Polylactic Acid Market : USD 5,944.9 Million By 2027 | Growing Preference For Bio-Plastics

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Market Size – USD 1,504.0 Million in 2019, Market Growth - CAGR of 18.5%

VANCOUER, BC, CANADA, June 29, 2022 /EINPresswire.com / -- 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.

In the primary section of the report, there are essential details about the estimated market size, market dynamics, recent developments, and the ongoing trends in the polylactic acid industry. The report goes on to study the potential investment opportunities, as well as various parameters influencing market growth, such as key drivers, challenges, and constraints. The competitive landscape includes details on the strategic initiatives, such as mergers & acquisitions, joint ventures, technological upgradation, and corporate deals, implemented by market players to optimize their industry performance. Our team has leveraged analytical tools like Porter's Five Forces Analysis and SWOT Analysis to discern vital information about the leading market regions' competitive scenario. Additionally, the report explains the latest global economic landscape scenario with respect to the currently unfolding COVID-19 pandemic. The pandemic has significantly affected millions of lives and markets worldwide. Besides, it has led to massive disruptions in this particular business sphere. The report encompasses the effects of the pandemic on the polylactic acid market.

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Global polylactic acid Market Report - Table of Contents:

Chapter 1. Market Definition and Scope

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics

Chapter 5. Regional Analysis

Chapter 6. Product Segmentation

Chapter 7. Application Spectrum

Chapter 8. End-user Landscape

Chapter 9. Competitive Landscape

Chapter 10. Appendix

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Regional Analysis:

The global polylactic acid market report broadly considers the market mechanism of both the developing and developed regions of the market. This section provides crucial data and information about the different market regions, a country-wise analysis of the polylactic acid industry, and an assessment of the market reach and consumer base in the key geographical regions to enable readers to formulate effective business expansion strategies.

Major Geographies Encompassed in the Report:

North America (U.S., 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)
Some 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.
Fabrics produced from polylactic acid (PLA) fibers possess a better fire-resistant property and are appropriate to cater to the fire safety standards required for textiles deployed in public occupancy buildings' interior furnishings. Typical textile products comprise cubicle curtains, drapery, wall coverings, and outdoor coverings like tents and tarpaulins.
The polylactic acid (PLA) market in the Asia Pacific region, led by China, is estimated to grow at the fastest rate of 19.7% in the forecast period, due to the spiraling consumption of bio-polylactic acid in the packaging and medical applications, which are being boosted by the demand in emerging economies in the region.
NatureWorks LLC, a leading market player, manufactures Ingeo, its polylactic acid (PLA) bioplastic, from dextrose sugar extracted from the starch present in corn, cultivated for many functional and industrial applications.
Competitive Landscape:

The research report offers key insights into the leading market players' strengths and weaknesses, assessed using Porter's Five Forces and SWOT analyses. The report includes polylactic acid market segmentation based on product type, application spectrum, and key regions. The investigative study estimates the market size, market share, and revenue generation over the forecast timeframe. The key players profiled in the report include:

Key participants include 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.

Objectives of the Global polylactic acid Market Study:

An in-depth study of the evolving market sectors and the growth & penetration status of the global polylactic acid market
COVID-19 Impact Analysis to highlight the major opportunities and challenges
Strategic recommendations to help readers formulate lucrative business strategies
Identification of the emerging players and their tactical approaches to expand market presence
An extensive study of the product portfolios of the major market players and their regional presence
A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures
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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)

Online
Offline
Application Outlook (Revenue, USD Billion; 2017-2027)

Packaging
Textile
Transport
Agriculture
Electronics
Medical
Others

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