Opportunities for the global polylactic acid market to reach $3.7 billion by 2024

According to a new market report published by Lucintel, the future of the polylactic acid market looks promising with opportunities in the packaging, bio-medical, textile, agriculture, and electronics end use industries. The global polylactic acid market is expected to reach an estimated $3.7 billion by 2024 with a CAGR of 13.8% from 2019 to 2024. The major growth drivers for this market are increasing government regulation, environment friendly and better mechanical properties as compared to other biopolymers.
In this market, L-lactic, D-lactic, and DL-lactic are the major product types of the polylactic acid. The L-lactic product type is expected to remain the largest market and will witness highest growth during the forecast period due to its increasing usage in packaging, biomedical, textile, and agriculture industry.
Within the polylactic acid market, packaging will remain the largest end use industry during the forecast period due to its biodegradable properties and favorable government policies. Lucintel predicts that the bio-medical end use is expected to witness the highest growth over the forecast period due its non-toxic and non-carcinogenic effects on human body.
Europe is expected to remain the largest market and will witness the highest growth over the forecast period supported by stringent government regulations, biodegradable, and mechanical properties.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of high heat resistant polylactic acid and production of PLA from second generation feedstock. Natureworks, Total Corbion, Pyramid Bioplastic, Weforyou, and Zhejiang Hisun are among the major manufactures of polylactic acid.
Lucintel, the leading global strategic consulting and market research firm, has analyzed growth opportunities in the global polylactic acid market by product type, end use industry, raw material, product form, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Polylactic Acid Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global polylactic acid market by product type, end use, raw material, product form, and region as follows:
By Product Type [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
• Poly(L-lactic) Acid
• Poly(D-lactic) Acid
• Poly(DL-lactic) Acid
By End Use [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
• Packaging
• Bio-medical
• Textile
• Agriculture
• Electronics
• Others

By Raw Material [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
• Corn Starch
• Sugarcane & Sugar Beet
• Cassava
• Others
By Product Form [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
• Film & Sheets
• Fiber
• Thermoforming
• Coating
• Others
By Region [Volume (M lbs) and $M shipment analysis for 2013 – 2024]:
• North America
− US
− Canada
− Mexico
• Europe
− Germany
− United Kingdom
− France
• Asia Pacific
− China
− Japan
− India
• The Rest of the World
− Central and South America
− Middle East and Africa

This 242-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include chemical market research reports, chemical industry analysis report, commercial due diligence report, business strategy consulting and market research reports online.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high-growth opportunities for the global polylactic acid market by product type (PLLA, PDLA, and PDLLA), end use (packaging, bio-medical, textile, agriculture, electronics, and others), raw material (corn starch, sugarcane & sugar beet, cassava, and others), product form (film & sheet, fiber, thermoforming, coating, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.

Lucintel LLC
Lucintel, 8951 Cypress Waters Blvd., Suite 160, Dallas, TX 75019
+1-972-636-5056
marketing@lucintel.com

This release was published on openPR.