Market Overview:
The global lactic acid and poly lactic acid (PLA) market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for biodegradable plastics from various end-use industries, such as industrial, personal care, packaging, petroleum based products and textiles. In addition, the growing awareness about environmental concerns is also propelling the demand for biodegradable plastics over traditional plastics. Based on type, the lactic acid segment is projected to lead the global lactic acid and polylactic acid (PLA) market during the forecast period. Lactic acids are produced by fermentation of carbohydrates present in plant or animal tissues or milk sugar (lactose). They are used as an intermediate in manufacturing various chemicals and pharmaceuticals products. Lactate esters are also used as solvents in paints & coatings industry owing to their good solvency power and volatility characteristics.
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Product Definition:
Lactic acid is a chemical compound with the formula CH3CH(OH)COOH. It is a white solid that is miscible with water. Poly lactic acid (PLA) is an aliphatic polyester derived from lactic acid, made by polymerizing lactide (lactide monomer), a cyclic ester of lactic acid. PLA has been produced commercially since 1990 and it can be used as a replacement for petroleum-based plastics in both injection molded parts and films.
Lactic Acid:
Lactic acid is a weak organic compound with pKa values ranging from 2.0 to 4.0, which is an important intermediate product in many chemical and biochemical processes. Lactic acid can be produced by fermentation of bacteria or using biotransformation methods in organisms such as E. Coli and yeast; it plays an important role as a substrate for the synthesis of PLA, GBL, VPN, and other compounds used for manufacturing medical devices or drugs (pharmaceuticals).
Poly Lactic Acid (PLA):
Poly lactic acid is a biodegradable polymer, produced by fermentation of bacterial cells. It has the ability to dissolve in solvents and form solutions that are clear and colorless. Poly lactic acid can be manufactured from renewable resources such as corn starch, sugarcane bagasse or wood chips.
Application Insights:
The global market is segmented by application into industrial, personal care, packaging, petroleum-based products and textiles. The industrial application segment dominated the overall market in terms of revenue as well as volume in 2017. This can be attributed to extensive usage of LLA and PLA in manufacturing plastics & resins for use in construction & automotive industries among others.
PLA has emerged as a potential substitute for fossil-based polymers owing to its ecofriendly characteristics along with improved mechanical properties which make it suitable for applications such as filtration mediums and surgical sutures among others. It is also used extensively in the manufacture of biodegradable plastics which are ideal alternatives to conventional plastic materials that are nonbiodegradable over a longer period of time.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is also projected to register a significant growth rate of 6.7% from 2018 to 2030 owing to increasing product demand from end-use industries, such as packaging, automotive, textiles and industrial applications.
The growing medical sector in developing economies including India and China is likely to boost the demand for biodegradable plastics with superior properties including low toxicity and high strength/performance ratio. In addition, rising awareness regarding health & hygiene in these countries will drive industry expansion over the coming years.
Europe was estimated at USD X million in 2017 owing toward growing pharmaceutical industry mainly due to new drug approvals by regulatory agencies like EMEA1 FDA2 are anticipated propel polylactic acid (PLA) consumption across this region during the forecast period 8%.
Growth Factors:
- Increasing demand from the packaging industry for biodegradable and compostable products.
- Rising awareness about the benefits of using environmentally friendly materials.
- Growing popularity of 3D printing technology and its applications in various industries.
- Proliferation of start-ups that are focused on developing sustainable products made from PLA materials .
Scope Of The Report
Report Attributes
Report Details
Report Title
Lactic Acid and Poly Lactic Acid (PLA) Market Research Report
By Type
Lactic Acid, Poly Lactic Acid (PLA)
By Application
Industrial, Personal Care, Packaging, Petroleum Based Products, Textiles
By Companies
BASF, Danimer Scientific, Henan Jindan Lactic Acid Technology, Synbra Technology, Dow Chemical, Corbion, Natureworks, Teijin, Wei Mon Industry, BASF
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
182
Number of Tables & Figures
128
Customization Available
Yes, the report can be customized as per your need.
