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Lactic Acid Market

Lactic Acid Market

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Lactic Acid Market

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  1. Lactic Acid Market 2022 Growth Analysis by Manufacturers, Size, Historic Growth, Trends, Strategies, Forecast By 2026

  2. Global Market Scenario of Lactic Acid Industry Recent lactic acid & polylactic acid market trends are being propelled by an escalation in investment and capacity expansion initiatives such as mergers, acquisitions, and product launches by major industry participants. While the market has been temporarily impacted due to disruptions in supply chain and production on account of COVID-19 restrictions, the rising efforts by market players are expected to drive the business landscape amid attempts for economic revival. Citing an instance, in September 2021, NatureWorks’ parent companies Cargill Inc., and GC authorized an investment of over $600 million for the development of a new fully integrated polylactic acid manufacturing complex in Thailand. On the whole, the rising demand for bioplastics, rapid urbanization, and the appreciable expansion of the automotive sector are expected to boost polylactic acid market size through the forthcoming years.

  3. Continue:- Driven by similar developments, the lactic acid market size is anticipated to surpass USD 1.8 billion, with the polylactic acid market value set to exceed USD 790 million through 2026. The industry growth is further being fueled by the surging usage of lactic acid across numerous industrial applications in the textile, leather, medical, chemical, and other sectors. This is mainly due to the robust abilities of the product to ensure easy and fast lime removal through leather processing while effectively penetrating via the hide tissue, in turn creating a thicker hide. Rising consumer preference for aesthetic products is propelling the demand for premium footwear, wallets, and leather handbags. Owing to these factors, the lactic acid market share from industrial applications was recorded at more than USD 460 million in 2019 and is expected to register commendable growth over the forecast period.

  4. Request for sample copy of this research report@ https://www.gminsights.com/request-sample/detail/821

  5. 360° Industry Analysis Request for customization:https://www.gminsights.com/roc/821 Why is the lactic acid market growing in Europe? The Europe market is characterized by the formulation of favorable government policies for the promotion of lactic acid consumption. Regulation (EU) No 101/2013 allows the usage of the product across the meat processing sector for the prevention of microbial contamination of bovine carcasses. Likewise, regulation (EU) 2017/56 states that the product can be used as a permitted feed additive for all species of animals. Considering these aspects, Europe lactic acid market value surpassed USD 365 million in 2019 and is slated to observe substantial expansion through the assessment period. Rising polylactic demand in agricultural applications Polylactic acid is extensively deployed in the production of nonwoven fabrics that are ideal for nursery bags, weed control, agricultural mulch, and greenhouses. The product is biodegradable as it does not need disposal in landfills and unveils more nutrients in the soil upon decomposition.

  6. Competitive Analysis: Moreover, surging preference for organic agriculture and increasing food requirement for feeding the expanding population are expected to bolster the industry outlook in the ensuing years. In light of these advancements, the global polylactic acid market is estimated to register a consumption of more than 30 kilo tons from agricultural applications through 2026. Asia Pacific polylactic acid market: A look at the regional growth drivers Increasing environmental concerns, surging investments by bioplast manufacturers, and the escalating number of government policies for supporting environment-friendly products are expected to drive the market growth across the APAC. On this note, the regional polylactic acid market is estimated to exceed USD 210 million up to 2026. This rise is also attributed to the increasing crude oil prices and the growing demand for flexible packaging from the consumer goods sector across the Asia Pacific region.

  7. Title Latest Research Report On Lactic Acid Market @ https://www.gminsights.com/industry-analysis/lactic-acid-and-polylactic-acid-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/821 Request for customization: https://www.gminsights.com/roc/821

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