Polylactic Acid (PLA) Market Upcoming Scope and Challenges 2026 By BASF SE; Danimer Scientific; Futerro SA; NatureWorks LLC; Total Corbion PLA; Synbra Technology bv; Hitachi, Ltd
Global polylactic acid (PLA) market is expected to rise to an estimated value of USD 4283.25 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026
Polylactic acid is a type of renewable plastic sourced from biodegradable raw materials such as corn, sugarcane, sugar beet and cassava. This bioplastic is produced from crystallization of lactic acid found in various plant sources. Polylactic acid finds its application in a number of end-use industries such as packaging, cosmetics & personal care, agriculture, textiles, medical, automotive and electronics among others.
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Companies Profiled in this report includes, BASF SE; Danimer Scientific; Futerro SA; NatureWorks LLC; Total Corbion PLA; Synbra Technology bv; Hitachi, Ltd.; Sulzer Ltd; TOYOBO CO., LTD.; Mitsubishi Chemical Corporation; Dow; TORAY INDUSTRIES, INC.; weforyou GmbH; Merck KGaA; Musashino Chemical Laboratory, Ltd.; The Chemical Company and Reliance Life Sciences among others.
After study key companies, the report focuses on the startups contributing towards the growth of the market. Capable mergers and acquisitions among the startups and major organizations are identified by the report’s authors in the study. As leading vendors take efforts to maintain their dominance in the market, the right way to do so is by adopting new technologies and strategies. The report climaxes major technological developments and changing trends adopted by key vendors over a period of time. For a stronger and high steady business outlook, the report on the worldwide market carries key projections that can be practically studied.
Market Drivers:
- High demand from the industries for the consumption of green, eco-friendly packaging alternatives; this factor is expected to augment growth of the market
- Rising demand for bioplastics due to a growth of concern regarding the environment is also expected to have a positive effect on the market
- Initiatives taken by various governments to promote the use of bioplastics is also expected to drive the growth of the market
- Increasing demand for the product from personal care & cosmetics good is also expected to drive the market value
Market Restraints:
- High costs associated with the advancements in research and production process of the product; this factor is expected to restrict the growth of the market
- Requirement of specific conditions and requirements for the complete biodegradation of these products is also expected to restrict the growth of the market
- Availability of fiber-based alternatives of the product is also expected to restrict the growth of the market
Segmentation: Global Polylactic Acid (PLA) Market
By Raw Material
- Corn
- Cassava
- Sugarcane & Sugar Beet
- Others
By Form
- Fiber
- Films & Sheets
- Coatings
- Others
By Application
- Packaging
- Agriculture
- Transport
- Medical
- Electronics
- Textiles
- Other
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