(MENAFN- PR Newswire)
DUBLIN, June 23, 2022 /PRNewswire/ -- The 'Polylactic Acid (PLA) Market by Grade (Thermoforming, Extrusion, Injection Molding, Blow Molding), Application (Rigid Thermoform, Film & Sheet, Bottles), End-use Industry (Packaging, Consumer Goods, Agricultural, Textile, Biomedical) and Region - Global Forecast to 2026' report has been added to ResearchAndMarkets.com's offering.
The global PLA market size is projected to grow from USD 1.0 billion in 2021 to USD 1.9 billion by 2026, at a CAGR of 12.2% between 2021 and 2026.
The market is driven by various factor such as increasing demand of PLA in packaging industry, government regulations in Europe, increased focus of government on green procurement policies, and shift in consumer preference toward eco-friendly and biodegradable plastic products.
Moreover, high potential in emerging countries of APAC such as India, and China, and multi-functionalities of PLA is expected to drive the market during the forecast period. However, the market is in the nascent stage in developing countries due to the challenges, such as processing after the end of life, fluctuation in oil prices, performance limitations of PLA, and limited regulations of PLA in developing countries. Changing consumer preference toward eco-friendly plastic products is driving the demand for PLA during the forecast period The PLA market in European countries such as Germany, and UK is expected to witness high growth, owing to Improving consumer awareness regarding sustainable plastic solutions. Moreover, increasing landfills and waste piles have emerged as serious environmental, and health hazards resulted in numerous adverse effects on the ecosystem.
Rising consumer awareness due to adverse effects of traditional plastics is encouraging the use of PLA. Additionally, rising investment in new packaging technology, and strict government norms regarding plastic usage and ban on single-use plastics is expected to increase the growth rate in Europe, during the forecast period. Government focus on green procurement policies and regulations to boost the demand for PLA during the forecast period Rising prohibition against conventional plastics, and government regulations towards development of sustainable ecosystem is driving the PLA market worldwide. Developed countries such as Europe, and North America are becoming more stringent, and encouraging the use of sustainable and eco-friendly products.
Various government are implementing new policies and programs such as green dot system in Europe, and initiatives such as 'Bio Preferred' in North America to promote PLA. Moreover, to curb the use of conventional plastics, various governments are providing tax benefits, and incentives to promotes eco-friendly materials to reduce the consumption of plastics. Europe to dominate the PLA market in 2020 Europe is the largest market for PLA, owing to the strict government norms regarding plastic usage and ban on single-use plastics. Additionally, European countries are investing heavily in new packaging technology to suit customer demands and needs. Countries such as Germany, and UK have established food & beverage industry (particularly packed food), and environmentally inclined rules & regulations is expected to boost the demand for the PLA market during the forecast period. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Developed Economies to Witness Relatively Higher Growth4.2 Pla Market, by Grade4.3 Pla Market, by Application4.4 Pla Market, by End-Use Industry4.5 Pla Market, by Country
