In the first half of 2023, the 2-Hydroxypropanoic Acid (Lactic Acid) market in Asia experienced mixed sentiments. Initially, low demand and excess inventory led to reduced prices, supported by declining feedstock glycerol costs. However, an increase in demand from food and beverage industries in Q1 led to price inclines. In Europe, prices initially fell due to weak demand and lower glycerol costs but stabilized later due to supply-demand balance and rising food prices. The North American market saw oscillations, with subdued demand and production costs keeping prices stagnant until some improvement in supply-demand dynamics. Overall, the 2-Hydroxypropanoic Acid market sentiment was varied across regions.
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Definition
2-Hydroxypropanoic acid, commonly known as lactic acid, is a chemical compound with the molecular formula C₃H₆O₃. It is a versatile organic acid produced naturally during fermentation processes in various organisms, including muscles. Lactic acid exists in two stereoisomeric forms: L-lactic acid and D-lactic acid. It plays essential roles in biochemical processes, including energy production and pH regulation in living systems. In the industrial context, lactic acid finds applications as a food preservative, flavour enhancer, and pH regulator. It’s also used in cosmetics, pharmaceuticals, and bioplastics due to its biodegradable nature and chiral properties.
Key Details About the 2-Hydroxypropanoic Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the 2-Hydroxypropanoic Acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The 2-Hydroxypropanoic Acid Price chart, including India 2-Hydroxypropanoic Acid price, USA 2-Hydroxypropanoic Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the 2-Hydroxypropanoic Acid Price Trend:
2-Hydroxypropanoic acid, or lactic acid, has diverse industrial applications. In the food and beverage industry, it acts as a preservative, acidity regulator, and flavor enhancer. Its biodegradability makes it valuable in bioplastics production. In cosmetics, lactic acid is used as an exfoliant and skin moisturizer. It plays a crucial role in pharmaceuticals, being a building block for various compounds and formulations. Additionally, lactic acid finds use in the textile industry for dyeing and printing processes. Its multifunctional properties, biocompatibility, and environmentally friendly nature make it a sought-after ingredient in various industrial sectors.
Key Players:
- Cargill Inc
- Corbion NV
- Henan Jindan Lactic Acid Technology Co., Ltd
- DuPont de Nemour Inc
News and recent developments:
Sulzer has partnered with lactic acid producer Jindan New Biomaterials to produce polylactic acid (PLA), a biobased plastic. Jindan will use Sulzer’s licensed PLA technology in their new Henan Province plant, aiming to manufacture 75,000 tonnes of PLA annually for applications including food packaging, molded goods, and fibers. Sulzer will offer comprehensive service support for a smooth production launch.
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