Driven
by the propitious business climate in the cosmetics, and biodegradable
plastics end-use industries, the world market for lactic acid is
projected to reach 259 thousand metric tons by the year 2012.
Development of new technologies, emergence of new end-use applications,
and evolution of new markets are all expected to offer opportunities
for future growth.
San Jose, CA (PRWEB) October 23, 2008 -- World consumption of lactic
acid stands enthused by its use in key industries such as cosmetics,
biodegradable plastics and food additives. The recently uncovered
potential of lactic acid as a pH balancer in shampoos and soaps, and
other alpha hydroxy acid applications, is expected to pep up
consumption in this market. Use of lactic acid in biodegradable
plastics is expected to gather momentum, given the rising demand for
environmentally friendly packaging. Emerging application possibilities
are additionally expected to prop up the market's growth in the
upcoming years. Use of lactic acid bacteria in anti microbial
compounds, food additives, flavoring agents, and as a substitute for
hazardous solvents in industrial applications, will all help ensure
steady consumption into the future. As stated by the recent report
published by Global Industry Analysts, Inc., the United States,
Asia-Pacific and Europe dominate the world lactic acid market,
with a combined share of nearly 80% estimated in 2008. In Europe,
Germany ranks as the largest individual market for lactic acid with a
29.3% share estimated in 2008, followed by France and Italy.
Growth is the strongest in the biodegradable plastics end-use market,
with North America, Japan, and Europe, setting the pace of growth with
a robust CAGR in excess of 6% over the period 2011 through 2015.
Consumption in the biodegradable plastics end-use industry in Europe is
projected to reach 6.7 thousand metric tons by the year 2015. Given the
low toxicity and biodegradability advantages of lactic acid as a raw
material, demand for lactic acid in biodegradable polymers is forecast
to post healthy gains. The lactic acid industry is additionally
expected to benefit significantly from the backlash arising out of
growing environmental pollution caused by plastic disposal, rising oil
prices and greater consumer interest towards the use of greener
products.
Consumption of lactic acid in the world cosmetic products end-use market
is expected to rise by 24.67 thousand metric tons between the period
2008 to 2012. For the same period, consumption in the food additives
end-use market is expected to rise by 22.96 thousand metric tons. In
Japan, cosmetic products, and food additives, together, account for
over 86% of the total consumption of lactic acid.
Leading global and regional players operating in the industry
include Archer Daniels Midland Company, CSM N.V., Purac, Galactic S.A.,
Henan Jindan Lactic Acid Co. Ltd., Musashino Chemical Laboratory Ltd.,
and Jiangxi Musashino Bio-Chem. Co. Ltd.
The report titled "Lactic Acid: A Global Strategic Business Report"
published by Global Industry Analysts, Inc., provides a comprehensive
review of market trends, drivers, issues, and challenges. Richly
annotated with authoritative, and unbiased commentaries, and
hard-to-find statistical facts, the report provides unequivocal views
on future potential while throwing light on the prevailing climate in
key regional markets. End-use markets analyzed in the report include
Cosmetic Products, Biodegradable Plastics, and Food Additives. Latent
demand patterns in end-use markets are quantified across major
geographic market verticals including the United States, Canada, Japan,
France, Germany, United Kingdom, Italy, Spain, Russia, Asia-Pacific,
Latin America, and Middle East. Also provided in the report is an
enumeration of recent mergers, acquisitions, and other strategic
industry activities.
For more details about this research report, please visit http://www.strategyr.com/Lactic_Acid_Market_Report.asp.
Source: Press Release
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