The newly Polylactic Acid (PLA) market report provided a complete view of the present and future market. Deep analysis of enterprise competition pattern, enterprise product advantages and disadvantages, regional industrial layout characteristics. The base year considered for the study is 2018 and the market size is projected from 2019 to 2026.
Product Information
Polylactic acid (PLA) is a biodegradable and compostable thermoplastic produced from fermentable sugar available in various renewable sources, such as corn starch, sugarcane, tapioca roots, and wheat.
On the basis of products, the various types include Corn, Tapioca, Sugarcane, and Others. On the basis of application, the Polylactic Acid (PLA) is segmented into Packaging, Agriculture, Electronics, Textiles, Bio-Medical, and Others. The Packaging segment is expected to account for the largest market share during the forecast period owing to the unique mechanical, thermal and barrier properties of PLA and the growing consumption of packaged and processed foods such as frozen and ready-to-eat meals, snack foods, and cake mixes.
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Market Insights
According to a new research study, the Polylactic Acid (PLA) market size is expected to reach USD xxxx million by 2026 from USD xxxx million in 2019, with a compound annual growth rate of xxxx% during the forecast period. The Polylactic Acid (PLA) global market is driven by the increasing demand in the packaging applications in the food & beverages and the growing demand from the agriculture industry. In addition, the government support to promote eco-friendly products is also projected to propel the growth of the market. The rapid industrialization and urbanization in developing economies, such as China and India, are expected to drive the growth of the market. However, a higher cost than synthetic plastics can pose a challenge to market growth.
Regional Segment Analysis
The report focuses on detailed analysis of major regions like North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia), and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
North America was the largest market in 2018 and is expected to remain dominant during the forecast period. The regional market growth depends on the growing demand for bioplastics and the addition of new manufacturing facilities. In addition, large production capacity, feedstock abundancy, and supportive legal framework are anticipated to boost market growth in the North America region. Asia-Pacific is expected to register the highest growth rate during the forecast period, owing to the increasing demand from the packaging and healthcare sectors.
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Competitive Players
The Polylactic Acid (PLA) market is full of competition due to the presence of many large and small companies and local manufacturers. The leading vendors in the market are BASF, Cereplast, Dow Chemicals, Mitsubishi Chemical Corporation, and Natureworks. Other prominent vendors in the market are Solegear, Sulzer, Synbra, Tenjin, Thyssenkrupp, Zhejiang Hisun Biomaterials Co. Ltd., and others.
Target Audience for this Report
• Polylactic Acid (PLA) manufacturers
• Polylactic Acid (PLA) importers and exporters
• Polylactic Acid (PLA) traders, distributors, and suppliers
• Raw material suppliers of Polylactic Acid (PLA)
• Polylactic Acid (PLA) industry associations
• Product managers, Polylactic Acid (PLA) industry administrator, C-level executives of the industries
• Market Research and consulting firms
• Small and Medium-sized Enterprises (SMEs)
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Key questions answered in the report
• What will the market size and growth rate be in 2026?
• What segment or region will drive or lead market growth and what are the reasons?
• How will market drivers, constraints and future opportunities affect market dynamics and subsequent analysis of relevant trends?
• What key strategies are used by top vendors to increase revenue?
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