks LLC (U.S).Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.
The Global Lactic Acid Markethas been segmented as below:
By Application Analysis
By Regional Analysis
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1 INTRODUCTION
1.1 Key Take Aways
1.2 Report Description
1.3 Markets Covered
1.4 Stakeholders
1.5 Research Methodology
1.5.1 Market Size
1.5.2 Market Share
1.5.3 Key Data Points From Secondary Sources
1.5.4 Key Data Points From Primary Sources
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in this Market
4.2 Attractive Opportunities in the Polylactic Acid Market
4.3 Lactic Acid Market: Major Growth Applications
4.4 Polylactic Acid Market: Major Growth Applications
4.5 Lactic Acid Market in the Asia-Pacific Region
4.6 Polylactic Acid Market in the Asia-Pacific Region
4.7 Lactic Acid Market Attractiveness
4.8 Polylactic Acid Market Attractiveness
4.9 Life Cycle Analysis: Lactic Acid Market
4.10 Life Cycle Analysis: Polylactic Acid Market
5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 Lactic Acid Market
5.2.2 Polylactic Acid (Pla) Market
5.3 Core Industry Analysis
5.3.1 Industrial Biotechnology-Based Chemicals
5.4 Lactic Acid Market Dynamics
5.4.1 Drivers
5.4.1.1 Growth in End-User Applications
5.4.1.2 Increase in Demand for Lactic Acid-Based Personal Care Products
5.4.2 Restraints
5.4.2.1 Volatility of Raw Material Prices
5.4.3 Opportunities
5.4.3.1 Growing Application of Lactic Acid for Manufacturing of Polylactic Acid
5.4.4 Challenges
5.4.4.1 Infrastructural Challenges in Developing Countries
5.5 Polylactic Acid Market Dynamics
5.5.1 Drivers
5.5.1.1 Increasing Consumer Preference for Eco-Friendly Packaging
5.5.1.2 Rising Crude Oil Prices
5.5.2 Restraints
5.5.2.1 Price Competitiveness Against Conventional Polymers
5.5.3 Opportunities
5.5.3.1 Production of Pla From Lignocellulose Feedstocks
5.5.3.2 Increasing Scope of Applications in End-User Industries
5.5.4 Challenge
5.5.4.1 Increasing Demand for Bio-Based Ingredients
5.6 Evolution of Lactic Acid Market
5.7 Evolution of Polylactic Acid Market
6 Industry Trends
6.1 Introduction
6.2 Supply Chain Analysis
6.3 Porter’s Five Forces Analysis: Lactic Acid Market
6.3.1 Intensity of Competitive Rivalry
6.3.2 Bargaining Power of Buyers
6.3.3 Bargaining Power of Suppliers
6.3.4 Threat of Substitutes
6.3.5 Threat of New Entrants
6.4 Porter’s Five Forces Analysis: Polylactic Acid Market
6.4.1 Intensity of Competitive Rivalry
6.4.2 Bargaining Power of Buyers
6.4.3 Bargaining Power of Suppliers
6.4.4 Threat of Substitutes
6.4.5 Threat of New Entrants
7 Lactic Acid Market, By Application
7.1 Introduction
7.2 Biodegradable Polymers
7.3 Food & Beverages
7.4 Pharmaceuticals
7.5 Personal Care Products
7.6 Other Applications
8 Polylactic Acid Market, By Application
8.1 Introduction
8.2 Packaging
8.2.1 Rigid Packaging
8.2.2 Compost Bags
8.2.3 Loose Fill Packaging
8.3 Agriculture
8.4 Automobiles
8.5 Electronics
8.6 Textiles
8.7 Other Applications
9 Lactic Acid Market, By Region
9.1 Introduction
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 U.K.
9.3.3 France
9.3.4 Italy
9.3.5 Belgium
9.3.6 the Netherlands
9.3.7 Rest of Europe
9.4 Asia-Pacific
9.4.1 China
9.4.2 Japan
9.4.3 Australia-New Zealand
9.4.4 Thailand
9.4.5 Rest of Asia-Pacific
9.5 Rest of the World (RoW)
9.5.1 Brazil
9.5.2 Middle East
9.5.3 Other Countries in RoW
10 Polylactic Acid Market, By Region
10.1 Introduction
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 U.K.
10.3.3 France
10.3.4 Italy
10.3.5 Belgium
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 China
10.4.2 Japan
10.4.3 Australia-New Zealand
10.4.4 Thailand
10.4.5 Rest of Asia-Pacific
10.5 Rest of the World (RoW)
10.5.1 Brazil
10.5.2 Middle East
10.5.3 Other Countries in RoW
11 Competitive Landscape
11.1 Overview
11.2 Competitive Situations & Trends
11.2.1 New Product Launches
11.2.2 Expansions & Investments
11.2.3 Agreements, Partnership, Joint Venture and Collaborations
11.2.4 Mergers & Acquisitions
12 Company Profiles
12.1 Introduction
12.2 BASF SE
12.3 Teijin Ltd
12.4 The DOW Chemical Company
12.5 Corbion N.V.
12.6 Meredian Holdings Group, Inc.
12.7 Natureworks LLC
12.8 Henan Jindan Lactic Acid Technology Co. Ltd
12.9 Synbra Technology B.V.
12.10 WEI MON Industry Co., Ltd.
12.11 Galactic S.A.
The Global Lactic Acid Markethas been segmented as below:
By Application Analysis
By Regional Analysis
