Lactic acid is a chemical compound
which is used in various biochemical processes, and is also known as milk acid.
Polylactic acid, commonly referred to as PLA, is renewable thermoplastic
polyester derived from corn starch, sugarcane, and tapioca roots in various
parts of the world. Polylactic acid (PLA) represents the largest application
segment for lactic acid. Traditionally, lactic acids were being used in the
food and beverages industry, which accounted for the maximum lactic acid
produced globally. But owing to a demand for sustainable plastic materials in
order to reduce the impact on the environment, PLA has replaced food and
beverages as the largest application of lactic acid.
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Some of the major factors that are
driving the growth of the global market include the growing demand for
biodegradable plastic materials. Gaining cost competitiveness against its
synthetic counterparts remains a major challenge for the major players. North
America is the leading market for lactic acid, which accounted for
approximately 35% of the global market in 2011. North America is followed by
Europe and Asia-Pacific with almost an equal market share for the same year.
Packaging represents the largest application for PLA primarily from the food
and beverages industry. Europe is the leading market for PLA owing to stringent
regulations imposed on the use of synthetic plastic materials for
packaging.
Some of the major players in the
market include BASF, Galactic, Naturework LLC, Phusis, Purac, and Pyramid
Bioplastics Guben, among others.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
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