Polylactic Acid Market by TotalEnergies Corbion bv; NatureWorks LLC;Jiangsu Supla Bioplastics Co., Ltd.; Futerro

19 February 2020 - The global Lactic Acid & Polylactic Acid Market is anticipated to reach USD 9.8 billion and USD 6.5 billion respectively by 2025.

Growing demand for environmental friendly packaged products and awareness is expected to drive the market growth over the forecast period.

The production of PLA uses 68 percent less fossil fuel resources than traditional plastics and it is the world's first greenhouse-gas-neutral polymer.

This organic compound is easily compostable and biodegradable, subsequently minimizing environmental hazards including solid waste disposal.

However, introduction of other renewable packaging alternatives in the market, for example agricultural natural fiber products such as bagasse, bamboo, palm fiber bulrush.

However, companies operating in the market have been are innovation new processes to enhance heat resistance power of polymers.Based on application type the global market is segmented into industrial, personal care, packaging, petroleum based products and textiles.

The global ''polylactic acid market size'' is expected to gain momentum by reaching USD 2,306,708.2 thousand by 2028 while exhibiting an impressive CAGR of 16.3% between 2021 and 2028.

COVID-19 Leads to Reduced Adoption of PLA Owing to Industrial ShutdownIn April 2020, the International Monetary Fund (IMF) estimated a 3% fall in the overall global economic activity in 2020, which is believed to be higher than the 2009 economic slowdown.

Moreover, several government agencies have banned the use of single-use plastics citing no provision for the biodegradation of the materials.

Additionally, based on application, the packaging segment is expected to experience considerable growth due to the increasing adoption of this acid for food packaging and the growing focus on adopting biodegradable plastics as packaging materials by several industries globally.Lastly, based on region, the market is bifurcated into Europe, Latin America, Asia-Pacific, North America, and the Middle East and Africa.

What does the report include?The global market for the polylactic acid report includes a detailed analysis using several research methodologies and focuses on crucial aspects such as leading companies, applications, and products.

The rising concerns over the disposal of plastic is expected to boost the adoption of biodegradable plastics such as polylactic acid that are derived from biological raw materials across the packaging sector.

Global lactic acid market is expected to grow at a CAGR of 16.2% from 2017 to 2025.

Lactic acid is a colorless syrupy liquid with alcohol and water that is produced from raw materials including carbohydrates such as sugarcane, tapioca, corn and sugar beet.

The production of PLA uses 68 percent less fossil fuel resources than traditional plastics and it is the world's first greenhouse-gas-neutral polymer.

This organic compound is easily compostable and biodegradable, subsequently minimizing environmental hazards including solid waste disposal.

However, introduction of other renewable packaging alternatives in the market, for example agricultural natural fiber products such as bagasse, bamboo, palm fiber bulrush.

These alternatives are expected to restraint the market growth since all these natural fibers are degradable and low cost, it’s reinforcement with PLA acts as an opportunity which is ecological as well as economical.

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.The latest research report by Emergen Research, named ‘Global Polylactic Acid Market - Forecast to 2027’, entails a comprehensive review of the global Polylactic Acid market’s present and future trends.

The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe.Get a sample of the report @https://www.emergenresearch.com/request-sample/145 Market Scope:One of the report’s central components is the broad Polylactic Acid market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders.

The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period.

The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.Key Highlights From The ReportIn 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.

A publication on the “Global Lactic acid and Polylactic Acid Market Size 2017, End-Use Analysis for [Lactic Acid (Industrial, Food And Beverages, Pharmaceuticals, Personal Care) & Polylactic Acid (Packaging, Agriculture, Electronics, Textiles)], Region And Forecast, 2018-2025” was published by Adroit Market Research.

Furthermore, the study includes global lactic acid and polylactic acid market dynamics including drivers, restraints, and opportunities.

Polylactic acid, a polymer of lactic acid, is among the most widely adopted bioplastics which find application in packaging, textiles, electronics, and agriculture among others.

Growing usage across end-user industries coupled with growing adoption for bioplastics is projected to boost the growth for global lactic acid and polylactic acid market over the forecast period.Polylactic acid is produced by polymerization of lactic acid, is regarded among the innovative bioplastics that are propelling the demand for bioplastics industry.

Therefore, owing to this, polylactic acid (PLA) market is witnessing remarkable growth across the globe.Read details of the Lactic acid and Polylactic Acid Market report at: https://www.adroitmarketresearch.com/industry-reports/lactic-acid-and-polylactic-acid-marketRegional analysis of global lactic acid and polylactic acid market shows that Asia Pacific is projected to witness significant growth with CAGR 19.1% over the forecast period.

Europe and North America are also projected to show steady growth owing to the high adoption of bioplastics due to stringent environmental regulations.Cargill, Inc., Galactic, CELLULAC, NatureWorks LLC, Synbra Technology bv, and Weforyou GmbH are some of the key players of the global lactic acid and polylactic acid market.

