Lactic Acid & PLA Market Size, Trends, Demand And Industry Forecast
Lactic acid improves brain aerobic metabolism and helps in determining in acid base homeostasis in body during blood tests. In pharmaceutical industry, it is used to differentiate water-soluble lactates from insoluble active ingredients. Moreover, it is used as a therapeutic agent, food preservative, and flavoring agent.
Lactic acid is an organic compound that is white in color and water soluble in nature. It enhances the nutritional value of food, improves digestion of lactose, controls intestinal infections as well as few types of cancer, and keeps serum cholesterol levels intact.
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Polylactic acid or PLA is a biodegradable thermoplastic aliphatic polyester derived from renewable resources such as corn, starch, tapioca roots, sugarcane, and others. It has variety of applications in personal care packaging, electronics, agriculture, textile, bio-medical, and other industrial sectors.
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Surge in demand for bioplastics, varying crude oil prices, and shift in consumer preference toward eco-friendly technology further supplement the global lactic acid and PLA industry. However, competitive prices and performance comparison with respect to conventional plastics are expected to pose challenges to the market players. However, high scope in various applications are expected to create new avenues in the industry.
The lactic acid and PLA industry is segmented on the basis of applications and geography.
Applications
industrial,
food & beverage,
pharmaceuticals,
personal care, and others,
whereas,
Applications Of PLA
packaging
agriculture
transport
textiles
electronics, and others
Geographically
North America
Europe
Asia-Pacific
LAMEA.
Prominent vendors operating in the market are BASF, Danimer Scientific LLC, Futerro, Galactic, Henan Jindan Lactic Acid Technology Co. Ltd., NatureWorks LLC, and PURAC. They have adopted expansion, merger & acquisition, partnerships, new product launches, collaborations, and other strategies to consolidate their position in the industry.
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