Materials & Chemicals / Polylactic Acid Market- Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Total Corbion PLA, Nature Works LLC, SUPLA, Futerro, COFCO, Jiangxi Keyuan Bio-Material Co
Polylactic Acid Market- Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Total Corbion PLA, Nature Works LLC, SUPLA, Futerro, COFCO, Jiangxi Keyuan Bio-Material Co
Acknowledging the kind of traction gained by this market,Industry Data Analytics recently published a study report asserts the global Polylactic Acid Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 17.8% during the review period (2022 to 2027)
Polylactic Acid Market Overview
The substance polylactic acid (PLA) differs from the frequently accessible thermoplastic polymer polymers. It's made mostly of renewable resources like maize starch or sugar cane. PLA is a popular material since it is reasonably inexpensive and has various advantageous mechanical qualities when compared to other biodegradable polymers. PLA had a production capacity of around 290 thousand tonnes as of 2019. PLA is a popular material since it is reasonably inexpensive and has various advantageous mechanical qualities when compared to other biodegradable polymers. PLA had a production capacity of around 290 thousand tonnes as of 2019. PLA is made mostly from plant feedstocks such cassava, potato, corn, and sugar cane.
Who are the Major Players in Polylactic Acid Market?
The global Polylactic Acid includes identification and analysis of the various market participants competing in the global market. Prominent competitors include Teijin Ltd., A&C Plastics, Formosa Fiber & Chemical Corporation, Idemitsu Kosan Ltd., SABIC IP, Bayer Material Science AG, DS ENPLA CO., LTD., Mitsubishi Engineering Plastic And Others.
Industry News and Updates:
Total Corbion PLA announced the exhibition of number of partner application based on Luminy, its Polylactic resins (PLA) portfolio which includes both standard and high heat grade PLA grades.
31 March 2022-TotalEnergies Corbion is a global technology leader in Poly Lactic Acid (PLA). PLA is a versatile, biobased and biodegradable polymer made from annually renewable resources. PLA offers a reduced carbon footprint versus many traditional plastics and can be used in a wide range of markets and applications. TotalEnergies Corbion is a young and fast-growing company founded in 2017. We already operate a 75.000Ton/year PLA plant in Rayong, Thailand and is planning to build an additional plant in Grandpuits, France.
What are the major Applications, Types and Regions for Polylactic Acid Market?
Market is segmented based on the type, applications, companies and regions.
By Application, it is segmented into
Packaging
Textiles
Consumer Goods
Agriculture & Horticulture
Others
Polylactic Acid Market Regional Analysis
In 2020, Europe's GDP was USD 285,573.1 million. During the forecast period, the region is expected to dominate the market. This is due to government legislation prohibiting the use of plastic, increased R&D to encourage the usage and development of bioplastics, and increased consumer expenditure. In addition, the market is projected to be driven by the rising agricultural industry. The industry is growing due to rising demand for natural ingredients and organic food in the region.
In Europe, the increased demand for exotic fruits and vegetables has been a major driver of the business. Due to rapid economic growth and the rich lifestyle of consumers who seek great quality food products, Germany is the biggest polylactic acid consuming country in the region. This is projected to increase the demand for high-quality packaging.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
What is our Polylactic Acid Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 17.8% over the forecast period (2022-2027)
Yes, the report can be customized as per your needs
Key Takeaways from this Polylactic Acid Report
Evaluate Polylactic Acid market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Polylactic Acid market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
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Who are the key players in Polylactic Acid Market?
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SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
