The report “Global Polylactic Acid (PLA) Market, By Raw Material (Corn, Cassava, Sugarcane & Sugar Beet, and Others), By Form (Fiber, Film & Sheets, Coatings, and Others), By End-User Industry (Packaging, Automotive, Medical, Electronics, Agriculture, Textiles, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030.
- In June 2019, Eastman Chemical company began manufacturing environment-friendly labels from polylactic acids
The favourable government policy to encourage of using the bio-plastics packaging which is made up of polylactic acid PLA is the major propelling factor for the growth of the global market. For instance, in 2016, France had passed a ‘Plastic Ban’ law to fight the growing problem of plastic pollution in the world, which states that all plastic plates, cups, and utensils will be banned by 2020. Additionally, the growing demand for the cellulose-derived fibres in textile industry is another factor for the growth of the target market. Moreover, polylactic acid polyester fibres can be recycled which is the boosting factor for the growth of the target market. However, the high price and availability of the cheaper alternative is the major restraining factor for the growth of the target market. Nevertheless, the growing production of genetically modified corn can create an opportunity for the growth of the global market.
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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Polylactic Acid (PLA) Market”, By Raw Material (Corn, Cassava, Sugarcane & Sugar Beet, and Others), By Form (Fiber, Film & Sheets, Coatings, and Others), By End-User Industry (Packaging, Automotive, Medical, Electronics, Agriculture, Textiles, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030
Key Market Insights from the report:
The global polylactic acid (PLA) market is projected to register a moderate CAGR over the forecast period. The market report has been segmented on the basis of product, raw material, form, end-user industry, and region.
- By raw material, the global polylactic acid (PLA) market is segmented into the corn, cassava, sugarcane & sugar beet, and others
- By form, the global market is classified into fibre, film & sheets, coatings, and others.
- By end-user industry, the global market is bifurcated into packaging, automotive, medical, electronics, agriculture, textiles, and others
- By region, the Asia Pacific region is the dominating market for the global polylactic acid market because the Asia Pacific region is the most populated countries with skilled people.
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The prominent player operating in the global polylactic acid (PLA) market includes BASF SE, Bayer, Corbian, Danimer Scientific, Dow-DuPont, Eastman Chemicals, Futerro, Henen Jindan Lactic Acid Technology, Mitsubishi Chemical, and Nature works.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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