Lactic Acid Market – Industrial Application Revenue In
2015 Increased 10% to USD 433.69 Million From USD
393.98 Million In 2014
In 2014, North America is the largest market for lactic acid and accounted for more than 40%
share of the market pie in terms of revenue and volume. Globally, the U.S. is the largest market
for lactic acid and is driven by the growing PLA market. Rising demand for PLA in food packaging
applications and other industrial application continues to increase. Moreover, new applications
such as three-dimensional printing filament are emerging. European market is driven by food
and beverages application. Currently, the region is mainly dependent on imports to meet the
rising demand as it has limited production capacity of PLA.
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The market for lactic acid is projected to grow moderately from 2015 to 2022. Germany and
France are the two major contributors towards the market growth. In future, Eastern Europe
will offer huge growth potential.
Asia Pacific is projected to be the fastest growing market in terms of volume and revenue, at an
estimated CAGR of 17.5% in terms of revenue from 2015 to 2022. China is projected to surpass
the Western European lactic acid market in the near future. In China, food and beverages is the
largest applications, lactic acid and its salts serve as preservatives and acidulants respectively.
Lactic acid for PLA will increase significantly during the forecast period. In Japan, the food and
beverage sector is the largest application for lactic acid, followed by industrial applications and
personal care & pharmaceuticals products. Japan mainly depends on domestic lactic acid as
well as imports from Thailand, China, and other Asian countries.
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The overall market for lactic acid is projected to increase...