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Polylactic Acid (PLA) Market Competitive Analysis 2019 | BASF SE, Danimer Scientific, Futerro SA, NatureWorks LLC, Total Corbion PLA, Synbra Technology bv, Hitachi, Ltd., Sulzer Ltd, Dow
Polylactic Acid (PLA)
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Competitive Analysis:
Global polylactic 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 polylactic acid (PLA) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa. 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 Definition: Global Polylactic Acid (PLA) Market
Polylactic 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. Polylactic 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.
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: Global Polylactic 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
• Other
By Geography
• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa
Key Developments in the Market:
• In December 2018, Total Corbion PLA announced that they had established a new PLA (Polylactic Acid) manufacturing facility in Rayong, Thailand which will provide around 75,000 tons of annual capacity. The facility will provide “Luminy PLA” resins and is expected to meet the growing demand of bioplastics globally. The availability of environmental friendly plastics will also help various other manufacturers and brands to increase their production capacity which was based on PLA
• In August 2017, BASF SE announced that they had completed the acquisition of “Innofil3D”, with the help of this acquisition BASF SE will be able to provide plastic filaments as well as granules for 3D printing applications. Innofil3D based out of Netherlands, is an established leader in providing unique plastic filaments to the 3D printing market and their expertise will be a value-added addition to the BASF organization
Key Insights in the report:
• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved
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