Lactic Acid And Polylactic Acid Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

When polymerized, lactic acid forms polylactic acid. Polylactic acid is regarded as one of the most promising biopolymers due to its superior properties like high mechanical strength, low toxicity, resistance to the external environment, and low flammability, to name a few. It is an organic acid that can be produced by fermentation or chemical synthesis. Polylactic acid (PLA) is a thermoplastic polymer derived from organic and renewable sources such as sugar cane or corn starch. Polylactic acid is getting widely adopted to produce bottles, plastic films, and biodegradable medical devices, among many other applications in the textiles, electronics, and packaging industry.

MARKET DYNAMICS

The lactic acid and poly lactic acid (PLA) market has witnessed a significant growth owing to factors such as rising demand of chemical industry. Moreover, the R&D activity provide a huge market opportunity for the key players operating in the lactic acid and poly lactic acid (PLA) market. However, volatile prices is projected to hamper the overall growth of the lactic acid and poly lactic acid (PLA) market.

MARKET SCOPE

The "Global Lactic Acid and Poly Lactic Acid (PLA) Market Analysis to 2031" is a specialized and in-depth study of the chemical and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the lactic acid and poly lactic acid (PLA) market with detailed market segmentation application, and geography. The global lactic acid and poly lactic acid (PLA) market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading lactic acid and poly lactic acid (PLA) market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global lactic acid and poly lactic acid (PLA) market is segmented on the basis of application. On the basis of application, the lactic acid is divided into biodegradable polymer, food & beverage, and personal care & pharmaceutical. On the basis of application, the polylactic acid is divided into packaging, agriculture, automobile, electronics, and textile.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global lactic acid and poly lactic acid (PLA) market based on various segments. It also provides marketsize and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The lactic acid and poly lactic acid (PLA) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the lactic acid and poly lactic acid (PLA) market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the lactic acid and poly lactic acid (PLA) market in these regions.

MARKET PLAYERS

The reports cover key developments in the lactic acid and poly lactic acid (PLA) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market pl ayers from lactic acid and poly lactic acid (PLA) market is anticipated to lucrative growth opportunities in the future with the rising demand for lactic acid and poly lactic acid (PLA) in the global market. Below mentioned is the list of few companies engaged in the lactic acid and poly lactic acid (PLA) market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the lactic acid and poly lactic acid (PLA) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   BASF SE
  
•   Teijin Ltd
  
•   The DOW Chemical Company
  
•   Corbion N.V.
  
•   Meredian Holdings Group, Inc.
  
•   Natureworks LLC
  
•   Henan Jindan Lactic Acid Technology Co. Ltd
  
•   Synbra Technology B.V.
  
•   WEI MON Industry Co., Ltd.
  
•   Galactic S.A.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Lactic Acid And Polylactic Acid Report Scope