Polylactic Acid Market Growth Factors, Trends and Forecast Report to 2025:Grand View Research, Inc.
San Francisco, 24 January, Polylactic
Acid (PLA) Market Size, Share & Trends Analysis Report By Application
(Packaging, Agriculture, Transport, Electronics, Textiles), By Region,
Competitive Landscape, And Segment Forecasts, 2018 – 2025.
The global polylactic acid (PLA) market size is expected to reach USD 4.25 billion by
2025, according to a new report by Grand View Research, Inc., registering a
20.6% CAGR during the forecast period. Wide utilization of the product in
various industries including packaging, agriculture, transport, electronics,
and textiles in emerging economies such as China, India, and Indonesia are is a
key factor driving industry growth.
Polylactic acid is used to
produce engineering plastics and microwaveable containers, including food
containers and disposable cutlery. Several beneficial properties, such as
better aesthetic appeal, good resistance to oil and grease, and better
printability, have resulted in significant use of PLA for manufacturing food
packaging products.
The transport sector is likely
to witness a steady decline in prices of automotive parts on account of
increasing use of PLA in car interiors such as dashboards, seats, and bumpers,
as it has the ability to reduce weight and increase toughness. The overall
rising production of bioplastics and their increasing penetration in various
applications in order to reduce greenhouse gases and decrease the dependence on
petroleum sources is projected to have a positive impact on the polylactic acid
market.
PLA packaging provides an
environment-friendly solution and helps in enhancing the appearance of the
final product. It has become an essential part of green packaging of various
food products, which will help in improving its growth prospects over the
forecast period. Growing usage of bioplastics in flexible packaging is expected
to fuel industry expansion.
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Report On Polylactic Acid (PLA) Market Analysis:
Further key findings from the report suggest:
·
The packaging application
dominated the overall polylactic acid (PLA) market with a volume-based industry
share of 35.71% in 2017; by revenue, the segment is anticipated to account for
a share of over 35.0% the same year
·
PLA has a high bio-based
content and is biodegradable or compostable in nature. Emerging bioplastic
applications, coupled with favorable regulations toward the use of bio-based
materials, are expected to give an impetus to the global PLA market over the
forecast period
·
The North America PLA market is
expected to be driven by growing demand for bioplastics and addition of new
manufacturing facilities. Additionally, the regional market is characterized by
high demand for sustainability, which has resulted in a quest for
sustainability in packaging as well
·
The overall bioplastics demand
in North America is also expected to be spurred by initiatives for promoting
environment-friendly products by the U.S. Department of Agriculture
·
The global industry is
characterized by accreditation of the product, mergers and acquisitions,
distribution and branding, and product development and innovation to improve
the market share of manufacturers
·
Some of the key companies
present in the industry are BASF SE, Danimer Scientific, Futerro, NatureWorks
LLC, Synbra Technology BV, Hitachi Ltd., Sulzer Ltd., Zhejiang Hisun
Biomaterials Co., Ltd., Thyssenkrupp AG, and Teijin Ltd.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand View Research has segmented the
global polylactic acid (PLA) market on the basis of product and region:
Polylactic Acid Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Packaging
·
Agriculture
·
Transport
·
Electronics
·
Textiles
·
Others
Polylactic Acid Regional
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
o
Italy
o
Netherlands
·
Asia Pacific
o
China
o
India
o
Japan
o
Indonesia
o
Malaysia
o
Philippines
·
Central & South America
o
Brazil
·
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
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