When polymerized, lactic acid forms polylactic acid. Polylactic acid is regarded as one of the most promising biopolymers due to its superior properties like high mechanical strength, low toxicity, resistance to the external environment, and low flammability, to name a few. It is an organic acid that can be produced by fermentation or chemical synthesis. Polylactic acid (PLA) is a thermoplastic polymer derived from organic and renewable sources such as sugar cane or corn starch. Polylactic acid is getting widely adopted to produce bottles, plastic films, and biodegradable medical devices, among many other applications in the textiles, electronics, and packaging industry.
MARKET DYNAMICS
The lactic acid and poly lactic acid (PLA) market has witnessed a significant growth owing to factors such as rising demand of chemical industry. Moreover, the R&D activity provide a huge market opportunity for the key players operating in the lactic acid and poly lactic acid (PLA) market. However, volatile prices is projected to hamper the overall growth of the lactic acid and poly lactic acid (PLA) market.
MARKET SCOPE
The "Global Lactic Acid and Poly Lactic Acid (PLA) Market Analysis to 2031" is a specialized and in-depth study of the chemical and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the lactic acid and poly lactic acid (PLA) market with detailed market segmentation application, and geography. The global lactic acid and poly lactic acid (PLA) market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading lactic acid and poly lactic acid (PLA) market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global lactic acid and poly lactic acid (PLA) market is segmented on the basis of application. On the basis of application, the lactic acid is divided into biodegradable polymer, food & beverage, and personal care & pharmaceutical. On the basis of application, the polylactic acid is divided into packaging, agriculture, automobile, electronics, and textile.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global lactic acid and poly lactic acid (PLA) market based on various segments. It also provides marketsize and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The lactic acid and poly lactic acid (PLA) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the lactic acid and poly lactic acid (PLA) market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the lactic acid and poly lactic acid (PLA) market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global lactic acid and poly lactic acid (PLA) market based on various segments. It also provides marketsize and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The lactic acid and poly lactic acid (PLA) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the lactic acid and poly lactic acid (PLA) market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the lactic acid and poly lactic acid (PLA) market in these regions.
MARKET PLAYERS
The reports cover key developments in the lactic acid and poly lactic acid (PLA) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market pl ayers from lactic acid and poly lactic acid (PLA) market is anticipated to lucrative growth opportunities in the future with the rising demand for lactic acid and poly lactic acid (PLA) in the global market. Below mentioned is the list of few companies engaged in the lactic acid and poly lactic acid (PLA) market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the lactic acid and poly lactic acid (PLA) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BASF SE
- Teijin Ltd
- The DOW Chemical Company
- Corbion N.V.
- Meredian Holdings Group, Inc.
- Natureworks LLC
- Henan Jindan Lactic Acid Technology Co. Ltd
- Synbra Technology B.V.
- WEI MON Industry Co., Ltd.
- Galactic S.A.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Lactic Acid And Polylactic Acid Market - By Application
1.3.2Lactic Acid And Polylactic Acid Market - By Region
1.3.2.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.LACTIC ACID AND POLYLACTIC ACID MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.LACTIC ACID AND POLYLACTIC ACID MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.LACTIC ACID AND POLYLACTIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1.LACTIC ACID AND POLYLACTIC ACID - GLOBAL MARKET OVERVIEW
