The global Polylactic Acid (PLA) market is anticipated to grow at considerable CAGR around 15.12% over the forecast period and reach US$ 4.10 Bn by 2026. Polylactic acid (PLA) is a compostable and recyclable thermoplastic created from fermentable sugar available in various renewable sources, including tapioca roots sugarcane, corn starch, and wheat. Polylactic acid is widely used in various packaging applications of food, beverages and other consumer product that has short shelf-life. Easy availability and low cost of raw material are some of the factors responsible for the market growth. The report provides analysis of global Polylactic Acid (PLA) market for the period 2015-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year.
Growing application in the cosmetics and personal care industry, ongoing advancements in science and technology, increasing consumer awareness and government incentives across the globe are some of the major factors driving the global polylactic acid (PLA) market growth. Rapid introduction of sophisticated and advanced products along for a particular consumer group are anticipated to fuel the market growth. Growing utilization of the product in a variety of industries such as agriculture, packaging, electronics, transport, and textiles is fueling the growth of the market. The demand for polyactic acid products are increasing in the personal or skin care industry as the product improves skin lightening effects, accelerates cell renewal and exfoliation and enhances the collagen & elastin synthesis. Sugarcane-based lactic acid is projected to witness a high demand over the forecast years due to various research & development initiatives conducted in order to extend new manufacturing processes to support the production of bioplastics & biochemical made from sustainable feedstock. Rising consumption of biodegradable polymers and growing composting infrastructure are propelling the market growth. Growing focus on product development, rising investments in research & development activities and increasing production capacities are expected to spur the overall market growth. However, factors such as high production cost and availability of alternatives may hamper the global polylactic acid (PLA) market growth.
Market by Type
Market by End-use
Market by Geography
The market research study on “Polylactic Acid Market (By Type - Packaging, Agriculture, Transport, Electronics, Textiles, Others; By End-use - Industrial, Food & Beverage, Pharmaceuticals, Personal Care) - Global Industry Size, Share, Trends and Forecast 2018 - 2026” offers a detailed insights on global polylactic acid (PLA) market providing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global polylactic acid (PLA) market by application, end-use and major geographic regions. The report also covers development policies. Secondly, the report covers global polylactic acid (PLA) market size and segment markets by application, end-use and geography along with the information on companies operating in the market.
The global Polylactic Acid (PLA) market is characterized by the presence of experienced and established pl-ayers. Some of the key players include Danimer Scientific LLC, Zhejiang Hisun Biomaterials Co., Ltd, Nature Works LLC, Nantong Jiuding Biological Engineering Co., Ltd, Spectrum Chemical Manufacturing Corp. NatureWorks LLC, Synbra Technology BV, Hawkins, Inc., Corbion Purac and Chongqing Bofei Biochemical Products Co. Ltd. Prominent market players in the market are mainly focusing on offering environment-friendly solutions.