Expansion PLA market to fuel growth in the lactic acid market

07-Jan-15

Lactic acid is used in the production of PLA plastics, which are mainly used in packaging products that comply with environmental regulations. Expansion of the PLA market is projected to fuel growth in the lactic acid market. The global market for lactic acid is presently experiencing strong growth, which is mainly achieved by the rising demand from its end-user applications, as per Research and Markets. These end-user applications mainly comprise industrial applications such as biodegradable polymers, food and beverages segment, and personal care industry and are projected to drive the growth over the next few years. Over the last five years, the industrial applications segment has registered a strong demand, especially in the biodegradable polymer segment (PLA). With increasing focus on sustainability, favorable government regulations for green procurement policies, the polylactic acid market will witness a significant opportunity in packaging applications for consumer goods. The packaging application is projected to witness significant growth, which includes compostable waste bags, biodegradable mulch films, catering products, film packaging, and rigid packaging. Compostable waste bags can be used in collecting organic waste, and therefore reduces landfills by improving composting process and compost quality. Biodegradable mulch films have an extensive application in agriculture and reduce the labor and disposable cost (by directly disposing it in field after usage). Catering food products is a large segment of the food service sector and an important application of PLA plastics, which includes trays, cutlery, and cups. The market for packaging is projected to be valued at US$994.9 million by 2019. The textile segment is projected to account for the second-largest share in the polylactic acid market.