Global Lactic Acid and Poly Lactic Acid (PLA) Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Lactic Acid and Poly Lactic Acid (PLA) Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Lactic Acid and Poly Lactic Acid (PLA) market size was valued at USD 1508.4 million in 2023 and is forecast to a readjusted size of USD 1937 million by 2030 with a CAGR of 3.6% during review period.

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.

The Global Info Research report includes an overview of the development of the Lactic Acid and Poly Lactic Acid (PLA) industry chain, the market status of Industrial (Lactic Acid, Poly Lactic Acid (PLA)), Personal Care (Lactic Acid, Poly Lactic Acid (PLA)), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Lactic Acid and Poly Lactic Acid (PLA).

Regionally, the report analyzes the Lactic Acid and Poly Lactic Acid (PLA) markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Lactic Acid and Poly Lactic Acid (PLA) market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Lactic Acid and Poly Lactic Acid (PLA) market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Lactic Acid and Poly Lactic Acid (PLA) industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K MT), revenue generated, and market share of different by Type (e.g., Lactic Acid, Poly Lactic Acid (PLA)).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Lactic Acid and Poly Lactic Acid (PLA) market.

Regional Analysis: The report involves examining the Lactic Acid and Poly Lactic Acid (PLA) market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Lactic Acid and Poly Lactic Acid (PLA) market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Lactic Acid and Poly Lactic Acid (PLA):

Company Analysis: Report covers individual Lactic Acid and Poly Lactic Acid (PLA) manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Lactic Acid and Poly Lactic Acid (PLA) This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Industrial, Personal Care).

Technology Analysis: Report covers specific technologies relevant to Lactic Acid and Poly Lactic Acid (PLA). It assesses the current state, advancements, and potential future developments in Lactic Acid and Poly Lactic Acid (PLA) areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Lactic Acid and Poly Lactic Acid (PLA) market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Lactic Acid and Poly Lactic Acid (PLA) market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
Lactic Acid
Poly Lactic Acid (PLA)

Market segment by Application
Industrial
Personal Care
Packaging
Petroleum Based Products
Textiles

Major players covered
BASF
Danimer Scientific
Henan Jindan Lactic Acid Technology
Synbra Technology
Dow Chemical
Corbion
Natureworks
Teijin
Wei Mon Industry

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Lactic Acid and Poly Lactic Acid (PLA) product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Lactic Acid and Poly Lactic Acid (PLA), with price, sales, revenue and global market share of Lactic Acid and Poly Lactic Acid (PLA) from 2019 to 2024.

Chapter 3, the Lactic Acid and Poly Lactic Acid (PLA) competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Lactic Acid and Poly Lactic Acid (PLA) breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Lactic Acid and Poly Lactic Acid (PLA) market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Lactic Acid and Poly Lactic Acid (PLA).

Chapter 14 and 15, to describe Lactic Acid and Poly Lactic Acid (PLA) sales channel, distributors, customers, research findings and conclusion.