North American Polylactic Acid (PLA) Market Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2025

North American Polylactic Acid (PLA) Market is expected to grow at a CAGR of around 16.6% during the forecast period. North America is one of the major markets in global PLA market. There is a wide application area of PLA in polymers which are being used as a substitute in major industries of the region such as automobile, medical, food packaging, electronics, aerospace, agriculture industry, and others. PLA is being used as one of the best biodegradable polymers for these applications. The polymer has remarkable chemical and mechanical properties to be used as a renewable and economical substitute for convention plastic parts.

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The companies in the market include BASF SE, Evonik Industries AG, NatureWorks LLC, and DuPont de Nemours, Inc., Inc. Corbion N.V., Mitsubishi Gas Chemical Co., Inc.

PLA polymers are being used in the automobile industry to manufacture air filter part, interior trim parts for aesthetic purpose and other interior and exterior parts of the automotive body. With the growth in automobile, food packaging, medical and agriculture industry of the region, the adoption is being reported in the US and Canada for PLA polymers. The automotive sector is one of the major sectors contributing to the PLA market in North America.

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The companies in the market include BASF SE, NatureWorks LLC, and DuPont de Nemours, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in June 2017, NatureWorks LLC signed an agreement with Plaxica's Optipure chemical processing technology to produce D-lactic acid, serving as a building block for a further range of performance Ingeo PLA grades. This agreement will enable the company to expand the range of efficient PLA products.

Market Segmentation

Market by Raw Material

o Corn-based PLA
o Sugar-based PLA
o Cassava-based PLA
o Others

Market by Application

o Packaging
o Construction Material
o Catering and Tableware
o Agricultural Material
o Consumer Goods
o Electronic Material
o Automobile
o Others

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