Lactic Acid and Poly Lactic Acid (Pla) Market Size, Industry Growth, Share and Forecast to 2020: Hexa Research

Increasing lactic acid demand for manufacturing poly lactic acid (PLA) is expected to fuel the global lactic acid market growth over the next five years. Lactic acid has gained significant importance recently. It is a colorless syrup liquid soluble in alcohol and water. The product is manufactured by fermentation of carbohydrates in excess calcium carbonate presence. Raw materials for lactic acid manufacturing process include sugar beet, corn, sugarcane and tapioca. Asia has the abundant quantity of such raw materials owing to huge production of carbohydrates particularly sugarcane. This is expected to help lactic acid producers to cut down their manufacturing cost due to low raw material prices as compared to other regions.

Growing awareness regarding eco-friendly products and demand for green products in packaging industries is anticipated to boost the global PLA market growth over the next five years. PLA is compostable and biodegradable as derived from natural sources, which is anticipated to drive the global PLA market over the next five years. Volatile crude oil prices are expected to reduce reliance on petrochemicals and are anticipated to foster the global PLA market growth. Shift towards bioplastics owing to changing consumer and industries preference is projected to witness significant growth over the foreseeable future. PLA faces drawbacks due to less efficient performance as compared to other conventional plastics are expected to hinder the market. Another key challenge is vulnerability with rising temperature which is expected to limit its applications in several areas such as utility packaging. However, many key participants are investing in R&D to enhance the product’s heat resistant property which is projected to generate immense opportunities for the PLA market.

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Industrial were the largest application segment accounting for...