6.2.LACTIC ACID AND POLYLACTIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.LACTIC ACID AND POLYLACTIC ACID MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
7.1.OVERVIEW
7.2.APPLICATION MARKET FORECASTS AND ANALYSIS
7.3.LACTIC ACID
7.3.1.Overview
7.3.2.Lactic Acid Market Forecast and Analysis
7.3.3.Biodegradable Polymer Market
7.3.3.1.Overview
7.3.3.2.Biodegradable Polymer Market Forecast and Analysis
7.3.4. Food and Beverage Market
7.3.4.1.Overview
7.3.4.2. Food and Beverage Market Forecast and Analysis
7.3.5. Personal Care and Pharmaceutical Market
7.3.5.1.Overview
7.3.5.2. Personal Care and Pharmaceutical Market Forecast and Analysis
7.4.POLYLACTIC ACID
7.4.1.Overview
7.4.2.Polylactic Acid Market Forecast and Analysis
7.4.3.Packaging Market
7.4.3.1.Overview
7.4.3.2.Packaging Market Forecast and Analysis
7.4.4. Agriculture Market
7.4.4.1.Overview
7.4.4.2. Agriculture Market Forecast and Analysis
7.4.5. Automobile Market
7.4.5.1.Overview
7.4.5.2. Automobile Market Forecast and Analysis
7.4.6. Electronics Market
7.4.6.1.Overview
7.4.6.2. Electronics Market Forecast and Analysis
7.4.7. Textile Market
7.4.7.1.Overview
7.4.7.2. Textile Market Forecast and Analysis
8.LACTIC ACID AND POLYLACTIC ACID MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
8.1.NORTH AMERICA
8.1.1North America Lactic Acid And Polylactic Acid Market Overview
8.1.2North America Lactic Acid And Polylactic Acid Market Forecasts and Analysis
8.1.3North America Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Application
8.1.4North America Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Countries
8.1.4.1United States Lactic Acid And Polylactic Acid Market
8.1.4.1.1United States Lactic Acid And Polylactic Acid Market by Application
8.1.4.2Canada Lactic Acid And Polylactic Acid Market
8.1.4.2.1Canada Lactic Acid And Polylactic Acid Market by Application
8.1.4.3Mexico Lactic Acid And Polylactic Acid Market
8.1.4.3.1Mexico Lactic Acid And Polylactic Acid Market by Application
8.2.EUROPE
8.2.1Europe Lactic Acid And Polylactic Acid Market Overview
8.2.2Europe Lactic Acid And Polylactic Acid Market Forecasts and Analysis
8.2.3Europe Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Application
8.2.4Europe Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Countries
8.2.4.1Germany Lactic Acid And Polylactic Acid Market
8.2.4.1.1Germany Lactic Acid And Polylactic Acid Market by Application
8.2.4.2France Lactic Acid And Polylactic Acid Market
8.2.4.2.1France Lactic Acid And Polylactic Acid Market by Application
8.2.4.3Italy Lactic Acid And Polylactic Acid Market
8.2.4.3.1Italy Lactic Acid And Polylactic Acid Market by Application
8.2.4.4United Kingdom Lactic Acid And Polylactic Acid Market
8.2.4.4.1United Kingdom Lactic Acid And Polylactic Acid Market by Application
8.2.4.5Russia Lactic Acid And Polylactic Acid Market
8.2.4.5.1Russia Lactic Acid And Polylactic Acid Market by Application
8.2.4.6Rest of Europe Lactic Acid And Polylactic Acid Market
8.2.4.6.1Rest of Europe Lactic Acid And Polylactic Acid Market by Application
8.3.ASIA-PACIFIC
8.3.1Asia-Pacific Lactic Acid And Polylactic Acid Market Overview
8.3.2Asia-Pacific Lactic Acid And Polylactic Acid Market Forecasts and Analysis
8.3.3Asia-Pacific Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Application
8.3.4Asia-Pacific Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Countries
8.3.4.1Australia Lactic Acid And Polylactic Acid Market
8.3.4.1.1Australia Lactic Acid And Polylactic Acid Market by Application
8.3.4.2China Lactic Acid And Polylactic Acid Market
8.3.4.2.1China Lactic Acid And Polylactic Acid Market by Application
8.3.4.3India Lactic Acid And Polylactic Acid Market
8.3.4.3.1India Lactic Acid And Polylactic Acid Market by Application
8.3.4.4Japan Lactic Acid And Polylactic Acid Market
8.3.4.4.1Japan Lactic Acid And Polylactic Acid Market by Application
8.3.4.5South Korea Lactic Acid And Polylactic Acid Market
8.3.4.5.1South Korea Lactic Acid And Polylactic Acid Market by Application
8.3.4.6Rest of Asia-Pacific Lactic Acid And Polylactic Acid Market
