The new research report on Polylactic Acid Market offered by DecisionDatabases.com provides Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2023. Polylactic acid (PLA) is a high strength thermoplastic polymer that can be made from annually renewable resources such as cornstarch, tapioca roots, sugarcane, etc. Polylactic acid (PLA) is derived from sustainable resources, hence it is biodegradable and it is a compostable. Hence, it can be a potential help to reduce problems such as solid waste disposal.
Polylactic acid (PLA) finds significant number of applications in industries such as biodegradable polymers, packaging, agriculture, medical and pharmaceuticals, and personal care. Polylactic acid (PLA) is one of the most prominent biodegradable plastics market. Polylactic acid (PLA) based plastic is used in food and beverages packaging, consumer goods packaging, automobiles, agriculture, textiles and electronics. The largest segment is packaging of food and beverages. Polylactic acid (PLA) market for textiles is expected to grow fastest among these.
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The global polylactic acid (PLA) market is expected to grow at a high CAGR. Major factors contributing to the growth of global polylactic acid (PLA) market includes increased bio-based production and huge demand from end-use industries. The problems such as rising crude oil prices and limited fossil fuel resources also contribute to the rising demand as plastics are mostly manufactured using these resources. The global concern over environmental sustainability, lead to the rising demand for green packaging. These factors have also initiated some favourable policies to find substitutes such as bioplastics. These bioplastics are contributing to the overall growth of global polylactic acid (PLA) market.
Europe is the leader in the market and is expected to remain the same over the forecast period. Asia Pacific polylactic acid (PLA) market is expected to be the prospective growth market for the forecast period. In China, raw materials are found in abundance, thus manufacturers can take advantage of this to make profit.
Major player assessed in the report are:
– NatureWorks LLC
– Pyramid Bioplastics
– Danimer Scientific
Geographically, this market has been segmented into regions such as North America, Europe, Latin America, Asia Pacific and the Middle East & Africa. The study details country-level aspects based on each segment and gives estimates in terms of market size.
Table Of Contents – Overview
4.Polylactic Acid Market Analysis By Applications
5.Polylactic Acid Market Analysis By Region
6.Competitive Landscape Of Polylactic Acid Companies
7.Company Profiles Of Polylactic Acid Industry
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