Lactic Acid Market size to exceed $6bn & PLA Market worth $4bn by 2024

Lactic Acid Market size is set to surpass USD 6 billion by 2024 and Polylactic Acid Market size should surpass USD 4 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

Global market size regarding industrial applications exceeded USD 765 million in 2015 on account of growing digitization and interconnectivity. This product is widely used in the manufacture of automotive components & interiors and serves as a vital ingredient in the chemical industry for the production of acrylic & pyruvic acid. Improvements in operational sector and expanding middle class in China, India and Indonesia should boost market growth.

 

 Request Sample Buy NowInquiry Before Buying


 

Global lactic acid demand from personal care & cosmetics applications should register over 15.5% gains by the end of the predicted timeframe pertaining to growing consumer preference for organic products. This substance improves skin texture, cleanses pores, smoothens fine lines & wrinkles and offers protection from bacteria. Rising consumption of anti-aging cosmetics by the youth segment and increasing tendency to experiment with different products is likely to fuel market growth.
 

Get more details on this report - Request Free Sample PDF
 

Global PLA market size from rigid packaging application should surpass USD 910 million by 2024 owing to growing demand for convenience food and rise in nuclear families. Increasing demand for various beverages such as juices, liquor, & energy drinks and rising demand for consumer goods is likely to promote market growth.
 

Browse key industry insights spread across 110 pages with 198 market data tables and 17 figures & charts from the report,  “Lactic Acid Market Size By Application (Industrial, Food & Beverage, Pharmaceuticals, Personal Care), Polylactic Acid (PLA) Market Size By Application (Packaging, Agriculture, Transport, Electronics, Textiles), Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Netherlands, Belgium, China, India, Japan, Malaysia, Thailand, Australia, South Korea, Brazil, South Africa, Saudi Arabia), Downstream Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lactic-acid-and-polylactic-acid-market
 

North America PLA demand from textile applications witnessed a consumption of over 25 kilo tons in 2015 and should witness significant growth in the predicted period owing to growing demand for non-woven fabrics. These materials are well-suited for casual, workwear and protective wear pertaining to their low weight, excellent breathability, UV resistance and high tinting. Growth in exports, government focus on improving regional textile production and booming healthcare fabrics industry should further boost market growth.
 

Europe PLA market size with respect to packaging applications was valued at about USD 230 million in 2015 and should grow significantly pertaining to growing demand from healthcare sector and significant consumer disposable income. This material offers high heat resistance, non-toxic, and fully compostable which makes it ideal for fruit, vegetable & meat packaging. Rising prevalence of government regulations to curb plastic usage and increasing efforts by manufacturers to use biodegradable products is likely to trigger market growth.
 

Asia Pacific lactic acid demand from pharmaceutical applications should register over 15.5% gains by 2024 on account of government efforts to speed up new product registration and the presence of an aging population. This product finds routine usage as an ingredient of IV fluids, and lactate salts owing to its significant antimicrobial & antitumor activity. The imminent expiry of expensive patented medicines, booming biotechnology sector and government policies to provide health coverage to financially weaker sections should promote market growth.
 

Danimer Scientific, Synbra Technology, Corbion, NatureWorks, Galactic, BASF, Dow Chemicals, and Futerro are the major manufacturers in the market. Various market participants are engaging in strategic joint ventures to expand production capacity and meet rising demand from consumer goods & packaging industries along with partnerships to expand their distribution network.
 

Inquiry Before BuyingRequest Sample
 

Lactic acid & polylactic acid market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD from 2012 to 2024, for the following segments:

By Application

  • Industrial
  • Food & beverage
  • Pharmaceuticals
  • Personal care

By Application

  • Packaging
    • Rigid packaging
    • Loose fill
    • Compost bags
  • Agriculture
  • Transport
  • Electronics
  • Textiles

The above information is provided on a regional basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Netherlands
    • Belgium
  • Asia Pacific
    • China
    • India
    • Japan
    • Malaysia
    • Australia
    • Thailand
    • South Korea
  • Latin America (LATAM)
    • Brazil
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa

Chat With Us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree