“Latest Market Overview for Polylactic Acid (PLA) Market Research Report
Global Polylactic Acid (PLA) Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Polylactic Acid (PLA) market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- BASF SE
- Danimer Scientific
- Eastman Chemicals
- Henen Jindan Lactic Acid Technology
- Mitsubishi Chemical
- Wei Mon Industry
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Description 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.
Polylactic Acid (PLA) Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Polylactic Acid (PLA) Market players in detail. Polylactic Acid (PLA) Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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The Global demand for Polylactic Acid (PLA) Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Polylactic Acid (PLA) Market Historic Data (2012-2018):
- Industry Trends: Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Further, in the Polylactic Acid (PLA) Market research reports, the following points are included along with an in-depth study of each point:
- Production Analysis– Production of the Polylactic Acid (PLA) is analyzed with respect to different regions, types, and applications. Here, price analysis of various Polylactic Acid (PLA) Market key companies is also covered.
- Competitors– In this section, various Polylactic Acid (PLA) industry-leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
- Sales and Revenue Analysis– Both, sales and revenue are studied for the different regions of the Polylactic Acid (PLA) Market. Another major aspect, price, which plays an important part in the revenue generation, is also measured in this section for the numerous regions.
- Supply and Consumption– In continuation with sales, this section studies supply and consumption for the Polylactic Acid (PLA) Market. This part also shelters light on the gap between supply and consumption. Import and export statistics are also given in this part.
- Other analyses– Apart from the above-mentioned information, trade and distribution analysis for the Polylactic Acid (PLA) Market, contact information of major manufacturers, suppliers and key consumers are also given. In addition, SWOT analysis for new projects and viability analysis for new investment are included.
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.
Conclusively, this report will provide you a clear view of each and every fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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