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Polaris Market Research recently introduced a new title called "Global Lactic Acid and Poly Lactic Market Report 2017-2026", which provides a detailed overview of the industry and the competitive landscape, covering several market segments, and describes the outlook and market status until 2026.
the Global market for lactic acid and poly lactic acid Growth is mainly driven by the growing demand for lactic and polylactic acid in the food and pharmaceutical industry.
Polylactic acid is a thermoplastic polymer derived from renewable resources such as corn starch or sugarcane. It is a biodegradable and cost effective polymer to produce.
Poly-lactic acid shrinks under the effect of heat and is used for applications requiring shrink wrapping material.
Some applications of poly lactic acid include plastic films, bottles and biodegradable medical devices, among others. It is also used for the development of prototypes on CNC machines and 3D printers.
Lactic acid is a compound produced when glucose is broken down and oxidized. Lactic acid has several applications in the food and pharmaceutical industries.
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Growing use in the pharmaceutical industry and growing demand for personal care products are boosting the lactic and poly lactic acid market
The growing demand for lactic and polylactic acid from various sectors, such as food and beverages, pharmaceuticals and personal care, is contributing to the growth of the global lactic and poly lactic acid market. There is a growing demand for these acids in the personal care segment, which complements market growth.
The increasing application of lactic acid for the production of poly lactic acid accelerates the growth of the lactic acid and poly lactic acid market. Rising crude oil prices and the growing preference for environmentally friendly packaging are other factors influencing the market.
The growing demand for lactic acid as a raw material for PLA production and the increasing use in body care products further stimulate market growth.
Global taxonomy of lactic and poly lactic acid market
The global market for lactic and poly lactic acid is segmented by application and geography.
By application – Lactic acid
- Personal care
- Industrial
- Food and drinks
- Pharmaceutical
- Other
By Application- Poly Lactic Acid
- Agriculture
- Transport
- Textiles
- Electronic
- Packaging
- Other
Geographically, the global market for lactic and poly lactic acid is clbadified in North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
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Local players and supportive government initiatives stimulate the North American market for lactic and poly lactic acid
Geographically, North America is expected to dominate the global market for lactic and poly lactic acid over the forecast period. The growing demand for personal care products and high disposable income are fueling the growth of the lactic and poly lactic acid market in the region.
The growing demand for lactic and poly lactic acid from the pharmaceutical and luxury industries supports the growth of the lactic and poly lactic acid market. Government support initiatives as well as the presence of many local players responding to the growing needs of consumers have increased the adoption of lactic and poly lactic acid in the region.
The main players in the global market for lactic and poly lactic acid are:
- The DOW Chemical Company (United States)
- Galactic S.A.
- Natureworks LLC (United States)
- BASF SE (Germany)
- Meredian Holdings Group, Inc.
- Teijin Ltd (Japan)
- WEI MON INDUSTRY CO., LTD.
- Corbion N.V.
- Danimer Scientific LLC
- Futerro.
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