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.
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This report aims to provide a comprehensive presentation of the global market for Lactic Acid and Poly Lactic Acid (PLA), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Lactic Acid and Poly Lactic Acid (PLA). This report contains market size and forecasts of Lactic Acid and Poly Lactic Acid (PLA) in global, including the following market information:
Global Lactic Acid and Poly Lactic Acid (PLA) Market Revenue, 2018-2023, 2024-2032, ($ millions)
Global Lactic Acid and Poly Lactic Acid (PLA) Market Sales, 2018-2023, 2024-2032, (K MT)
Global top five Lactic Acid and Poly Lactic Acid (PLA) companies in 2022 (%)
The global Lactic Acid and Poly Lactic Acid (PLA) market was valued at US$ 584.6 million in 2022 and is projected to reach US$ 2002.9 million by 2029, at a CAGR of 19.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Lactic Acid and Poly Lactic Acid (PLA) manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Lactic Acid and Poly Lactic Acid (PLA) Market, by Type, 2018-2023, 2024-2032 ($ Millions) & (K MT)
Global Lactic Acid and Poly Lactic Acid (PLA) Market Segment Percentages, by Type, 2022 (%)
Lactic Acid
Poly Lactic Acid (PLA)
Global Lactic Acid and Poly Lactic Acid (PLA) Market, by Application, 2018-2023, 2024-2032 ($ Millions) & (K MT)
Global Lactic Acid and Poly Lactic Acid (PLA) Market Segment Percentages, by Application, 2022 (%)
Industrial
Personal Care
Packaging
Petroleum Based Products
Textiles
Global Lactic Acid and Poly Lactic Acid (PLA) Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions) & (K MT)
Global Lactic Acid and Poly Lactic Acid (PLA) Market Segment Percentages, By Region and Country, 2022 (%)
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
The Middle East and Africa (Middle East, Africa)
South and Central America (Brazil, Argentina, Rest of SCA)
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Lactic Acid and Poly Lactic Acid (PLA) revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Lactic Acid and Poly Lactic Acid (PLA) revenues share in global market, 2022 (%)
Key companies Lactic Acid and Poly Lactic Acid (PLA) sales in global market, 2018-2023 (Estimated), (K MT)
Key companies Lactic Acid and Poly Lactic Acid (PLA) sales share in global market, 2022 (%)
Key players include:
BASF
Danimer Scientific
Henan Jindan Lactic Acid Technology
Synbra Technology
Dow Chemical
Corbion
Natureworks
Teijin
Wei Mon Industry
Outline of Major Chapters:
Chapter 1: Introduces the definition of Lactic Acid and Poly Lactic Acid (PLA), market overview.
Chapter 2: Global Lactic Acid and Poly Lactic Acid (PLA) market size in revenue and volume.
Chapter 3: Detailed analysis of Lactic Acid and Poly Lactic Acid (PLA) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Lactic Acid and Poly Lactic Acid (PLA) in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Lactic Acid and Poly Lactic Acid (PLA) capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
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Table of content
1 Introduction to Research & Analysis Reports 1.1 Lactic Acid and Poly Lactic Acid (PLA) Market Definition 1.2 Market Segments 1.2.1 Market by Type 1.2.2 Market by Application 1.3 Global Lactic Acid and Poly Lactic Acid (PLA) Market Overview 1.4 Features & Benefits of This Report 1.5 Methodology & Sources of Information 1.5.1 Research Methodology 1.5.2 Research Process 1.5.3 Base Year 1.5.4 Report Assumptions & Caveats 2 Global Lactic Acid and Poly Lactic Acid (PLA) Overall Market Size 2.1 Global Lactic Acid and Poly Lactic Acid (PLA) Market Size: 2022 VS 2032 2.2 Global Lactic Acid and Poly Lactic Acid (PLA) Revenue, Prospects & Forecasts: 2018-2032 2.3 Global Lactic Acid and Poly Lactic Acid (PLA) Sales: 2018-2032 3 Company Landscape 3.1 Top Lactic Acid and Poly Lactic Acid (PLA) Players in Global Market 3.2 Top Global Lactic Acid and Poly Lactic Acid (PLA) Companies Ranked by Revenue 3.3 Global Lactic Acid and Poly Lactic Acid (PLA) Revenue by Companies 3.4 Global Lactic Acid and Poly Lactic Acid (PLA) Sales by Companies 3.5 Global Lactic Acid and Poly Lactic Acid (PLA) Price by Manufacturer (2018-2023) 3.6 Top 3 and Top 5 Lactic Acid and Poly Lactic Acid (PLA) Companies in Global Market, by Revenue in 2022 3.7 Global Manufacturers Lactic Acid and Poly Lactic Acid (PLA) Product Type 3.8 Tier 1, Tier 2 and Tier 3 Lactic Acid and Poly Lactic
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