Pune, India -- (SBWIRE) -- 02/05/2019 -- Polylactic acid is prepared by ring opening polymerization of lactide, with various metal catalysts in solution, melt, or suspension. It can also be prepared by direct condensation of lactic acid monomers. Polylactic acid demand is expected to increase, due to the scarcity and volatility of prices of fossil fuels. Also, due to environmental concerns, companies and regulatory bodies are focused on finding substitutes for oil-based products. Bio-based plastics have a huge potential to reduce consumption and dependence on petroleum-based feedstock, and lessen negative impact on environment, by reducing carbon footprints. However, the market faces few challenges, such as price competitiveness and availability of cheaper alternatives, and difficulty in disposal of PLA.

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Global Polylactic Acid (PLA) Market is predicted to expand over the period between 2018 and 2023. Polylactic Acid (PLA) Market report focuses on the major drivers and restraints for the key players. Polylactic Acid (PLA) market research report provides the most recent business knowledge and business future trends, permitting you to identify the product and end users driving revenue growth and profitability.

Global Polylactic Acid (PLA) market is estimated to reach at CAGR of 20.06% between 2018 and 2023. Polylactic Acid (PLA) Market report include information like market share, price, growth rate, consumption, capacity, production, import, export, Industry chain, manufacturing process, cost structure, marketing channel are also analyzed in this report.

Major Key Players are analysed in the Polylactic Acid (PLA) Market Report such as:

BASF SE
NATUREWORKS
MITSUBISHI CHEMICAL
DOWDUPONT
EASTMAN CHEMICALS
BAYER
CORBION
DANIMER SCIENTIFIC amongst others.
Key Developments in the Market

January 2018: Bengbu-based BBCA Group signed an agreement with Glactic Company, located in Belgium, on a PLA (polylactic acid) cooperation project, featuring a designed annual production capacity of 100,000 metric ton.

January 2018: Engineers from the University of Connecticut developed an implantable sensor, made from poly (L-lactide) (PLLA), a medically-safe biodegradable polymer that can measure even very small changes in pressure inside organs.

June 2017: NatureWorks signed a contract to license Plaxica's Optipure chemical processing technology for the production of D-lactic acid, which serves as a building block for Ingeo PLA grades.

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Polylactic Acid (PLA) Market Segment by Regions, this Polylactic Acid (PLA) Market report splits Global into several key Regions, with sales (consumption), revenue, market share and growth rate of Polylactic Acid (PLA) Market from 2018 to 2023 (forecast), like:

North America (United States, Mexico, Canada, Others)

Europe (United Kingdome, France, Germany, France, Italy, Spain, Others)

Asia-Pacific (India, China, Japan, Australia, Others)

South America (Brazil, Argentina, Mexico, Africa, South Africa, Egypt, Others)

In the next part of the Polylactic Acid (PLA) market report tells about the manufacturing process. The process is studied carefully with respect three points, viz. raw material and equipment suppliers, various manufacturing associated costs (material cost, labour, cost, etc.) and the actual process.

Market Segmentation

In terms of volume, the market is expected to be 286.37 kilo metric ton in 2017, and is anticipated to reach 830.1 kilo metric ton by 2023, at an estimated CAGR of 19.48%. The market has been segmented on the basis of raw material, form, and end-user industry. By raw material, corn starch is expected to dominate the global market. By form, films and sheets are expected to dominate the market. By region, North America has dominated the market in the past years, and it is expected to have the largest market share over the forecast period, with an estimated CAGR of 19.48%. Asia-Pacific is estimated to have the highest CAGR 21.89% over the forecast period. By end-user industry, packaging industry has the highest market share, and is expected to dominate the market by volume over the forecast period, with an estimated CAGR of 19.65%. Medical, textiles, and agriculture are the other end-user industries, which are likely to have higher CAGR over the forecast period, due to the increasing applications.

Reasons to Purchase this Report:

Current and future of Polylactic Acid (PLA) Market outlook in the developed and emerging markets
Analysis of the global Polylactic Acid (PLA) Market, with region-specific assessments and competition analysis on global and regional scales.
Analysis of various perspectives of the market with the help of Porter's five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players

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