Polylactic Acid Market Size, Historical Analysis, Global Trends, Future Scope and Potential of Industry from 2017-2023

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Pune, India — 12/15/2017 — Synopsis of Polylactic Acid Market:

Polylactic acid is a type of thermoplastic polyester obtained from wide variety of renewable feedstock such as wheat, corn, sugarcane, starch, and tapioca roots. PLA is made through two different processes namely condensation and polymerization. It is biodegradable as well as biocompatible in nature. PLA is a thermoplastic material and find its utilization in numerous application such as automotive, packaging, textile, electrical & electronics, consumer goods, and others.

As per our Analysis, some of the important market factors and trends identified in the Global Polylactic Acid Market include rapid urbanization, increasing demand for biodegradable plastic, and continuous growth of the automotive industry. Moreover, rising application of PLA in packaging sector is predicted to propel the growth of the market over the assessment period. The introduction of bio-based plastics and their increased usage in the electrical & electronics industry is predicted to extend growth opportunities for the Global PLA Market in the upcoming years. Additionally, increasing production of passenger cars as well as rising disposable income of consumer in developing economies is expected to drive the growth of the Polylactic Acid over the forecast period 2017-2023. Furthermore, increasing environmental concerns regarding the dumping of plastics in landfills is promoting the use of Polylactic Acid based products. Stringent regulations implemented by various government bodies regarding the use of non-biodegradable plastic is estimated to propel the growth of the market.

Moreover, depleting oil reserves coupled with increasing awareness regarding the benefits offer by the PLA is expected to drive the market growth. However, high cost associated with the production of PLA as compared to conventional plastics is anticipated to hamper the growth of the market during the review period.

Competitive Analysis:

The major players operating in the 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.

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Regional Analysis:

The Global Polylactic Acid Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Among these, the Asia Pacific region is anticipated to grow at the highest CAGR over the estimated period 2017-2023 due to stable economy and continuous growth of the automotive as well as packaging industry. The demand for Polylactic Acid is predicted to propel the market growth in the numerous countries of Asia Pacific such as Malaysia, China, India, Vietnam, Thailand, Singapore, South Korea, and Japan owing to high adoption rate by the automobile manufacturers. Moreover, increasing demand for packaged foods including frozen meals and ready-to-eat meals is predicted to raise flexible packaging requirements, which, in turn, is expected to fuel the demand for PLA. Additionally, rising automotive production and sales as well as growing demand for household appliances in developing economies along with increasing disposable income of consumer is estimated to propel the growth of the market. Furthermore, economic development in Asia Pacific, particularly China, India, and Vietnam, has presented opportunities for PLA in the transportation sector.

Europe emerged as the largest PLA market followed by North America and Asia Pacific. North America is estimated to witness a moderate growth in PLA market on account of recovery of industrial sector coupled with rising investments to revitalize electronics & consumer goods industry over the assessment period. North American countries such as the U.S and Canada are among the major contributors in the regional Polylactic Acid Market growth and are estimated to see a significant regional market growth over the forecast period due to strong consumer base for packaging as well as consumer goods sector. Mexico is predicted to witness a remarkable growth due to rising automotive production and sales. Latin American countries such as Colombia, Brazil, and Venezuela are also estimated to witness a moderate growth due to increasing consumer spending on electronic products and growing automotive sector. European countries such as Poland, Russia, France, Spain, the UK, and Germany have emerged as the prominent consumer market player owing to implementation of strict regulations by government body such as REACH and continuous growth in transportation sector. Additionally, the Middle East and Africa is estimated to witness a substantial growth over the assessment period due to significant growth in the textile industry.

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Key Points from Table of Contents:

11. Company Profiles

11.1 BASF SE
11.1.1 Company Overview
11.1.2 Product/Business Segment Overview
11.1.3 Financial Updates
11.1.4 Key Developments

11.2 The DOW Chemical Company
11.2.1 Company Overview
11.2.2 Product/Business Segment Overview
11.2.3 Financial Updates
11.2.4 Key Developments

11.3 Corbion
11.3.1 Company Overview
11.3.2 Product/Business Segment Overview
11.3.3 Financial Updates
11.3.4 Key Developments

11.4 TEIJIN LIMITED.
11.4.1 Company Overview
11.4.2 Product/Business Segment Overview
11.4.3 Financial Updates
11.4.4 Key Developments

11.5 NatureWorks LLC
11.5.1 Company Overview
11.5.2 Product/Business Segment Overview
11.5.3 Financial Updates
11.5.4 Key Developments

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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