Demand for lactic acid-based biopolymers on the rise
The world market for Lactic Acid is forecast to reach 367.3 thousand metric tons by the year 2017. Primary growth catalysts include sustained demand from end-use industries, heightened R&D activity and emergence of new applications. Lactic Acid based biodegradable polymers is an interesting niche area rapidly gaining ground, and is poised to become one of the most promising end-use applications for Lactic Acid. In addition, growing environmental concerns arising from use of plastics will further clear the path for biopolymers in the long run.
The global demand for lactic acid from the industrial applications end-use sector is expected to outpace the food and beverages sector in the recent term and constitute about 50% of the overall production. While the market for Biodegradable Plastics is expected to outperform all other sub-segments in terms of growth, the food additives sub-segment is set to dominate the market size in the near future. Tightening government regulations, move towards green products and soaring international oil prices are providing the thrust for transforming the presently niche PLA biomaterials segment into a mainstream industry. The lactic acid industry is expected to benefit significantly from the backlash arising out of growing environmental pollution caused by plastic disposal, escalating costs of petroleum feedstock and wide scale availability of naturally occurring cheap feedstock. In the long-run, biodegradable plastic is set to become one of the most promising end-use markets for lactic acid. As a result, leading lactic acid manufactures worldwide are engaged in developing various new and innovative PLA technologies with an intention to benefit from this growing market.
This report analyzes the worldwide markets for Lactic Acid in Metric Tons by the following End-Use Segments: Cosmetic Products, Biodegradable Plastics, Food Additives, and Other Applications. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Annual estimates and forecasts are provided for the period 2009 through 2017. Also, a six-year historic analysis is provided for these markets.
The report profiles 31 companies including many key and niche players such as Archer Daniels Midland Company, CSM N.V., PURAC, Galactic S.A., Henan Jindan Lactic Acid Co. Ltd., Musashino Chemical Laboratory, Ltd., and Musashino Chemical (China) Co., Ltd. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain. Global Industry Analysts ©