Asia Pacific Lactic Acid Market By Application (Electronics, Agriculture, Packaging, Textile, Biomedical And Others) And By Region (Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2022 to 2027)
Asia Pacific Lactic Acid Market Size and Growth Analysis:
Asia Pacific Lactic Acid Market was worth USD 1.46 billion in 2022 and is estimated to be growing at a CAGR of 18.12%, to reach USD 1.99 billion by 2027.
Asia Pacific Lactic Acid Market Overview:
Lactic Acid is a white compound that is water soluble in a solid state and colorless in a liquid state. In the industry, lactic acid is produced by fermentation by lactic acid bacteria which converts carbohydrates like glucose, galactose, and sucrose into lactic acid. Lactic Acid has a wide range of applications. It is used in the dairy industry to make yogurt and cheese. It is used as a humectant in the textile industry to enhance the moisture in fabric so that dyes can attach to them. It is used in the leather tanning process. It is used in preparing lacquers and inks. In the pharmaceutical industry, it is used as a starting substance to prepare other substances. Its variants are approved as food additives in various countries. It is widely used in preparing foods of various kinds. The Asia Pacific Lactic Acid market is driven by factors such as rising use of shampoos, creams, and body care products, growing pharmaceutical industry, growing petrochemical products, rising awareness among people regarding recyclability and sustainability, and increasing number of bioplastic applications among others. However, the chief constraint which is faced by this market is the high price of PLA over other conventional polymers and the volatility of prices of raw materials like corn and sugar.
Asia Pacific Lactic Acid Market Segmentation:
basis of application
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electronics
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agriculture
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packaging
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textile
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biomedical
In the marine sector, lactic acid is used as a descaling agent which is resulting in increasing use expected to drive the market in regions like Australia, UK and UAE. Personal care segment is expected to grow at a significant rate in regions like the Middle East, Latin America, and Western parts of Africa.
Asia Pacific Lactic Acid Market geographical Analysis
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India
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Japan
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China
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Australia
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South Korea
Asia Pacific is the fastest growing region in the world and is the third largest market after North America and Europe regions. Factors such as rising awareness about recyclability and growing personal care industry is expected to propel the market growth in the region.
Asia Pacific Lactic Acid Market Key players:
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BASF SE (Germany)
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CSM N.V. (The Netherlands)
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The Dow Chemical Company (U.S.)
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Teijin Ltd. (Japan),
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NatureWorks LLC (U.S)
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Application
5.1.1 Electronics
5.1.2 Agriculture
5.1.3 Packaging
5.1.4 Textile
5.1.5 Biomedical
5.1.6 Other Applications
5.1.7 Y-o-Y Growth Analysis, By Application
5.1.8 Market Attractiveness Analysis, By Application
5.1.9 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Application
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 BASF SE
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 CSM N.V.
8.3 The Dow Chemical Company
8.4 Teijin Ltd.
8.5 NatureWorks LLC
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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Asia-Pacific Lactic Acid Market By Application, From 2022 - 2027 ( USD Million )
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Asia-Pacific Electronics Market By Region, From 2022 - 2027 ( USD Million )
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Asia-Pacific Agriculture Market By Region, From 2022 - 2027 ( USD Million )
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Asia-Pacific Packaging Market By Region, From 2022 - 2027 ( USD Million )
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Asia-Pacific Textile Market By Region, From 2022 - 2027 ( USD Million )
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Asia-Pacific Biomedical Market By Region, From 2022 - 2027 ( USD Million )
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Asia-Pacific Other Applications Market By Region, From 2022 - 2027 ( USD Million )
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Japan Lactic Acid Market By Application, From 2022 - 2027 ( USD Million )
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China Lactic Acid Market By Application, From 2022 - 2027 ( USD Million )
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India Lactic Acid Market By Application, From 2022 - 2027 ( USD Million )
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Australia Lactic Acid Market By Application, From 2022 - 2027 ( USD Million )
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South Korea Lactic Acid Market By Application, From 2022 - 2027 ( USD Million )
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