L-lactide, derived from lactic acid, a natural compound found in milk and other biological sources, is a cyclic ester. It serves as a crucial precursor for manufacturing biodegradable polymers such as polylactic acid (PLA). L-lactide finds diverse applications in biomedical devices, pharmaceuticals, and the production of biodegradable plastics.
L-lactide is available in different types, including purity levels above 98% and above 99%, among others. L-lactide with a purity exceeding 98% is particularly refined and primarily utilized in the production of poly(lactic acid) (PLA). Its applications span various industries, including food and beverage packaging, electrical and electronics, medical and healthcare sectors, and other end-user applications.
The l-lactide market research report is one of a series of new reports that provides l-lactide market statistics, including l-lactide industry global market size, regional shares, competitors with a l-lactide market share, detailed l-lactide market segments, market trends, and opportunities, and any further data you may need to thrive in the l-lactide industry. This l-lactide research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The l-lactide market size has grown rapidly in recent years. It will grow from $1.28 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be credited to a variety of factors, including increasing governmental regulations, rising consumer awareness and preference for sustainable and eco-friendly products, fluctuations in oil prices impacting the cost competitiveness of bioplastics, the necessity for safe and non-toxic packaging in the food and beverage sector, and the medical and healthcare industry's demand for biocompatible and biodegradable materials.
The l-lactide market size is expected to see rapid growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to the substitution of traditional plastics with l-lactide, increasing disposable incomes, heightened investment in research and development, growing demand for biodegradable plastics, and corporate sustainability initiatives. Key trends expected during this period include the integration of l-lactide into smart packaging technologies, advancements in nanotechnology, innovations in recycling technologies to enhance l-lactide reprocessing, the development of new medical devices and drug delivery systems, and the expansion of l-lactide applications in 3D printing technologies.
The rising demand for biodegradable plastics is set to drive the expansion of the L-lactide market in the foreseeable future. Biodegradable plastics, which can naturally decompose in the environment with the assistance of microorganisms, break down into water, carbon dioxide, and biomass. Factors such as heightened environmental concerns, stricter regulations on plastic waste, and consumer preference for sustainable and eco-friendly products contribute to the increasing demand for biodegradable plastics. L-lactide is crucial for producing PLA, a versatile and biodegradable plastic that helps mitigate the environmental impact of plastic products by converting renewable resources into sustainable materials. For instance, in 2023, the utilization of bioplastics, as reported by European Bioplastics EV, a Germany-based non-profit association, rose from 1,507 metric tons in 2022 to 1,799 metric tons in 2023. Consequently, the growing demand for biodegradable plastics is propelling the expansion of the L-lactide market.
Growing environmental awareness is expected to drive the expansion of the L-lactide market in the future. This awareness encompasses concerns over the detrimental effects of human activities on the natural environment, such as pollution, climate change, and resource depletion. Heightened awareness of these issues, including climate change, pollution, habitat destruction, and resource depletion, has spurred individuals and organizations to pursue sustainability and conservation initiatives. L-lactide plays a crucial role in addressing these environmental challenges by offering sustainable, renewable, and biodegradable alternatives to conventional petroleum-based polymers across various applications. For example, in July 2023, according to the UK's Office for National Statistics, 73.6% of UK residents have adopted environmental lifestyle changes, with 12.8% making substantial adjustments. Women (91%) are more likely than men (81.7%) to have made adjustments, while the highest adoption rates are among those aged 50 to 64 (90.7%), compared to the lowest rates among 16 to 24-year-olds (77.2%). Hence, the rise in environmental concerns is a key driver behind the growth of the L-lactide market.
Leading companies in the l-lactide market are actively pursuing innovative strategies, such as advancements in lactide technologies, to strengthen their competitive position. Lactide technologies encompass the methods and advancements in the production and utilization of lactide, a crucial monomer derived from lactic acid. This substance is pivotal in the creation of biodegradable polymers such as polylactic acid (PLA), which find applications across diverse sectors including packaging and medical devices. For instance, in December 2023, Sulzer AG, a Swiss industrial machinery and equipment manufacturer, introduced SULAC, a cutting-edge technology designed for lactide production. This initiative reinforces its leadership in biopolymers and sustainability. The technology facilitates the conversion of lactic acid into lactide, a key step in the production of PLA, a sustainable bioplastic. Licensed under SULAC, producers of PLA can seamlessly integrate new capabilities in lactic acid to lactide conversion, enabling the creation of various high-quality biopolymer grades while optimizing operational efficiencies.
