Polylactic acid (PLA) is a high strength thermoplastic polymer that can be made from annually renewable resources such as cornstarch, tapioca roots, sugarcane, etc. Polylactic acid (PLA) is derived from sustainable resources, hence it is biodegradable and it is a compostable. Hence, it can be a potential help to reduce problems such as solid waste disposal.
Polylactic acid (PLA) finds significant number of applications in industries such as biodegradable polymers, packaging, agriculture, medical and pharmaceuticals, and personal care. Polylactic acid (PLA) is one of the most prominent biodegradable plastics market. Polylactic acid (PLA) based plastic is used in food and beverages packaging, consumer goods packaging, automobiles, agriculture, textiles and electronics. The largest segment is packaging of food and beverages. Polylactic acid (PLA) market for textiles is expected to grow fastest among these.
The global polylactic acid (PLA) market is expected to grow at a high CAGR. Major factors contributing to the growth of global polylactic acid (PLA) market includes increased bio-based production and huge demand from end-use industries. The problems such as rising crude oil prices and limited fossil fuel resources also contribute to the rising demand as plastics are mostly manufactured using these resources. The global concern over environmental sustainability, lead to the rising demand for green packaging. These factors have also initiated some favourable policies to find substitutes such as bioplastics. These bioplastics are contributing to the overall growth of global polylactic acid (PLA) market.
There are certain restraining factors to the global polylactic acid (PLA) market. Complete degradation of polylactic acid (PLA) requires specific composting system, which adds up to further asset requirements. However, reinforcement of polylactic acid (PLA) with materials such as natural fibres would bring economical and ecological benefits to the market. This will widen the gates for the global polylactic acid (PLA) market. The manufacturers are investing in their R&D sections to improve the polylactic acid (PLA) production process. These developments will witness new applications and better performance of the product.
Europe is the leader in the market and is expected to remain the same over the forecast period. Asia Pacific polylactic acid (PLA) market is expected to be the prospective growth market for the forecast period. In China, raw materials are found in abundance, thus manufacturers can take advantage of this to make profit.
The major manufacturers in the global polylactic acid (PLA) market are NatureWorks LLC, Purac, Galactic, Pyramid Bioplastics, BASF, and Synbra among others. Other key vendors covered in the global polylactic acid (PLA) market report includes Bayer, Cargil, Danimer Scientific, E.I du Pont de Nemours, ExxonMobil, Futerro, Henan Jindan Lactic Acid Technology, Mitsubishi Chemical, Phusis, PTT Chemicals, Sulzer Chemtec, Teijin, The Dow Chemical, Wei Mon Industry.
Decision Databases is involved in providing research reports and company profiles in the global polylactic acid (PLA) market in terms of revenue and output/volume. The polylactic acid (PLA) market is segmented based on the global applications, geographic presence, by products and ingredients. We offer an inclusive category-specific market outlook. We provide access to a comprehensive collection of companies in the industry. The companies can strategize and execute business operations through our competitor analysis. Find the global industry analysis, market size, share, growth, and trends information in our polylactic acid (PLA) profiles.
SEGMENTATIONS IN REPORT:
Polylactic Acid (PLA) By Applications:
1. INTRODUCTION TO THE POLYLACTIC ACID (PLA) MARKET
2. EXECUTIVE SUMMARY
3. MARKET ANALYSIS OF POLYLACTIC ACID (PLA)
4. POLYLACTIC ACID (PLA) MARKET ANALYSIS BY APPLICATIONS
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