8.3.4.6.1Rest of Asia-Pacific Lactic Acid And Polylactic Acid Market by Application
8.4.MIDDLE EAST AND AFRICA
8.4.1Middle East and Africa Lactic Acid And Polylactic Acid Market Overview
8.4.2Middle East and Africa Lactic Acid And Polylactic Acid Market Forecasts and Analysis
8.4.3Middle East and Africa Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Application
8.4.4Middle East and Africa Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Countries
8.4.4.1South Africa Lactic Acid And Polylactic Acid Market
8.4.4.1.1South Africa Lactic Acid And Polylactic Acid Market by Application
8.4.4.2Saudi Arabia Lactic Acid And Polylactic Acid Market
8.4.4.2.1Saudi Arabia Lactic Acid And Polylactic Acid Market by Application
8.4.4.3U.A.E Lactic Acid And Polylactic Acid Market
8.4.4.3.1U.A.E Lactic Acid And Polylactic Acid Market by Application
8.4.4.4Rest of Middle East and Africa Lactic Acid And Polylactic Acid Market
8.4.4.4.1Rest of Middle East and Africa Lactic Acid And Polylactic Acid Market by Application
8.5.SOUTH AND CENTRAL AMERICA
8.5.1South and Central America Lactic Acid And Polylactic Acid Market Overview
8.5.2South and Central America Lactic Acid And Polylactic Acid Market Forecasts and Analysis
8.5.3South and Central America Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Application
8.5.4South and Central America Lactic Acid And Polylactic Acid Market Forecasts and Analysis - By Countries
8.5.4.1Brazil Lactic Acid And Polylactic Acid Market
8.5.4.1.1Brazil Lactic Acid And Polylactic Acid Market by Application
8.5.4.2Argentina Lactic Acid And Polylactic Acid Market
8.5.4.2.1Argentina Lactic Acid And Polylactic Acid Market by Application
8.5.4.3Rest of South and Central America Lactic Acid And Polylactic Acid Market
8.5.4.3.1Rest of South and Central America Lactic Acid And Polylactic Acid Market by Application
9.INDUSTRY LANDSCAPE
9.1.MERGERS AND ACQUISITIONS
9.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3.NEW PRODUCT LAUNCHES
9.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
10.LACTIC ACID AND POLYLACTIC ACID MARKET, KEY COMPANY PROFILES
10.1.BASF SE
10.1.1.Key Facts
10.1.2.Business Description
10.1.3.Products and Services
10.1.4.Financial Overview
10.1.5.SWOT Analysis
10.1.6.Key Developments
10.2.TEIJIN LTD
10.2.1.Key Facts
10.2.2.Business Description
10.2.3.Products and Services
10.2.4.Financial Overview
10.2.5.SWOT Analysis
10.2.6.Key Developments
10.3.THE DOW CHEMICAL COMPANY
10.3.1.Key Facts
10.3.2.Business Description
10.3.3.Products and Services
10.3.4.Financial Overview
10.3.5.SWOT Analysis
10.3.6.Key Developments
10.4.CORBION N.V.
10.4.1.Key Facts
10.4.2.Business Description
10.4.3.Products and Services
10.4.4.Financial Overview
10.4.5.SWOT Analysis
10.4.6.Key Developments
10.5.MEREDIAN HOLDINGS GROUP, INC.
10.5.1.Key Facts
10.5.2.Business Description
10.5.3.Products and Services
10.5.4.Financial Overview
10.5.5.SWOT Analysis
10.5.6.Key Developments
10.6.NATUREWORKS LLC
10.6.1.Key Facts
10.6.2.Business Description
10.6.3.Products and Services
10.6.4.Financial Overview
10.6.5.SWOT Analysis
10.6.6.Key Developments
10.7.HENAN JINDAN LACTIC ACID TECHNOLOGY CO. LTD
10.7.1.Key Facts
10.7.2.Business Description
10.7.3.Products and Services
10.7.4.Financial Overview
10.7.5.SWOT Analysis
10.7.6.Key Developments
10.8.SYNBRA TECHNOLOGY B.V.
10.8.1.Key Facts
10.8.2.Business Description
10.8.3.Products and Services
10.8.4.Financial Overview
10.8.5.SWOT Analysis
10.8.6.Key Developments
10.9.WEI MON INDUSTRY CO., LTD.
10.9.1.Key Facts
10.9.2.Business Description
10.9.3.Products and Services
10.9.4.Financial Overview
10.9.5.SWOT Analysis
10.9.6.Key Developments
10.10.GALACTIC S.A.
10.10.1.Key Facts
10.10.2.Business Description
10.10.3.Products and Services
10.10.4.Financial Overview
10.10.5.SWOT Analysis
10.10.6.Key Developments
11.APPENDIX
11.1.ABOUT THE INSIGHT PARTNERS
11.2.GLOSSARY OF TERMS
1. BASF SE
2. Teijin Ltd
3. The DOW Chemical Company
4. Corbion N.V.
5. Meredian Holdings Group, Inc.
6. Natureworks LLC
7. Henan Jindan Lactic Acid Technology Co. Ltd
8. Synbra Technology B.V.
9. WEI MON Industry Co., Ltd.
10. Galactic S.A.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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