Polylactic Acid (PLA) Market 2020 Industry Size, Trends, Global Market Size & Growth, Insights and Forecast Research Report 2023
The Global Polylactic Acid (PLA) Market 2020-2023 Research Report provides idealistic and determined details of the Polylactic Acid (PLA) Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Polylactic Acid (PLA) market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.
The Polylactic Acid (PLA) Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023
- BASF SE
- Danimer Scientific
- Eastman Chemicals
- Henen Jindan Lactic Acid Technology
- Mitsubishi Chemical
- Wei Mon Industry
The Polylactic Acid (PLA) Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Polylactic Acid (PLA) Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.
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Summary of Polylactic Acid (PLA) Market:
The global polylactic acid (PLA) market valued at USD 698.27 million, by revenue, in 2017, and it is anticipated to reach USD 2,091.29 million by 2023, at an estimated CAGR of 20.06% over the forecast period. Key factors driving the market growth include, favorable government policies promoting bio-plastics, and increasing demand for bio-plastic packaging.
Polylactic acid is prepared by ring opening polymerization of lactide, with various metal catalysts in solution, melt, or suspension. It can also be prepared by direct condensation of lactic acid monomers. Polylactic acid demand is expected to increase, due to the scarcity and volatility of prices of fossil fuels. Also, due to environmental concerns, companies and regulatory bodies are focused on finding substitutes for oil-based products. Bio-based plastics have a huge potential to reduce consumption and dependence on petroleum-based feedstock, and lessen negative impact on environment, by reducing carbon footprints. However, the market faces few challenges, such as price competitiveness and availability of cheaper alternatives, and difficulty in disposal of PLA.
Demand for Flexible Bio-plastic Packaging
Globally, shoppers use around 500 billion single-use plastic bags every year, and this number continues to rise. Petroleum-based plastics are a major source of global pollution. Many countries across the world have banned the use of lightweight, single-use plastic bags, or have started taxing it. In addition, consumers are also becoming more concerned toward the environmental impact of plastic packaging solutions. PLA provides the packaging industry with a renewable sustainable option for a variety of uses. Many of these include flexible packaging films made form PLA resin. The combination of desirable properties, such as high clarity, stiffness, and excellent printability, along with ease of processing PLA in the existing infrastructure, drives the demand for PLA in the eco-friendly and advanced packaging segment. The huge benefit of PLA as a bio-plastic is its versatility, supported by its natural degradability when exposed to the environment. For example, a PLA bottle left in the ocean would typically degrade in six to 24 months. Accordingly, there is a high potential for PLA to be very useful in short lifespan applications, where biodegradability is highly beneficial.
In terms of volume, the market is expected to be 286.37 kilo metric ton in 2017, and is anticipated to reach 830.1 kilo metric ton by 2023, at an estimated CAGR of 19.48%. The market has been segmented on the basis of raw material, form, and end-user industry. By raw material, corn starch is expected to dominate the global market. By form, films and sheets are expected to dominate the market. By region, North America has dominated the market in the past years, and it is expected to have the largest market share over the forecast period, with an estimated CAGR of 19.48%. Asia-Pacific is estimated to have the highest CAGR 21.89% over the forecast period. By end-user industry, packaging industry has the highest market share, and is expected to dominate the market by volume over the forecast period, with an estimated CAGR of 19.65%. Medical, textiles, and agriculture are the other end-user industries, which are likely to have higher CAGR over the forecast period, due to the increasing applications.
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Reasons to Purchase this Report:
The Polylactic Acid (PLA) Market 2020-2023 Analysis objectives of the report are:
- To analyze Polylactic Acid (PLA) Market regarding growth trends, anticipation and also their participation in the entire sector.
- To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
- To know the Polylactic Acid (PLA) Market by distinguishing its many sub-segments.
- To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
- To profile the Leading players in the industry and analyze their growth plans.
- To venture the amount and value of sub-markets, depending on key regions.
- Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
- To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Polylactic Acid (PLA) Market of many Polylactic Acid (PLA) Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Polylactic Acid (PLA) Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Polylactic Acid (PLA) Market competitors.
Mr. Ajay More
Phone: +14242530807 / + 44 20 3239 8187
Email: [email protected]
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