Lactic Acid and Poly Lactic Acid (PLA) Market Size By Regional Analysis(Europe, Asia Pacific, America, Middle East And Africa), By Demand & COVID-19 Impact Analysis, By Type, By Applications And Forecasts 2023 - 2030 (Financial Impact Analysis)
ID : MRU_
310258 | Date :
Nov, 2021 | Pages :
164 | Region : Global |
Publisher : RI
The market research report is created with a compilation of analytical research based on historic records, current statistics, and future predictions. The report contains details on the leading players operating in the Lactic Acid and Poly Lactic Acid (PLA) market including various factors related to and dependent influencing the market growth.
Polylactide (PLA) is a biodegradable and bioactive thermoplastic aliphatic polyester derived from renewable resources, such as corn starch (in the United States and Canada), cassava roots, chips or starch (mostly in Asia), or sugarcane (in the rest of the world). In 2010, PLA had the second highest consumption volume of any bioplastic of the world.
The use of lactic acid in the manufacture of biodegradable plastics is one of the key growth factors of the lactic acid market. 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. The increasing application of polylactic acid in the packaging industry is estimated to fuel growth of the polylactic acid market in the following years. 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. Rising crude oil price are also estimated to drive the global PLA demand over the forecast period, owing to reduced dependency on traditional petroleum based products. North America is the largest market for global lactic acid & poly lactic acid market. Changing lifestyles along with rising consciousness regarding the enhancement of the overall personality of an individual in various countries including India, China, Malaysia, and Sri Lanka is expected to drive the global cosmetics market, which in turn is likely to spur growth.
Global Lactic Acid and Poly Lactic Acid (PLA) market size will increase to 2510 Million US$ by 2030, from 700 Million US$ in 2020, at a CAGR of 20.1% during the forecast period. In this study, 2023 has been considered as the base year and 2023 to 2030 as the forecast period to estimate the market size for Lactic Acid and Poly Lactic Acid (PLA).
The report is prepared using analytical methods such as SWOT (strengths, weaknesses, opportunities, and threats)) analysis, PESTEL Analysis, Porter\'s Five Force Analysis, and value chain analysis. These methods provide a clear view of the market structure and analyze competition at a global level. They also provide detailed information on each segment in the global Lactic Acid and Poly Lactic Acid (PLA) market.
The aim of the report is to interpret the market sizes of various segments and countries for the forecast period. The study includes the qualitative and quantitative analysis of the market. The report analyses the Lactic Acid and Poly Lactic Acid (PLA) market on a regional and global level with a deep analysis of macro-and micro-economic factors impacting the growth of the market. This report also includes market information related to the latest industry trends, market developments, and analysis of products and end users contributing to market growth. An in-depth study of the current market scenario, major driving factors, and restraining factors for the market are also included in the report.
The Lactic Acid and Poly Lactic Acid (PLA) market report includes information related to market segmentation, market size and revenue forecasts, and regional forecasts along with information about the leading market players operating in the market, company revenue shares and, their recent developments. The market is classified regionally on country-level into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Scope of the Lactic Acid and Poly Lactic Acid (PLA) Market: The major competitors working in the market are:
, BASF, Danimer Scientific, Henan Jindan Lactic Acid Technology, Synbra Technology, Dow Chemical, Corbion, Natureworks, Teijin, Wei Mon Industry
Market by Order Type
Lactic Acid
Poly Lactic Acid (PLA)
Lactic Acid and Poly Lactic Acid (PLA) Data by Application
Industrial
Personal Care
Packaging
Petroleum Based Products
Textiles
Lactic Acid and Poly Lactic Acid (PLA) Production Regions Covered in the Report are:
North America
Europe
Asia Pacific
Middle East & Africa
Rest of the World
The information about the Lactic Acid and Poly Lactic Acid (PLA) market is obtained from several sources such as company websites, journals, annual reports, which were then assessed and verified by the industry experts. The information is represented in the form of diagrams, charts, pie charts, and infographics, which helps in a better understanding of the market.
Objectives of Lactic Acid and Poly Lactic Acid (PLA) Market Report:
To analyze the factors driving the market growth including supply chain analysis, price analysis along with other analytical methods
To provide an in-depth analysis of the Lactic Acid and Poly Lactic Acid (PLA) market with information on various segment and sub-segments
To provide a regional analysis and global analysis for the Lactic Acid and Poly Lactic Acid (PLA) market size and their forecasts
To provide strategic profiles of the key players operating in the Lactic Acid and Poly Lactic Acid (PLA) market, their key competencies, and market competition
To provide a competitive scenario about the key factors driving, restraining, and challenging the market growth.
The impact of COVID-19 pandemic on the Lactic Acid and Poly Lactic Acid (PLA) market
Target Audiences for Lactic Acid and Poly Lactic Acid (PLA) Market:
Investors
Investment Bankers
Key Consulting Companies and Advisors
Venture Capitalists
Large, Medium-sized, and Small enterprises
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