Polylactic Acid (PLA) Market Growth Factors, Applications, Regional Analysis, and Key Players

Market research report implementation is becoming very crucial for the successful businesses as it provides insights into revenue growth and sustainability initiative. Polylactic Acid (PLA) market report deals with the market research of the Chemical and Materials industry by considering several parameters that are affecting the business growth. The report covers the precise study of the Chemical and Materials industry with respect to market definition, market segmentation, key developments in the market, competitive analysis and research methodology with the best tools and techniques. An excellent Polylactic Acid (PLA) market document not only gives an advantage to grow business but also makes outshine the competition.

With the help of widespread Polylactic Acid (PLA) market report, insights and realities of the Chemical and Materials industry can be focused which supports to keep the business on right track. The report contains remarkable market data, present market trends, product consumption, environment, technological innovation, future prospects, upcoming technologies and the technical progress in the related industry. A thorough analysis has been performed in this report to know the potential of the market in the present and the future prospects from various angles. Global Middle East and Africa Polylactic Acid (PLA) report also contains a precise investment analysis which forecasts forthcoming opportunities for the market players in the Chemical and Materials industry.

The polylactic acid (PLA) market is expected to grow significantly in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.6% in the forecast period of 2022 to 2029 and is expected to reach USD 2,416,823.42 thousand by 2029. The major factor driving the growth of the polylactic acid (PLA) market is the increasing demand for a multi-layer packaging for preventing oxygen and water permeation, increasing demand for biodegradable packaging alternatives from the packaging industry, PLA can be an alternative to petroleum-based polymers, growing demand for bio-based plastics film in agriculture, imposition of strict regulations on environmental safety by various governments.

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Driver:

Increasing demand for biodegradable packaging alternatives from the packaging industry
The pandemic has led to a positive impact on the growth of the packaging industry. It has resulted in high demand for plastic packaging, including eco-friendly substitutes of plastics such as packaging materials made from PLA. Food manufacturers, who initially opted for other types of packaging, had initiated using PLA-based packaging, as products are economical, safe, and enduring. Additionally, due to the increase in sustainability in the packaging industry for maintaining product quality, biopolymer packaging materials such as PLA-based materials are increasing as PLA decomposes into water and carbon dioxide in approximately 47 to 90 days. Four times faster than PET-based bags used in various packaging. Moreover, their low cost, renewable raw materials, and agro-industrial waste usage drive their demand, as polylactic acid is obtained from renewable sources.

PLA can be an alternative to petroleum-based polymers
Apart from this, polylactic acid is used in manufacturing various components used in the automotive sector. Polylactic acids are used in applications such as the interior parts and hood under components. These products are known for reducing their carbon footprint owing to their high bio content. PLA offers numerous properties such as UV resistance, impact resistance, high gloss, dimensional stability, and coloring ability. These factors make it an alternative to most traditional plastics made up of petroleum products and raw materials such as polyethylene terephthalate, polycarbonate, polybutylene terephthalate, and acrylonitrile butadiene styrene, and polyamide, which are preferred for automotive engine compartments and interiors and other uses as well.

Growing demand for bio-based plastics film in agriculture
With growing awareness regarding disposal problems of non-degradable films, applications of polylactic acid-based mulch films are expected to increase in agriculture. Mulch films are extensively used in the cultivation of fruits & vegetables. The mechanical properties of PLA are comparable to the existing mulch film products and have the advantage of being completely biodegradable through a single growing season. This will positively impact the market growth and act as a global polylactic acid (PLA) market driver.

Some key players mentioned in the report are:

BASF SE, Futerro, NatureWorks LLC, TotalEnergies Corbion, Sulzer Ltd, Mitsubishi Chemical Corporation, TORAY INDUSTRIES, INC., Merck KGaA, Musashino Chemical Laboratory, Ltd., Evonik Industries AG, Polyvel Inc., UNITIKA LTD., Jiangxi Academy of Sciences Biological New Materials Co., Ltd., Shanghai Tong-jie-liang Biomaterials Co., Ltd., Zhejiang Hisun Biomaterials Co., Ltd., and Radici Partecipazioni SpA.

Key Insights that Study is going to provide:

· The 360-degree Global Polylactic Acid (PLA) overview based on a global and regional level

· Market Share & Sales Revenue by Key Players & Emerging Regional Players

· A separate chapter on Market Entropy to gain insights on Leaders aggressiveness towards market [Merger & Acquisition / Recent Investment and Key Developments]

· May vary depending upon availability and feasibility of data with respect to Industry targeted

· Patent Analysis** No of patents / Trademark filed in recent years.

· A complete and useful guide for new market aspirants

· Forecast information will drive strategic, innovative and profitable business plans and SWOT analysis of players will pave the way for growth opportunities, risk analysis, investment feasibility and recommendations

· Various Global Polylactic Acid (PLA) industry leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.

Key Market Segmentation:

By Type (Racemic PLLA (Poly-L-Lactic Acid), Regular PLLA (Poly-L-Lactic Acid), PDLA (Poly-D-Lactic Acid), and PDLLA (Poly-Dl-Lactic Acid)), Raw Material (Corn, Cassava, Sugarcane, Sugar Beet, and Others), Form (Films and Sheets, Coatings, Fiber, Others), Application (Packaging, Transport, Agriculture, Medical, Electronics, Textile, Hygiene, Others)

The countries covered in the Global Polylactic Acid (PLA) Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Table of Contents:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by End-user

Customer Landscape

Geographic Landscape

Key leading countries

Vendor Landscape

Vendor Analysis

Appendix

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