Global L-lactide Market Expected to Expand at 14.1 Percent CAGR by 2026
July 22, 2018
The global L-lactide market is poised to climb at a compound annual growth rate of 14.1 percent between 2018 and 2026, according to research published by Transparency Market Research. The market was valued at $781.81 million in 2017.
Increased consumer preference for biodegradable materials and a rise in environmental concerns are driving the market. The bioplastic polylactic acid is produced using L-lactide.
Demand for L-lactide is rising in the medical sector. It’s used in such applications as drug delivery systems, tissue regeneration, and medical implants, owing to its favorable biocompatibility and mechanical properties.
Stringent regulations on plastic consumption in developed regions like North America and Europe are expected to have a positive influence on the expansion of the market. The use of L-lactides in soil retention sheeting, agricultural films, and waste bags offer potential opportunities for the market.