Lactic Acid & Polylactic Acid Market Will Grow At A CAGR Of 16.2% From 2017 To 2025
The global lactic acid & polylactic acid market is anticipated to reach USD 9.8 billion and USD 6.5 billion respectively by 2025. Growing demand for environmental friendly packaged products and awareness is expected to drive the market growth over the forecast period. Global lactic acid market is expected to grow at a CAGR of 16.2% from 2017 to 2025. Lactic acid is a colorless syrupy liquid with alcohol and water that is produced from raw materials including carbohydrates such as sugarcane, tapioca, corn and sugar beet. It involves fermentation of carbohydrates in presence of calcium carbonate. Lactic acid is also used to develop poly lactic acid(PLA). The production of PLA uses 68 percent less fossil fuel resources than traditional plastics and it is the world's first greenhouse-gas-neutral polymer. It is one of the major sources of bio-resins use in bioplastics. PLA is derived from renewable resources. This organic compound is easily compostable and biodegrada...