GIA announces the release of a comprehensive global report on Lactic Acid markets. The world market for Lactic Acid is forecast to reach 367.3 thousand metric tons by the year 2017. Primary growth catalysts include sustained demand from end-use industries, heightened R&D activity and emergence of new applications. Lactic Acid based biodegradable polymers is an interesting niche area rapidly gaining ground, and is poised to become one of the most promising end-use applications for Lactic Acid. In addition, growing environmental concerns arising from use of plastics will further clear the path for biopolymers in the long run.
San Jose, California (PRWEB) April 04, 2012
Follow us on LinkedIn – The global market for lactic acid is largely considered immune to the economic tumult in the recent past, and its resilience is displayed in the steady growth rate over the last decade. Volume growth, achieved by rise in demand from existing end-use markets and emergence of new product applications, is expected to continue driving growth into the upcoming years. Lactic acid based biodegradable polymers followed by lactate solvents are likely to drive the demand for lactic acid, esters and its salts in various industrial applications. Food and beverages industry also constitutes as a major market driving growth in the lactic acid market.. Use of lactic acid in various personal care/cosmetic and pharmaceutical products would continue to be on the rise in the matured as well as emerging nations. Over the last few years, the lactic acid industry witnessed several major technological developments, which have helped refine various production processes. These technologies have enabled manufacturers to overcome bottleneck in production processes involving separations, distillation and processing of lactic acid. Presently, technological developments are being targeted towards the production of lactic acid for use in biodegradable plastics.
The global Polylactic Acid (PLA) market is witnessing a supply crunch, with a handful of international market participants struggling to keep pace with the rapidly rising demand. As manufacturers across the globe step up production to address the growing requirement, Asia Pacific is expected to take the lead, given the abundance of cheap feedstock, such as tapioca, sugar cane and sugar beet, for lactic acid production. As competition escalates, product pricing would figure as the key differentiator for suppliers operating in the global arena. Growing demand for PLA, which serves as a biodegradable plastic, is leading to numerous new PLA plant capacity expansions and additions, thereby boding lucrative consumption opportunities for lactic acid.
The global demand for lactic acid from the industrial applications end-use sector is expected to outpace the food and beverages sector in the recent term and constitute about 50% of the overall production. While the market for Biodegradable Plastics is expected to outperform all other sub-segments in terms of growth, the food additives sub-segment is set to dominate the market size in the near future. Tightening government regulations, move towards green products and soaring international oil prices are providing the thrust for transforming the presently niche PLA biomaterials segment into a mainstream industry. The lactic acid industry is expected to benefit significantly from the backlash arising out of growing environmental pollution caused by plastic disposal, escalating costs of petroleum feedstock and wide scale availability of naturally occurring cheap feedstock. In the long-run, biodegradable plastic is set to become one of the most promising end-use markets for lactic acid. As a result, leading lactic acid manufactures worldwide are engaged in developing various new and innovative PLA technologies with an intention to benefit from this growing market.
The United States constitutes the largest regional market for lactic acid, accounting for a significant share of the worldwide market, as stated by the new market research report on Lactic Acid. Western Europe and Asia-Pacific make up the other major lactic acid producers and consumers on a global scale. The Asian region backed by intense growth in China is projected to race ahead at a strong growth rate of 6.3% through 2017. In China, governmental support coupled with robust domestic demand propelled the dramatic growth of the Chinese Polylactic Acid (PLA) market over the last decade. The country's total production capacity of PLA recently crossed 200,000 ton per annum, and is set to surge ahead in the near term as producers step up their production volumes.
The Food Additives market has traditionally ruled the market as one of the largest end-user of lactic acid and continues to capture the largest chunk of the overall consumption. However the scenario is changing with demand for lactic acid in industrial applications outpacing the food and beverages sector market over the last few years. Nevertheless, in the coming few years, lactic acid would continue to be used in the ready-to-eat meat market in the US, while demand for liquid products in food and beverages industry in Japan and Western Europe would also grow moderately. China as well as other Asian countries are also expected to display strong demand for the use of lactic acid in food and beverages market as the acid would be largely used in various local-made food items, pH adjusters and food fortifiers.
Key players profiled in the report include Archer Daniels Midland Company, CSM N.V., PURAC, Galactic S.A., Henan Jindan Lactic Acid Co., Ltd., Musashino Chemical Laboratory, Ltd., and Musashino Chemical (China) Co., Ltd.
The research report titled “Lactic Acid: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive market overview, end-use markets, technological developments, trends, product overview, product introductions and recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the years 2009 through 2017 in volume (metric tons) terms for geographic markets including, US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key end-use segments analyzed include Cosmetic Products, Biodegradable Plastics, Food Additives and Others. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Lactic_Acid_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###
For the original version on PRWeb visit: http://www.prweb.com/releases/prweblactic_acid/polylactic_acid/prweb9369473.htm
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
