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The strong demand of polylactic acid has promoted the rapid development of lactic acid market
Source: | Author:xinxinghuanbao | Published time: 2018-05-24 | 1430 Views | Share:
The international research firm reports that lactic acid is increasingly used in industry across a wide range of industries, more widely than in 13 years. It has become one of the most popular biodegradable plastics in the market and has a profound impact on food packaging, automobile parts and other fields.




The strong demand of polylactic acid has promoted the rapid development of lactic acid market




Global market research and consulting firm Marketsand Markets recently released a titled "application of lactic acid market (biodegradable polymers, food & beverage, personal care & pharmaceutical) & application of poly (lactic acid) (PLA) market (packaging, agriculture, automobile, electronics, textile) & regional - & forecast to 2019 global trends" report.


According to the report, the lactic acid market will grow at a compound annual rate of 18.8 per cent from 2014 to reach a market value of $3.577.5bn by 2019. Lactic acid is increasingly used in industries such as biodegradable polymers, food & beverage, personal care products and the pharmaceutical industry. In 2013, biodegradable polymers were the biggest applications of lactic acid, followed by the food and beverage industries.


Lactic acid is one of the simplest hydroxycarboxylic acids with an asymmetric carbon atom. It is often used to make bioplastics - polylactic acid (PLA). The PLA has become one of the most popular biodegradable plastics on the market. Polylactic acid has a very important application in the food packaging industry, especially in frozen food, ready-to-eat food and tableware. Other applications include agricultural film, electronics, auto parts, injection molding products and textiles. The improvement of consumer awareness and the tightening of national policies have driven the demand for green products and stimulated the growth of polylactic acid market, which has also developed rapidly.


Europe is the most important market for polylactic acid, while the asia-pacific region will be the fastest growing market in the next five years due to strong regional demand, the report said. Over the next five years, the global polylactic acid market is expected to grow at a compound annual growth rate of 20.8 percent, with a market value of $510.7 billion by 2019.


The report also analyzes the development strategies and product lines of leading polylactic acid producers, including Nature Works(USA), Synbra Technology(Netherlands) and Purac(Netherlands).