Major companies operating in the l-lactide market are Mitsui Chemicals Inc., BASF SE, Teijin Limited, Biomer Inc., Toyobo Co. Ltd., Zhejiang Hisun Biomaterials Co. Ltd., Corbion NV, Unitika Ltd., Jindan Lactic Acid Technology Co. Ltd., Danimer Scientific Inc., Synbra Technology BV, NatureWorks LLC, Polysciences Inc., Musashino Chemical Laboratory Ltd., Futerro SA, Chang Chun Group, Shenzhen Esun Industrial Co. Ltd., NaturePlast Pvt. Ltd., Virgin Galactic Holdings Inc., Wei Mon Industry Co. Ltd., Shanghai Tong-Jie-Liang Biomaterials Co. Ltd., Nantong Jiuding Biological Engineering Co. Ltd.
North America was the largest region in the l-lactide market in 2023. The regions covered in the l-lactide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the l-lactide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The l-lactide market consists of sales of glycolide, 3D printing filaments, biodegradable foams, and polylactic acid (PLA) plastics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
L-lactide is available in different types, including purity levels above 98% and above 99%, among others. L-lactide with a purity exceeding 98% is particularly refined and primarily utilized in the production of poly(lactic acid) (PLA). Its applications span various industries, including food and beverage packaging, electrical and electronics, medical and healthcare sectors, and other end-user applications.
The l-lactide market research report is one of a series of new reports that provides l-lactide market statistics, including l-lactide industry global market size, regional shares, competitors with a l-lactide market share, detailed l-lactide market segments, market trends, and opportunities, and any further data you may need to thrive in the l-lactide industry. This l-lactide research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The l-lactide market size has grown rapidly in recent years. It will grow from $1.28 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be credited to a variety of factors, including increasing governmental regulations, rising consumer awareness and preference for sustainable and eco-friendly products, fluctuations in oil prices impacting the cost competitiveness of bioplastics, the necessity for safe and non-toxic packaging in the food and beverage sector, and the medical and healthcare industry's demand for biocompatible and biodegradable materials.
The l-lactide market size is expected to see rapid growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to the substitution of traditional plastics with l-lactide, increasing disposable incomes, heightened investment in research and development, growing demand for biodegradable plastics, and corporate sustainability initiatives. Key trends expected during this period include the integration of l-lactide into smart packaging technologies, advancements in nanotechnology, innovations in recycling technologies to enhance l-lactide reprocessing, the development of new medical devices and drug delivery systems, and the expansion of l-lactide applications in 3D printing technologies.
The rising demand for biodegradable plastics is set to drive the expansion of the L-lactide market in the foreseeable future. Biodegradable plastics, which can naturally decompose in the environment with the assistance of microorganisms, break down into water, carbon dioxide, and biomass. Factors such as heightened environmental concerns, stricter regulations on plastic waste, and consumer preference for sustainable and eco-friendly products contribute to the increasing demand for biodegradable plastics. L-lactide is crucial for producing PLA, a versatile and biodegradable plastic that helps mitigate the environmental impact of plastic products by converting renewable resources into sustainable materials. For instance, in 2023, the utilization of bioplastics, as reported by European Bioplastics EV, a Germany-based non-profit association, rose from 1,507 metric tons in 2022 to 1,799 metric tons in 2023. Consequently, the growing demand for biodegradable plastics is propelling the expansion of the L-lactide market.
Growing environmental awareness is expected to drive the expansion of the L-lactide market in the future. This awareness encompasses concerns over the detrimental effects of human activities on the natural environment, such as pollution, climate change, and resource depletion. Heightened awareness of these issues, including climate change, pollution, habitat destruction, and resource depletion, has spurred individuals and organizations to pursue sustainability and conservation initiatives. L-lactide plays a crucial role in addressing these environmental challenges by offering sustainable, renewable, and biodegradable alternatives to conventional petroleum-based polymers across various applications. For example, in July 2023, according to the UK's Office for National Statistics, 73.6% of UK residents have adopted environmental lifestyle changes, with 12.8% making substantial adjustments. Women (91%) are more likely than men (81.7%) to have made adjustments, while the highest adoption rates are among those aged 50 to 64 (90.7%), compared to the lowest rates among 16 to 24-year-olds (77.2%). Hence, the rise in environmental concerns is a key driver behind the growth of the L-lactide market.
