LACTIC ACID

The global lactic acid market is estimated to witness high growth, due to rising demand from its end-
use applications. It is used in the production of PLA plastics that are mainly used in packaging
products that comply with environmental norms. Polylactic acid is a thermoplastic polyester. It is
derived from renewable feedstock such as sugarcane, corn starch, wheat, and tapioca roots. PLA
products contain bio-based renewable constituents.

The global Lactic acid and polylactic acid market has been segmented on the basis of application and
region. On the basis of application, the market has been segmented into biodegradable polymers,
food & beverages, pharmaceuticals, personal care products, and others. The polylactic acid market
has been segmented into packaging, agriculture, automobile, electronics, textiles, and others.

The lactic acid market is projected to reach USD 3.82 Billion by 2020, growing at a CAGR of 18.6%
during the forecast period. In 2015, the market is estimated to be dominated by North America,
followed by Europe. The Asia-Pacific market is projected to grow at the highest CAGR, owing to the
increasing demand for lactic acid in this region.

The polylactic acid market is projected to reach USD 5.16 Billion by 2020, growing at a CAGR of 20.9%
during the forecast period. In 2015, the market is estimated to be dominated by Europe, followed by
North America. The Asia-Pacific market is projected to grow at the highest CAGR, owing to the
increasing demand for polylactic acid in this region.

The top-down and bottom-up approaches have been used to arrive at the market sizes and obtain the
market forecast. Data triangulation methods have been used to perform market estimation and
projection for the entire market, along with sub-segments listed in this report. Extensive secondary
research was conducted to understand the market insights and trends, which was further validated
through primary interviews. The report provides both qualitative and quantitative analysis of the
global lactic acid and polylactic acid market, the competitive landscape, and the preferred
development strategies of the key players.

The key players were observed to prefer mergers & acquisitions, expansions, agreements, and new
product launches as strategies to garner a larger share in this market. This report also analyzes the
market dynamics.

On the basis of application, the lactic acid market has been segmented as follows:

Lactic acid
o Biodegradable polymers
o Food and beverages
o Pharmaceuticals
o Personal care products
o Others
Polylactic acid
o Packaging
o Agriculture
o Automobile
o Electronics
o Textiles
o Others