Press release
Lactic Acid Market - Global Industry Analysis 2023 | Research Report
The use of lactic acid in the manufacture of biodegradable plastics is one of the key growth factors of the lactic acid market in the coming years. Rising environmental concerns due to dumping of plastics in landfills is promoting the use of bioplastics, which is indirectly benefitting the lactic acid market. Lactic acid is a carboxylic acid that is used across a host of end-use industries owing to its chemical properties. Lactic acid is also used in food and beverage, pharmaceutical, and personal care industries further boosting the growth of lactic acid market.
This 206 page report gives readers a comprehensive overview of the Lactic Acid Market . Browse through to unlock the hidden opportunities in this market @
http://www.transparencymarketresearch.com/lactic-poly-lactic-acid.html
The increasing application of polylactic acid in the packaging industry is estimated to fuel growth of the polylactic acid market in the coming years. Furthermore, polylactic acid has applications in electronics, textile, and biomedical sectors, which is expected to positively influence the polylactic acid industry. The introduction of bio-based plastics and their increased usage in the food and beverage industry is expected to extend growth opportunities for the polylactic acid market in the near future. Polylactic is one of the most sought-after bioplastics and is an effective substitute to traditional petroleum-based plastics.
The global lactic acid market displayed an opportunity of US$1,130.4 mn in 2014 and is projected to be worth US$3,381.8 mn by 2023 increasing at a CAGR of 13.0% from 2015 to 2023. The global market for polylactic acid is expected to rise at a CAGR of 14.6% from 2015 to 2023 increasing from US$400.1 mn to US$1,358.1 mn between 2014 and 2023.
Asia Pacific to Emerge as Rapidly Growing Regional Market for Lactic Acid and Polylactic Acid
North America stood as the leading regional segment for lactic acid holding more than 30% of the overall market in 2014. The growth of this market is largely driven by rising demand for bioplastics. In the coming years, slow yet steady recovery of the U.S. economy will lead to steady growth of the North America lactic acid market. However, Asia Pacific is expected to be the fastest developing regional market for lactic acid in the near future.
Europe held the leading share of more than 45% of the global polylactic acid market in 2014. The North America market for polylactic acid is primarily driven by rising demand for bioplastics. However, Asia Pacific is expected to be the fastest developing regional segment for polylactic acid in the coming years. The Latin America and Middle East and Africa markets for polylactic acid are estimated to register moderate growth due to the increase in demand for polylactic acid from the packaging industry.
Packaging Segment to Continue Register High Demand for Polylactic Acid
Biodegradable plastics stood as the leading end-use segment accounting for more than 35% of the overall market in 2014. Expanding at a CAGR of 13.5% between 2015 and 2023, biodegradable plastics is anticipated to be the fastest developing end-use segment of lactic acid. Lactic acid also finds extensive use in personal care products and the food and beverages industry.
Packaging stood as the leading end-use segment holding a share of more than 45% in the global polylactic acid market in 2014. It is estimated to be the fastest developing end-use segment of the market for polylactic acid over the forecast period. Electronics, textiles, biomedical, and automotive end-use segments are also expected hold significant share in the global market for polylactic acid during the forecast period.
Get accurate market forecast and analysis on the Lactic Acid Market . Request a sample to stay abreast on the key trends impacting this market @
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1235
Some of the top players in the lactic acid market and polylactic acid market are Corbion NV, Synbra Technology BV, Teijin Ltd., Natureworks LLC, Archer Daniels Midland Company, Futerro, and Galactic.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Lactic Acid Market - Global Industry Analysis 2023 | Research Report here
News-ID: 568590 • Views: …
More Releases from Transparency Market Research
RF Chip Inductor Market Size to Reach over USD 1.8 billion by 2031 - Transparenc …
RF Chip Inductor Market are essential components in various electronic devices, providing inductance and functioning as filters, oscillators, and transformers. They play a crucial role in ensuring the efficiency and performance of RF circuits. With the rapid advancement in telecommunications, consumer electronics, and automotive industries, the demand for RF chip inductors has seen a significant rise. These components are integral in applications such as smartphones, IoT devices, and automotive electronics,…
Solid Tires Market Expected to Witness Impressive Growth at a 8.1% CAGR by 2031
The latest research study released by Transparency Market Research on "Solid Tires Market Forecast to 2023-2031 ″ research provides accurate economic, global, and country-level predictions and analyses.