Global Lactic Acid and Poly Lactic Acid (PLA) Market Report Segments:
The global Lactic Acid and Poly Lactic Acid (PLA) market is segmented on the basis of:
Types
Lactic Acid, Poly Lactic Acid (PLA)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial, Personal Care, Packaging, Petroleum Based Products, Textiles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BASF
- Danimer Scientific
- Henan Jindan Lactic Acid Technology
- Synbra Technology
- Dow Chemical
- Corbion
- Natureworks
- Teijin
- Wei Mon Industry
- BASF
 Market Overview.svg)
Highlights of The Lactic Acid and Poly Lactic Acid (PLA) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lactic Acid
- Poly Lactic Acid (PLA)
- By Application:
- Industrial
- Personal Care
- Packaging
- Petroleum Based Products
- Textiles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Lactic Acid and Poly Lactic Acid (PLA) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Lactic acid and poly lactic acid are two types of plastic that are made from renewable resources. Lactic acid is a byproduct of the fermentation process used to make yogurt, cheese, and other dairy products. Polylactic acid is created when lactic acid molecules are joined together in chains. This type of plastic can be more durable than traditional plastics and can be produced using less energy.
Some of the key players operating in the lactic acid and poly lactic acid (pla) market are BASF, Danimer Scientific, Henan Jindan Lactic Acid Technology, Synbra Technology, Dow Chemical, Corbion, Natureworks, Teijin, Wei Mon Industry, BASF.
The lactic acid and poly lactic acid (pla) market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Lactic Acid and Poly Lactic Acid (PLA) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Lactic Acid and Poly Lactic Acid (PLA) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Lactic Acid and Poly Lactic Acid (PLA) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Lactic Acid and Poly Lactic Acid (PLA) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Lactic Acid and Poly Lactic Acid (PLA) Market Size & Forecast, 2018-2028
4.5.1 Lactic Acid and Poly Lactic Acid (PLA) Market Size and Y-o-Y Growth
4.5.2 Lactic Acid and Poly Lactic Acid (PLA) Market Absolute $ Opportunity
Chapter 5 Global Lactic Acid and Poly Lactic Acid (PLA) Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Type
5.2.1 Lactic Acid
5.2.2 Poly Lactic Acid (PLA)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Lactic Acid and Poly Lactic Acid (PLA) Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Applications
6.2.1 Industrial
6.2.2 Personal Care
6.2.3 Packaging
6.2.4 Petroleum Based Products
6.2.5 Textiles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Lactic Acid and Poly Lactic Acid (PLA) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Lactic Acid and Poly Lactic Acid (PLA) Analysis and Forecast
9.1 Introduction
9.2 North America Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Type
9.6.1 Lactic Acid
9.6.2 Poly Lactic Acid (PLA)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Applications
9.10.1 Industrial
9.10.2 Personal Care
9.10.3 Packaging
9.10.4 Petroleum Based Products
9.10.5 Textiles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Lactic Acid and Poly Lactic Acid (PLA) Analysis and Forecast
10.1 Introduction
10.2 Europe Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Type
10.6.1 Lactic Acid
10.6.2 Poly Lactic Acid (PLA)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Applications
10.10.1 Industrial
10.10.2 Personal Care
10.10.3 Packaging
10.10.4 Petroleum Based Products
10.10.5 Textiles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Lactic Acid and Poly Lactic Acid (PLA) Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Type
11.6.1 Lactic Acid
11.6.2 Poly Lactic Acid (PLA)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Applications
11.10.1 Industrial
11.10.2 Personal Care
11.10.3 Packaging
11.10.4 Petroleum Based Products
11.10.5 Textiles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Lactic Acid and Poly Lactic Acid (PLA) Analysis and Forecast
12.1 Introduction
12.2 Latin America Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Type
12.6.1 Lactic Acid
12.6.2 Poly Lactic Acid (PLA)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Applications
12.10.1 Industrial
12.10.2 Personal Care
12.10.3 Packaging
12.10.4 Petroleum Based Products
12.10.5 Textiles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Lactic Acid and Poly Lactic Acid (PLA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Type
13.6.1 Lactic Acid
13.6.2 Poly Lactic Acid (PLA)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Lactic Acid and Poly Lactic Acid (PLA) Market Size Forecast by Applications
13.10.1 Industrial
13.10.2 Personal Care
13.10.3 Packaging
13.10.4 Petroleum Based Products
13.10.5 Textiles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Lactic Acid and Poly Lactic Acid (PLA) Market: Competitive Dashboard
14.2 Global Lactic Acid and Poly Lactic Acid (PLA) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BASF
14.3.2 Danimer Scientific
14.3.3 Henan Jindan Lactic Acid Technology
14.3.4 Synbra Technology
14.3.5 Dow Chemical
14.3.6 Corbion
14.3.7 Natureworks
14.3.8 Teijin
14.3.9 Wei Mon Industry
14.3.10 BASF