Leading companies in the l-lactide market are actively pursuing innovative strategies, such as advancements in lactide technologies, to strengthen their competitive position. Lactide technologies encompass the methods and advancements in the production and utilization of lactide, a crucial monomer derived from lactic acid. This substance is pivotal in the creation of biodegradable polymers such as polylactic acid (PLA), which find applications across diverse sectors including packaging and medical devices. For instance, in December 2023, Sulzer AG, a Swiss industrial machinery and equipment manufacturer, introduced SULAC, a cutting-edge technology designed for lactide production. This initiative reinforces its leadership in biopolymers and sustainability. The technology facilitates the conversion of lactic acid into lactide, a key step in the production of PLA, a sustainable bioplastic. Licensed under SULAC, producers of PLA can seamlessly integrate new capabilities in lactic acid to lactide conversion, enabling the creation of various high-quality biopolymer grades while optimizing operational efficiencies.
Major companies operating in the l-lactide market are Mitsui Chemicals Inc., BASF SE, Teijin Limited, Biomer Inc., Toyobo Co. Ltd., Zhejiang Hisun Biomaterials Co. Ltd., Corbion NV, Unitika Ltd., Jindan Lactic Acid Technology Co. Ltd., Danimer Scientific Inc., Synbra Technology BV, NatureWorks LLC, Polysciences Inc., Musashino Chemical Laboratory Ltd., Futerro SA, Chang Chun Group, Shenzhen Esun Industrial Co. Ltd., NaturePlast Pvt. Ltd., Virgin Galactic Holdings Inc., Wei Mon Industry Co. Ltd., Shanghai Tong-Jie-Liang Biomaterials Co. Ltd., Nantong Jiuding Biological Engineering Co. Ltd.
North America was the largest region in the l-lactide market in 2023. The regions covered in the l-lactide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the l-lactide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The l-lactide market consists of sales of glycolide, 3D printing filaments, biodegradable foams, and polylactic acid (PLA) plastics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. L-lactide Market Characteristics3. L-lactide Market Trends And Strategies32. Global L-lactide Market Competitive Benchmarking33. Global L-lactide Market Competitive Dashboard34. Key Mergers And Acquisitions In The L-lactide Market
4. L-lactide Market - Macro Economic Scenario
5. Global L-lactide Market Size and Growth
6. L-lactide Market Segmentation
7. L-lactide Market Regional And Country Analysis
8. Asia-Pacific L-lactide Market
9. China L-lactide Market
10. India L-lactide Market
11. Japan L-lactide Market
12. Australia L-lactide Market
13. Indonesia L-lactide Market
14. South Korea L-lactide Market
15. Western Europe L-lactide Market
16. UK L-lactide Market
17. Germany L-lactide Market
18. France L-lactide Market
19. Italy L-lactide Market
20. Spain L-lactide Market
21. Eastern Europe L-lactide Market
22. Russia L-lactide Market
23. North America L-lactide Market
24. USA L-lactide Market
25. Canada L-lactide Market
26. South America L-lactide Market
27. Brazil L-lactide Market
28. Middle East L-lactide Market
29. Africa L-lactide Market
30. L-lactide Market Competitive Landscape And Company Profiles
31. L-lactide Market Other Major And Innovative Companies
35. L-lactide Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
L-lactide Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on L-lactide market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for L-lactide ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The L-lactide market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Purity Above 98%; Purity Above 99%; Other Types2) By Application: Polylactic Acid; Medical Intermediate; Other Applications
3) By End user: Food And Beverage Packaging; Electrical And Electronics; Medical And Health Care; Other End-Users
Key Companies Mentioned: Mitsui Chemicals Inc.; BASF SE; Teijin Limited; Biomer Inc.; Toyobo Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Mitsui Chemicals Inc.
- BASF SE
- Teijin Limited
- Biomer Inc.
- Toyobo Co. Ltd.
- Zhejiang Hisun Biomaterials Co. Ltd.
- Corbion NV
- Unitika Ltd.
- Jindan Lactic Acid Technology Co. Ltd.
- Danimer Scientific Inc.
- Synbra Technology BV
- NatureWorks LLC
- Polysciences Inc.
- Musashino Chemical Laboratory Ltd.
- Futerro SA
- Chang Chun Group
- Shenzhen Esun Industrial Co. Ltd.
- NaturePlast Pvt. Ltd.
- Virgin Galactic Holdings Inc.
- Wei Mon Industry Co. Ltd.
- Shanghai Tong-Jie-Liang Biomaterials Co. Ltd.
- Nantong Jiuding Biological Engineering Co. Ltd.
