Lactic Acid: A Global Strategic Business Report
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.
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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