Lactic Acid & Poly Lactic Acid Market
Posted: Wed Feb 28, 2024 8:51 am
The global size for Lactic Acid and poly lactic acid market reached USD 3.25 Billion in 2022 and is anticipated to attain USD 6.77 Billion by 2032, demonstrating a robust revenue compound annual growth rate (CAGR) of 8.5% throughout the forecast period. The escalating demand for lactic acid and PLA across diverse industries, including packaging, textiles, and medical devices, constitutes a pivotal driver propelling the growth of market revenue. Lactic acid, a naturally occurring organic acid derived from carbohydrate fermentation, and PLA, a biodegradable and compostable polymer derived from lactic acid, are key contributors to this trend.
Moreover, the increasing preference for sustainable and environmentally friendly packaging materials is poised to further boost market revenue during the forecast period. PLA serves as a viable alternative to conventional petroleum-based plastics in various packaging applications like food packaging, beverage cups, and bags. The biodegradable and compostable characteristics of PLA make it a favored choice among both consumers and manufacturers.
Top Companies:
• Cargill, Inc.
• BASF SE
• Corbian
• NatureWorks LLC
• Henkel AG & Co. KGaA
• Purac Biochem BV
• Teijin Limited
• Weifang Ensign Industry Co., Ltd.
• Cellulac
• Synbra Technology BV
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Driving Factors of Lactic Acid & Poly Lactic Acid Market
Advancements in PLA Processing Technology:
• Technological advancements have been made to improve the processing of PLA, addressing challenges such as its brittleness and limited heat resistance. This includes the development of modified PLA formulations and the incorporation of additives to enhance performance.
Shift Towards Circular Economy:
• The concept of a circular economy, where materials are reused and recycled, has gained traction. PLA, being biodegradable, fits into this framework. Efforts are being made to establish efficient recycling methods for PLA to promote a more sustainable lifecycle.
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Further Segmentation:
By Product Type Outlook:
• Poly Lactic Acid (PLA)
• Poly D-Lactic Acid (PDLA)
• Poly DL-Lactic Acid (PDLLA)
By Application Outlook:
• Packaging
• Textile
• Medical
• Personal Care
• Others
Key Regional Markets Covered in the Report:
• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Moreover, the increasing preference for sustainable and environmentally friendly packaging materials is poised to further boost market revenue during the forecast period. PLA serves as a viable alternative to conventional petroleum-based plastics in various packaging applications like food packaging, beverage cups, and bags. The biodegradable and compostable characteristics of PLA make it a favored choice among both consumers and manufacturers.
Top Companies:
• Cargill, Inc.
• BASF SE
• Corbian
• NatureWorks LLC
• Henkel AG & Co. KGaA
• Purac Biochem BV
• Teijin Limited
• Weifang Ensign Industry Co., Ltd.
• Cellulac
• Synbra Technology BV
To Get Sample PDF@ https://www.reportsanddata.com/download ... ample/7137
Driving Factors of Lactic Acid & Poly Lactic Acid Market
Advancements in PLA Processing Technology:
• Technological advancements have been made to improve the processing of PLA, addressing challenges such as its brittleness and limited heat resistance. This includes the development of modified PLA formulations and the incorporation of additives to enhance performance.
Shift Towards Circular Economy:
• The concept of a circular economy, where materials are reused and recycled, has gained traction. PLA, being biodegradable, fits into this framework. Efforts are being made to establish efficient recycling methods for PLA to promote a more sustainable lifecycle.
Read Full Report @ https://www.reportsanddata.com/report-d ... cid-market
Further Segmentation:
By Product Type Outlook:
• Poly Lactic Acid (PLA)
• Poly D-Lactic Acid (PDLA)
• Poly DL-Lactic Acid (PDLLA)
By Application Outlook:
• Packaging
• Textile
• Medical
• Personal Care
• Others
Key Regional Markets Covered in the Report:
• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Request a customization on the report @ https://www.reportsanddata.com/request- ... -form/7137
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report