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Polylactic Acid Market Global Industry Analysis, Size, Share, Growth Trends, Forecast To 2023
Polylactic Acid Market - Overview
Global polylactic acid or PLA demand is expected to remain moderate over the next couple of years. Market Research Future (MRFR) projects that the global polylactic acid market will witness a steady growth during the review period (2017-2023). The majority of the polylactic acid produced is derived from renewable feedstock such as corn, wheat, sugarcane, tapioca roots and starch. Production procedures may vary; however, polymerization and condensation remain the two core techniques.
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The Global Polylactic Acid Market include continuous growth of the automotive industry, rapid urbanization, and increasing demand for biodegradable plastic. Furthermore, polylactic acid Market is being applied in packaging industry which propels the growth of the market over the forecast period. The introduction of bio-based plastics and their increased usage in the electrical & electronics industry, increasing production of passenger cars and rising disposable income of consumer in developing economies drives the growth of the polylactic acid market.
Some of the prominent players operating in the Global Polylactic Acid Market are BASF SE (Germany), The DOW Chemical Company (U.S.), Corbion (the Netherlands), TEIJIN LIMITED. (Japan), NatureWorks LLC (U.S.), Synbra Technology bv (the Netherlands), Galactic (Belgium), Sulzer Ltd (Switzerland), Hitachi, Ltd. (Japan), Musashino Chemical Laboratory, Ltd. (Japan), and others.
The global polylactic acid market is segmented based on type and application.
Based on type, the market is segmented into PLLA (poly-L-lactic acid), PDLA (poly-D-lactic acid), and PDLLA (poly-DL-lactic acid).
Based on application, the market is segmented into automotive, textile, packaging, consumer goods, electrical & electronics, and others. Because of better wicking, drape and excellent crease resistance polylactic can be used in various applications like wipes, and geotextiles, etc. It has a good UV resistance and superior resilience which brings its application in furnishing like carpet tiles, industrial wall panels, automotive furnishing.
The Dow Chemical Co. is expanding into eastern Canada with its first new sales center with the new Toronto office allowing the company to get closer to its customers and collaborate better as it gears up for growth after its planned spin-off from Midland-based DowDuPont Inc. early next year (2019).
The global polylactic acid market consists of five regions which are Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Among these regions, the Asia Pacific region is estimated to surge at the highest CAGR over the estimated period 2019-2023 attributed to stable economy and continuous growth of the automotive as well as packaging industry.
The market is expected to remain somewhat profitable in regions such as North America and Europe. Unlike APAC, market opportunities will remain slim in the West. The rapid shift of manufacturing to developing countries owing higher cost-benefits may have its ramifications on the market scope in advanced countries.
In North America, most of the contribution in terms of revenue comes from the U.S. and this trend is expected to continue throughout the forecast period. Meanwhile, Mexico is likely to gain a healthy ground owing to the fast expansion of the manufacturing sector in the country.
List Of Tables:
Table 1 World Population By Major Regions (2016 To 2023)
Table 2 Global Polylactic Acid Market: By Region, 2016-2023
Table 3 North America Polylactic Acid Market: By Country, 2016-2023
Table 4 Europe Polylactic Acid Market: By Country, 2016-2023
Table 5 Asia-Pacific Polylactic Acid Market: By Country, 2016-2023
To Be Continue………
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List Of Figures:
FIGURE 1 Global Polylactic Acid Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Polylactic Acid Market
FIGURE 4 Value Chain Of Global Polylactic Acid Market
To Be Continue………
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