5 Market Overview 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers220.127.116.11 Changing Consumer Preference Toward Eco-Friendly Plastic Products18.104.22.168 Increasing Use in Packaging and Compostable Bag Applications22.214.171.124 Government Focus on Green Procurement Policies and Regulations126.96.36.199 Technological Advancements to Encourage Production of Pla5.2.2 Restraints188.8.131.52 Higher Prices of Pla Than Conventional Plastics5.2.3 Opportunities184.108.40.206 Development of New Applications220.127.116.11 High Potential in Emerging Countries of Asia-Pacific18.104.22.168 Multi-Functionalities of Pla5.2.4 Challenges22.214.171.124 Performance Issue126.96.36.199 Fluctuating Oil Prices Create Volatility in Demand for Pla188.8.131.52 Expensive and Complex Production Process5.3 Porter's Five Forces Analysis5.3.1 Bargaining Power of Suppliers5.3.2 Bargaining Power of Buyers5.3.3 Threat of Substitutes5.3.4 Threat of New Entrants5.3.5 Intensity of Competitive Rivalry5.4 Value Chain Analysis5.4.1 Raw Material Suppliers5.4.2 Manufacturers5.4.3 Distributors5.4.4 End-Consumers5.5 Patent Analysis5.6 Raw Material Analysis5.7 Tariff & Regulations5.8 Trade Analysis5.9 Ecosystem Mapping5.10 Technology Analysis5.10.1 Development of Nanocellulose and Nanocomposites5.11 Trends/Disruptions Impacting Customer's Business5.12 Macroeconomic Analysis5.13 Average Selling Price Analysis5.14 COVID-19 Impact Analysis
6 Polylactic Acid Market, by Grade 6.1 Introduction6.2 Thermoforming Grade6.3 Injection Molding Grade6.4 Extrusion Grade6.5 Blow Molding Grade6.6 Others
7 Polylactic Acid Market, by Application 7.1 Introduction7.2 Rigid Thermoforms7.3 Films & Sheets7.4 Bottles7.5 Others
8 Polylactic Acid Market, by End-Use Industry 8.1 Introduction8.2 Packaging8.2.1 Food Packaging8.2.2 Non-Food Packaging8.3 Consumer Goods8.3.1 Electrical Appliances8.3.2 Domestic Appliances8.4 Agricultural8.4.1 Planter Boxes8.4.2 Tapes & Mulch Films8.4.3 Netting8.5 Textile8.5.1 Diapers and Wipes8.5.2 Female Hygiene8.5.3 Personal Care, Clothes, Disposable Garments, Medical & Healthcare, and Other Textiles8.6 Biomedical8.6.1 Medical Plates & Screws8.6.2 Implants8.7 Others
9 Polylactic Acid Market, by Region
10 Competitive Landscape 10.1 Introduction10.2 Strategies Adopted by Key Players10.3 Market Share Analysis10.3.1 Ranking of Key Market Players10.3.2 Market Share of Key Players, 202010.4 Revenue Analysis of Top Players10.5 Market Evaluation Matrix10.6 Company Evaluation Matrix10.6.1 Star10.6.2 Emerging Leaders10.6.3 Pervasive10.7 Company Footprint10.7.1 Strength of Product Portfolio10.7.2 Business Strategy Excellence10.8 Startups and Small and Medium-Sized Enterprises (Smes) Evaluation Matrix10.8.1 Progressive Company10.8.2 Responsive Companies10.8.3 Starting Blocks10.9 Competitive Scenario10.9.1 New Product Launches10.9.2 Deals10.9.3 Other Developments
11 Company Profiles 11.1 Key Players11.1.1 Natureworks LLC11.1.2 Total Corbion Pla11.1.3 Basf Se11.1.4 Cofco11.1.5 Futerro11.1.6 Danimer Scientific11.1.7 Toray Industries, Inc.11.1.8 Evonik Industries11.1.9 Mitsubishi Chemical Corporation11.1.10 Unitika Ltd.11.2 Other Players11.2.1 Zhejiang Hisun Biomaterials Co., Ltd.11.2.2 Shanghai Tong-Jie-Liang Biomaterialsco., Ltd.11.2.3 Chongqing Bofei Biochemical Products, Ltd.11.2.4 Zhangjiagang Create Material Co., Ltd.11.2.5 Synbra Technology11.2.6 Sumitomo Chemical Co., Ltd.11.2.7 Fkur11.2.8 Musashino Chemical Laboratory, Ltd.11.2.9 Akro-Plastic GmbH11.2.10 Vaishnavi Bio Tech11.2.11 Carbiolice11.2.12 Shenzhen Esun Industrial Co., Ltd.11.2.13 Jiangsu Supla Bioplastics Co., Ltd.11.2.14 Nantong Jiuding Biological Engineering Co., Ltd.11.2.15 Floreon
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