The global polylactic acid (PLA) Market is projected to be worth USD 5,944.9 Million by 2027, according to a new report by Emergen Research. The market for polylactic acid (PLA), a bioplastic, is experiencing rapid growth attributed to its widespread application in packaging, textile, transport, agriculture, medical, and electronics, among others. Besides, supportive government initiatives and offering subsidies to promote the growth of bioplastics are driving the growth of the market. In 2018, the Japanese Ministry of Environment made an announcement for the inclusion of USD 45.0 million/JPY 5.0 Billion in the FY2019 budget for developing products manufactured from bio-plastics and provide subsidies to firms that make paper substitutes to plastic.
The report holistically analyzes the Polylactic Acid market, taking a closer look at the prominent factors influencing the industrial growth, technological developments, as well as the current and emerging trends of the key regional segments of the market. The product type outlook, application range, end-use landscape, and the efficient solutions and services offered by the leading manufacturers are some of the major components of the market emphasized in the report. Additionally, the research document contains indispensable information about the growing competition among the key market players, their revenues shares and gross profit margins, industry facts, important figures, business strategies, key regions, rising demand, and conspicuous market developments.
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Key Highlights From The Report
- In February 2018, Teijin Ltd. made an announcement about the development of a formable film, which is resistant to gasoline and produced from PLA NEXT® bio-plastic to substitute chrome plating, adopted by Honda Lock Mfg. Co., Ltd. for use in the nonconductive door handles having smart-entry systems.
- Production of polylactic acid (PLA) consumes about 35.0% of energy than required for conventional plastics and causes 68.0% fewer GHG emissions. Besides, on incineration, it does not produce toxic volatile organic compounds (VOCs).
- Poly-L-lactic acid possesses a much slower absorption rate compared to PGA in orthopedic implants. The L (Levo) form of this bioplastic is highly crystalline, takes as much as 5 to 7 years for absorption.
The report offers a comprehensive analysis of the competitive landscape of the market through extensive profiling of the key competitors. The section on the competitive analysis covers product portfolio, company overview, production and manufacturing capacity, financial standing, revenue and gross profit margins, and market position. It also sheds light on the mergers and acquisitions, joint ventures, collaborations, and partnerships occurring in the market.
Key Players Profiled in the Report are:
Teijin Ltd., Thyssenkrupp AG, Synbra Technology BV, Hitachi Ltd., BASF SE, Futerro, Sulzer Ltd., NatureWorks LLC, Zheijiang Hisun Biomaterials Co., Ltd., and Total Corbion PLA, among others.
Polylactic Acid Market Segmentation:
Emergen Research has segmented the global polylactic acid (PLA) on the basis of product type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Racemic PLLA (Poly-L-lactic Acid)
- Regular PLLA (Poly-L-lactic Acid)
- PDLA (Poly-D-lactic Acid)
- PDLLA (Poly-DL-lactic Acid)
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
Regional analysis provided in the report covers the key regions of North America, Europe, Latin America, AsiaPacific, and Middle East & Africa. Additionally, the report offers a country-wise analysis of the Polylactic Acid industry with respect to the import/export analysis, production and consumption pattern, supply and demand ratio, revenue share, market share and size, and other key aspects.
- North America(U.S.A., Canada)
- Europe(U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific(India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America(Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Fundamental Market Parameters Elucidated in the Report:
Market dynamics: The Polylactic Acid market report explains the scope of various commercial possibilities over the next few years and further estimates revenue build-up over the forecast years. It analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers in developing vital strategies for profitable business expansion.
Competitive Outlook: The established market players operating in the Polylactic Acid industry have been listed in this report, with a major focus on their geographical reach and production facilities. To gain a competitive advantage over the other players in the Polylactic Acid industry, the leading players are focusing more on offering products at rational prices.
Objectives of the Report: The chief aim of the research report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Polylactic Acid market.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Polylactic Acid (PLA) Market Segmentation & Impact Analysis
4.1. Polylactic Acid (PLA) Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Increasing demand for polylactic acid in the packaging sector
126.96.36.199. Surging demand for bio-polylactic acid in additive manufacturing
188.8.131.52. Growing preference for bio-plastics
184.108.40.206. Supportive government initiatives
220.127.116.11. Increased investment in R&D
4.2.3. Market restraints analysis
18.104.22.168. Availability of substitutes
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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