Global Polylactic Acid Market Expected to Retain Dominance & Grow at an Encouraging CAGR to 2023

Polylactic Acid Market
Global Polylactic Acid (PLA) Market Information: by Type [PLLA (Poly-L-lactic Acid), PDLA (Poly-D-lactic Acid), PDLLA (Poly-DL-lactic Acid)], Application (Automotive, Textile, Packaging, Consumer Goods, Electrical & Electronics, and Others), and by Region- Forecast till 2023

Polylactic Acid Market to 2023

Polylactic Acid (PLA) can be synthesized by condensation as well as polymerization process.. It belongs to the family of aliphatic polyester commonly made from alpha-hydroxy acids and is considered as thermoplastic polyester. It possess superior characteristics such as biodegradability and recyclability, which make it suitable for the various end use applications such as consumer goods, electrical & electronics, automotive, textile, packaging, and others.

Polylactic acid is a type of thermoplastic polyester obtained from wide variety of renewable feedstock such as wheat, corn, sugarcane, starch, and tapioca roots. PLA is made through two different processes namely condensation and polymerization. It is biodegradable as well as biocompatible in nature. PLA is a thermoplastic material and find its utilization in numerous application such as automotive, packaging, textile, electrical & electronics, consumer goods, and others.

Top 10 Global key Players & Their Strategy

Some of the prominent players operating in the Global Polylactic Acid Market are

  • BASF SE (Germany),
  • The DOW Chemical Company (U.S.),
  • Corbion (the Netherlands),
  • TEIJIN LIMITED. (Japan),
  • NatureWorks LLC (U.S.),
  • Synbra Technology bv (the Netherlands),
  • Galactic (Belgium),
  • Sulzer Ltd (Switzerland),
  • Hitachi, Ltd. (Japan),
  • Musashino Chemical Laboratory, Ltd. (Japan), and others.

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Competitive Analysis

Stringent regulations implemented by various government bodies regarding the use of non-biodegradable plastic is estimated to propel the growth of the market. Moreover, depleting oil reserves coupled with increasing awareness regarding the benefits offer by the PLA is expected to drive the market growth. However, high cost associated with the production of PLA as compared to conventional plastics is anticipated to hamper the growth of the market during the review period.

Target Audience

  • Polylactic Acid Manufacturers
  • Traders and Distributors of Polylactic Acid
  • Production Process Industries
  • Potential Investors
  • Raw Material Suppliers
  • Nationalized Laboratory

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Segmentation Analysis

The Global Polylactic Acid Market is categorized on the basis of type, application, and region. On the basis of type, the market is classified into PLLA (Poly-L-lactic Acid), PDLA (Poly-D-lactic Acid), PDLLA (Poly-DL-lactic Acid). On the basis of application, the market is segmented into automotive, textile, packaging, consumer goods, electrical & electronics, and others. On the basis of regions, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis           

Additionally, rising automotive production and sales as well as growing demand for household appliances in developing economies along with increasing disposable income of consumer is estimated to propel the growth of the market. Furthermore, economic development in Asia Pacific, particularly China, India, and Vietnam, has presented opportunities for PLA in the transportation sector.

 

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