Europe Lactic Acid Market

Europe Lactic Acid Market  Size and Growth Analysis:

Europe Lactic Acid Market was worth USD 0.92 billion in 2021 and estimated to be growing at a CAGR of 16.21%, to reach USD 1.95 billion by 2027

Europe Lactic Acid Market Overview:

Lactic Acid is a white compound that is water-soluble in 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. It’s variants are approved as food additives in various countries. It is widely used in preparing foods of various kinds.

The Europe 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 are high price of PLA over other conventional polymers and the volatility of prices of raw materials like corn and sugar.

Europe Lactic Acid Market Segmentation:

The Europe Lactic Acid market is divided on the basis of application

• electronics

• agriculture

• packaging

• textile

• biomedical

Europe Lactic Acid Market geographical Analysis

The Europe Lactic Acid market is divided based on geography into

• United Kingdom

• France

• Germany

• Italy

• Spain

Europe has the second-largest market in the world for lactic acid in terms of share, followed by the North America region. Factors such as rising awareness about recyclability and the growing personal care industry is expected to propel the market growth in the region.

Europe Lactic Acid Market Key players:

1. BASF SE (Germany)

2. CSM N.V. (The Netherlands)

3. The Dow Chemical Company (U.S.)

4. Teijin Ltd. (Japan)

5. NatureWorks LLC (U.S)