Vancouver, BC -- (SBWire) -- 03/19/2021 --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 increasing demand for polylactic acid (PLA) in the packaging sector is one of the significant factors influencing the market growth. It finds usage in numerous purposes comprising deli/ delicatessen and takeout containers, straws, cold drink cups, and cutlery, among others. Polylactic acid (PLA) is widely deployed for packaging applications attributed to its physical and mechanical characteristics. Commercially polylactic acid (PLA) packages possess features similar to Polyethylene terephthalate (PET) and offer improved mechanical features than polystyrene (PS). Recently, polylactic acid (PLA) finds application in food packaging for products, including fruit and vegetables, which have short shelf-life.
Based on the types, the Polylactic Acid market has been further classified based on geography, application and consumption capability. On the basis of the product application, the industry is bifurcated taking into consideration those in demand and are an outcome of technology advancement. Region-wise, the performance of the industry along with the prominent vendors operating in the geography also illuminates stakeholders, business owners, and field marketing, executives. The different facets of the business based on parameters including new launches, acquisition and mergers and new entrants are discussed extensively during the study.
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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.
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.
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.
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All of the segments studied in the research study are analyzed on the basis of BPS, market share, revenue, and other important factors. Our research study shows how different segments are contributing to the growth of the global Polylactic Acid market. It also provides information on key trends related to the segments included in the report. This helps market players to concentrate on high-growth areas of the global Polylactic Acid market. The research study also offers separate analysis on the segments on the basis of absolute dollar opportunity.
Regional scope: - North America; Europe; Asia Pacific; Central & South America; MEA
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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Important the study on the Polylactic Acid market takes a closer look at the top market performers and monitors the strategies that have enabled them to occupy a strong foothold in the market. Performance of the product and services across different segments and geography are thoroughly assessed during the research. Apart from this, the research brings to light real-time data about opportunities that will completely transform the trajectory of the business environment in the coming years.
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Table of Content
Chapter 1. Polylactic Acid Market Methodology & Sources
1.1. Polylactic Acid Market Definition
1.2. Polylactic Acid Market Research Scope
1.3. Polylactic Acid Market Methodology
1.4. Polylactic Acid Market Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Polylactic Acid Market Key Insights
Chapter 4. Polylactic Acid Market Segmentation & Impact Analysis
Chapter 5. Polylactic Acid Market By Products Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Polylactic Acid Market By Types Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Polylactic Acid Market By Applications Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 8. Polylactic Acid Market By End Use Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 9. Polylactic Acid Market Regional Outlook
Chapter 10. Competitive Landscape
Continued…
Polylactic Acid Market Applications, Technology, Types, Recent Trends, Future Growth Analysis, Industry Analysis and Forecasts 2027
The study methodologies used to examine the Polylactic Acid market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.