Published on: May 2022
Examining the market share of Polylactic Acid (PLA)
From 2021 to 2028, the global polylactic acid market is predicted to increase at a compound annual growth rate (CAGR) of 18.1 percent. The end-use sectors, such as agriculture, transportation, textiles, and packaging, are primarily responsible for the product's demand. Furthermore, the lower carbon emissions produced by polylactic acid (PLA) compared to conventional polymers are driving up demand globally. Furthermore, increased flexible packaging product demand is propelling the market forward. The packaging sector is booming thanks to the growing demand for packaged foods, snacks, Ready-to-Eat (RTE) meals, and other items. As a result, demand for PLA is expected to increase over the forecast period due to the fast-developing packaging industry.
Versatility versus Usability
Microwaveable containers, such as food containers and disposable silverware are mostly made of polylactic acid. The advantages of packaging containers, such as aesthetic appeal, greater printability, and grease and oil resistance, are driving up demand for PLA in the formulation of food packaging solutions around the world. The product is utilized in the production of vehicle components such as interior pieces and under-the-hood components. Because of its high bio content, this product is notable for decreasing carbon footprint. It has a variety of benefits, including improved impact and UV resistance, high gloss, and dimensional stability. These characteristics make it an excellent replacement for most traditional plastics used in vehicle engine compartments and interiors, such as Polyethylene Terephthalate (PET), Polycarbonate (PC), Polybutylene Terephthalate (PBT), Acrylonitrile Butadiene Styrene (ABS), and polyamide.
Widespread wings across the world of Polylactic Acid (PLA)
Due to the widespread usage of PLA in the manufacturing of jars, bottles, and containers, also in fresh food packaging solutions, the packaging end-use category accounted for the greatest revenue share of over a staggering 36% in 2020. Consumer demand for sustainable packaging and growing environmental concerns around the world are driving producers to utilise the material in a variety of packaging solutions. PLA is widely used in the packaging industry, particularly in the food packaging industry. PLA plastic bottles are long-lasting, disposable, and have qualities like transparency and gloss. Furthermore, in many countries, such as the United Kingdom, Zimbabwe, New Zealand, Taiwan, and several states in the United States (such as Hawaii, New York, and California), a tight restriction on single-use plastics is considerably increasing product demand in the packaging end-use segment.
To get a more hands on experience of the market status of Polylactic Acid (PLA), grab the expert report form Industry Data Analytics. https://www.industrydataanalytics.com/reports/polylactic-acid-market