Industry Analysis of Lactic Acid and Polylactic Acid (PLA) Highlights Continuous Growth by 2021
Albany, New York, November 21, 2016: A new report has been added to the wide collection of research report database of Market Research Hub (MRH). The report titled “Global Lactic Acid and Polylactic Acid (PLA) Market Research Report 2016” studies about the global market scenario of lactic and polylactic acid. Some of the key regions included in the report are North America, Europe, China, India, Japan and South-east Asia.
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The report provides the brief overview about the demand and growth of the market worldwide. Though, lactic acid is used in the production of PLA plastics that are mainly used in packaging products that comply with environmental customs. Increasing bioplastics demand have been coupled with growing adoption of PLA for packaging products and is expected to drive the market over the next six years. The factors that are currently impacting the PLA market is the awareness among consumers on environment safety, rising price of substitutes and raw materials such as petrochemicals. Governments across the globe have imposed ban on the use of plastic bags and also provide incentives for polylactic acid production process. This also has encouraged the shift towards PLA production.
Polylactic acid (PLA) is a bio-degradable thermoplastic polyester produced from lactic acid using various crops like corn, sugarcane, tapioca etc. Just like other sustainable bioplastics, polylactic acid market has enormous potential to be used in several packaging applications of food, beverages and other consumer products that have small shelf-life. Additionally, due to its adaptable characteristics, the material can be used in various high value applications for end-user industries such as textiles, constructions and automotive. According to the research, due to rising demand from its end-use applications, global market for lactic acid is estimated to witness high growth in future.
Further, the market is segmented on the basis of types, applications as well as regions. Geographically, it is observed that, North America is the largest market for global lactic acid & poly lactic acid market owing to high concentration of related industries in this region. It is then followed closely by Europe and Asia Pacific.
Leading manufacturers of the market are also mentioned in the report, such as:
- Musashino Chemical (China)
- Ningxia Hypow Bio-technology
- Henan Jindan Lacitc Acid Technology
- COFCO Biochemical (Anhui)
- Chongqing Bofei Biochemical Products
- Xiaogan Kaifeng Bioengineering
- Nantong Jiuding Biological Engineering
- Yancheng Haijianuo Biological Engineering
- Shanxi Leda Biochemical
- Zhejiang Hisun Biomaterials
All of these major players are profiled in detail along with company information, manufacturing base and key competitor’s analysis. In the end, industrial chain, sourcing strategy & downstream buyers are also analyzed.
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