Some of the leading players in the global lactic acid market and polylactic acid market are Futerro SA, Teijin Ltd., Zhejiang Hisun Biomaterials Co., Ltd., Synbra Technology BV, Archer Daniels Midland Company, Henan Jindan Lactic Acid Technology Co., Ltd., NatureWorks LLC, and Corbion NV., notes Transparency Market Research (TMR).The global lactic acid market stood at US$1,130.4 Mn in 2014 and is estimated to reach US$3,381.8 Mn by the end of 2023.

Polylactic acid market is projected to proliferate at a CAGR of 14.6% during the same forecast period.

The various end-use segments for polylactic acid are packaging, textile, electronics, automotive, and biomedical.

The substantial growth of this regional market over the past few years is attributed to the extensive demand for bioplastics.

On the other hand, the Asia Pacific polylactic acid market is expected to witness the leading growth rate in the coming years.Lavish Demand for Downstream Applications boosts Lactic Acid Market and Polylactic Acid MarketThe extensive application of lactic acid in the food and beverages and pharmaceutical industries world over is a key factor driving its demand.

The rising application of lactic acid as a key carboxylic acid increasingly used in the manufacture of biodegradable is accentuating the global lactic acid market.

The global polylactic acid market size is expected to experience exponential growth by reaching USD 2,306,708.2 thousand by 2028.

This information is published by Fortune Business Insights in its latest report, titled, “Polylactic Acid Market, 2021-2028.” The report further observes that the market stood at USD 698,200.9 thousand in 2020 and is projected to exhibit a CAGR of 16.3% between 2021 and 2028.Increasing Demand for Polylactic Acid (PLA) and Composites in Medical IndustryIn September 2020, Total Corbion PLA announced its plan to build its second PLA facility with an aim to manufacture up to 100,000 tons of PLA and its composites annually.

According to the company, the new plant will be operational from 2024 at Grandpuits, France.

The growing demand for biocompatible and biodegradable polymers across the medical industry for tissue engineering, medical implants, drug delivery systems, and orthopedic devices is expected to boost the market’s demand in the forthcoming years.Market Segmentation: We have bifurcated the market based on application and region.

On the basis of application, the market is categorized into packaging, textiles, consumer Goods, agriculture & horticulture, and others.

Lastly, based on region, the market is segmented into Europe, Asia-Pacific, Latin America, the Middle East and Africa, and North America.What does the Report Provide?The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth.

The global lactic acid & polylactic acid market is anticipated to reach USD 9.8 billion and USD 6.5 billion respectively by 2025.

This organic compound is easily compostable and biodegradable, subsequently minimizing environmental hazards including solid waste disposal.

However, introduction of other renewable packaging alternatives in the market, for example agricultural natural fiber products such as bagasse, bamboo, palm fiber bulrush.

However, companies operating in the market have been are innovation new processes to enhance heat resistance power of polymers.

Personal care segment is expected to be the fast growing segment, owing to its wide use in products for, anti-acne, skin lightening, anti-aging, and anti-wrinkle.

Growing demand among all the application segments and high concentration of allied industries of lactic acid in this region is expected to be the key driving force for the industry in this region.

Lactic Acid & Polylactic Acid Market: IntroductionTransparency Market Research delivers key insights on the global lactic acid & polylactic acid market.

In terms of revenue, the global lactic acid & polylactic acid market is estimated to expand at a CAGR of 13.7% and a CAGR 15.8%, respectively, during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global lactic acid & polylactic acid market.The global lactic acid & polylactic acid market is broadly affected by several factors, including increase in usage of lactic acid and polylactic acid in various end-use industries such as food & beverages, personal care, pharmaceutical, packaging, textile, automobile, electrical & electronics, agriculture, and construction.

The growth of polymer and packaging industries is also propelling the demand for lactic acid and polylactic acid.Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=83039Lactic Acid & Polylactic Acid Market: DynamicsLactic acid is an organic acid.

The production includes artificial synthesis as well as natural sources.

It is used as a synthetic intermediate in organic synthesis and biochemical industries.

Polylactic acid has become a popular material, as it is economically produced from renewable resources.

The global lactic acid & polylactic acid market is anticipated to reach USD 9.8 billion and USD 6.5 billion respectively by 2025.

Lactic acid is a colorless syrupy liquid with alcohol and water that is produced from raw materials including carbohydrates such as sugarcane, tapioca, corn and sugar beet.

The production of PLA uses 68 percent less fossil fuel resources than traditional plastics and it is the world's first greenhouse-gas-neutral polymer.

This organic compound is easily compostable and biodegradable, subsequently minimizing environmental hazards including solid waste disposal.

However, introduction of other renewable packaging alternatives in the market, for example agricultural natural fiber products such as bagasse, bamboo, palm fiber bulrush.

Increasing adoption of bioplastics on account of changing consumer preferences and need for sustainable products is also expected to positively impact the global market in the coming years.