Poly-lactic Acid (PLA) Market Share and Growth Opportunity: Type, Application, major Companies and more

Posted October 10, 2019 by dbm12345

Global Poly-lactic Acid (PLA) is expected to rise to an estimated value of USD 4283.25 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026.

Poly-lactic acid is a type of renewable plastic sourced from biodegradable raw materials such as corn, sugarcane, sugar beet and cassava. This bioplastic is produced from crystallization of lactic acid found in various plant sources. Poly-lactic acid finds its application in a number of end-use industries such as packaging, cosmetics & personal care, agriculture, textiles, medical, automotive and electronics among others.

Global Poly-lactic Acid (PLA) is expected to rise to an estimated value of USD 4283.25 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026.

This rise in market value can be attributed to the increasing demand for bio-degradable packaging alternatives as well as the growing advancements in technologies increasing the overall demand for bio-plastics.

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Competitive Analysis:

Global poly-lactic acid (PLA) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of poly-lactic acid (PLA) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in the global polylactic acid (PLA) market are BASF SE; Danimer Scientific; Futerro SA; NatureWorks LLC; Total Corbion PLA; Synbra Technology bv; Hitachi, Ltd.; Sulzer Ltd; TOYOBO CO., LTD.; Mitsubishi Chemical Corporation; Dow; TORAY INDUSTRIES, INC.; weforyou GmbH; Merck KGaA; Musashino Chemical Laboratory, Ltd.; The Chemical Company and Reliance Life Sciences among others.

Market Drivers:

High demand from the industries for the consumption of green, eco-friendly packaging alternatives; this factor is expected to augment growth of the market
Rising demand for bioplastics due to a growth of concern regarding the environment is also expected to have a positive effect on the market
Initiatives taken by various governments to promote the use of bioplastics is also expected to drive the growth of the market
Increasing demand for the product from personal care & cosmetics good is also expected to drive the market value
Market Restraints:

High costs associated with the advancements in research and production process of the product; this factor is expected to restrict the growth of the market
Requirement of specific conditions and requirements for the complete biodegradation of these products is also expected to restrict the growth of the market
Availability of fiber-based alternatives of the product is also expected to restrict the growth of the market
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Segmentation: Poly-lactic Acid (PLA) Market

By Raw Material (Corn, Cassava, Sugarcane & Sugar Beet, Others)
By Form (Fiber, Films & Sheets, Coatings, Others)
By Application (Packaging, Agriculture, Transport, Medical, Electronics, Textiles, Others)
By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
Reasons to Purchase this Report

Current and future of global anesthesia monitoring market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Tags polylactic acid pl amarket , polylactic acid pl amarket size , polylactic acid pl amarket trends
Last Updated October 10, 2019