Solid Tires market is estimated to attain a valuation of US$ 760.0 Mn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 8.1% during…
Automotive Cyber security Market Sales Estimated to Hit USD 10.5 Billion by 2031 …
The latest research study released by Transparency Market Research on "𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐂𝐲𝐛𝐞𝐫 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Automotive Cyber security industry, as…
Ready-mix Concrete Market to Witness Exponential Growth with a CAGR of 6.1% from …
The latest research study released by Transparency Market Research on "𝐑𝐞𝐚𝐝𝐲-𝐦𝐢𝐱 𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Ready-mix Concrete industry, as well as…
More Releases for Lactic
Lactic and Poly Lactic Acid Market Sustainability Driving Innovations
"According to the research report, the global lactic and poly lactic acid market is valued at USD 3.51 billion in 2022 and is expected to reach USD 7.94 billion by 2032, to grow at a CAGR of 9.7% during the forecast period."
Global Lactic And Poly Lactic Acid Market is currently valued at and is anticipated to generate an estimated revenue of according to the latest study by Polaris Market Research.…
Explore the Latest Innovations in Lactic Acid & Poly Lactic Acid Market Size!!
"The Lactic Acid & Poly Lactic Acid market study formulated by Up Market Research, presents a detailed analysis of the influential trends prevailing in this business sphere. This research report also offers definitive information concerning the commercialization of this vertical, market size, and revenue estimation of this industry. The study explicitly illustrates the competitive standing of key players over the projected timeline while incorporating their individual portfolios & geographical…
Lactic Acids
https://www.qandqmarketresearch.com/reports/7744730
Lactic acid has a systematic name that is 2hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen.
The United States is the worlds largest consumer market. Its consumptions account for about 30% of the world.China became the worlds second consumer market after 2011, and its accounting for about 25% of the world.
With the continuous…
Lactic Acid Poly Lactic Acid Market to Exhibit Impressive Growth During 2020
Lactic acid (2-hydroxy propanoic acid) is a colorless or some time yellowish, odorless and hygroscopic, sugary and thick chemical liquid. It is generally soluble with other liquids such as water and ethanol. It is found in abundance in nature. It is the most important acid ingredient of acerbic milk and a typical component of animals’ blood and muscle tissue.
Lactic acid are widely used in refined dairy products, preservative, flavoring,…
Lactic Acid Poly Lactic Acid Market- Global Industry Analysis by 2020
Lactic acid (2-hydroxy propanoic acid) is a colorless or some time yellowish, odorless and hygroscopic, sugary and thick chemical liquid. It is generally soluble with other liquids such as water and ethanol. It is found in abundance in nature. It is the most important acid ingredient of acerbic milk and a typical component of animals’ blood and muscle tissue.
Lactic acid are widely used in refined dairy products, preservative, flavoring,…
Lactic Acid Poly Lactic Acid Market to Rear Excessive Growth by 2020
Lactic acid (2-hydroxy propanoic acid) is a colorless or some time yellowish, odorless and hygroscopic, sugary and thick chemical liquid. It is generally soluble with other liquids such as water and ethanol. It is found in abundance in nature. It is the most important acid ingredient of acerbic milk and a typical component of animals’ blood and muscle tissue.
To access full report @ http://www.persistencemarketresearch.com/market-research/lactic-acid-poly-lactic-acid-market.asp
Lactic acid are widely used in refined…
