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Increase in demand for lactide in several end use industries is driving the Lactide Market growth.

HYDERABAD, TELANGANA, INDIA, February 8, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Lactide Market size is forecasted to reach US$3.2 billion by 2027 after growing at a CAGR of 7.5% during the forecast period 2022-2027. Lactide is a type of lactone cyclic ester produced by the multiple esterification of lactic acid or hydroxy carboxylic acid. It is mainly produced by two different processes such as lactic acid polycondensation reaction into oligo and other one is oligo thermally depolymerized to form the cyclic lactide. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Lactide-Market-Research-511944

Key takeaways:

This IndustryARC report on the Lactide Market highlights the following areas -

1. Asia Pacific is the dominating region in the global lactide market. This growth is mainly attributed to the increased demand for lactide in packaging, medical and healthcare, and agriculture application.

2. The significant growth in global polylactic acid production is driving the growth of global Lactide market.

3. Lactide plays an important role in several applications such as food packaging, drug delivery, and tissue engineering which is expected to provide significant growth opportunity for the global market.

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https://www.industryarc.com/pdfdownload.php?id=511944

Segmental Analysis:

1. The L-lactide segment held the largest lactide market share in 2021 and is projected to grow with a CAGR of 8.2% during the forecast period. The biosynthetic, natural, and synthetic polymers such as L-lactide and polyhydroxyalkanoate are considered environmentally friendly and biocompatible.

2. Asia Pacific held the largest lactide market share in 2021, with a share of 35%. This growth is mainly attributed to the increase in demand for lactide in several end use industries in this region such as packaging, electrical and electronics, medical and healthcare, and agriculture including many other. The presence of numerous developing countries such as China, India, Indonesia, and Malaysia including others are the major countries supporting the growth of the market.

3. The medical and healthcare segment is expected to grow at a fastest CAGR of 9.2% during the forecast period in the global Lactide market. Lactide is mainly adopted in the production of polylactic acid which further use in wide range of applications. It is remarkably used in approved therapeutic devices and drug delivery

Competitive Landscape:

The top 5 players in the Lactide Industry are -

1. Biosynth Carbosynth
2. Polysciences Inc.
3. Nanosoft Polymers
4. Futerro
5. Tokyo Chemical Industry Co., Ltd.

Click on the following link to buy the Lactide Market Report:
https://www.industryarc.com/reports/request-quote?id=511944

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Related Reports:

A. Lactic Acid Market
https://www.industryarc.com/Report/15126/lactic-acid-market.html

B. Organic Acids Market
https://www.industryarc.com/Report/16128/organic-acids-market.html

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