Polylactic Acid (PLA) Market

The report "Polylactic Acid (PLA) Market by Grade (Thermoforming, Extrusion, Injection Molding, Blow Molding), Application (Rigid Thermoform, Film & Sheet, Bottles), End-use Industry (Packaging, Consumer Goods, Agricultural, Textile, Biomedical) and Region - Global Forecast to 2026", size is projected to grow from USD 1.0 billion in 2021 to USD 1.9 billion by 2026, at a CAGR of 12.2% between 2021 and 2026.

Browse 115 market data Tables and 47 Figures spread through 188 Pages and in-depth TOC on "Polylactic Acid (PLA) Market by Grade (Thermoforming, Extrusion, Injection Molding, Blow Molding), Application (Rigid Thermoform, Film & Sheet, Bottles), End-use Industry (Packaging, Consumer Goods, Agricultural, Textile, Biomedical) and Region - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/polylactic-acid-pla-market-29418964.html

PLA is a linear, aliphatic polyester synthesized from lactic acid monomers. It is biodegradable and has characteristics similar to polypropylene (PP), polyethylene (PE), or polystyrene (PS). It is compostable and the most used type of biodegradable plastic derived from renewable resources such as corn starch, tapioca roots, chips, starch, or sugarcane. These renewable raw materials make PLA non-toxic and environmentally friendly. Plastic products may take up to a thousand years to degrade, while PLA products biodegrade within three-to-six months in an industrial composting system. It is largely used in the packaging industry because it does not have a negative impact on food prices or its supply. Government policies on use of conventional plastics and growing awareness for environmental safety drives the PLA market globally.

The packaging segment is estimated to be the fastest-growing end-use industry for PLA market during the forecast period.

Packaging is the largest end-use industry for PLA, with a high CAGR of 13.0% during the forecast period. The need for sustainable solutions has encompassed several industry verticals, including food & beverages, e-commerce, and FMCG. The unique properties of packaging enable its use in various food and non-food applications such as cigarettes, biscuits, sugar confectioneries, baked goods, noodles, and other snacks. The rise in e-commerce has also increased packaging requirements.

The thermoforming grade segment is expected to lead the PLA market during the forecast period.

Thermoforming grade has enormous growth potential in various packaging applications such as food, beverages, and other consumer products. Thermoformed parts made of PLA have excellent clarity, comparable to those formed in oriented polystyrene (OPS) and polyethylene terephthalate (PET). This, combined with the temperature requirements for product storage, make thermoformed PLA suitable for food packaging trays for baked goods, fruits, and vegetables.

Europe is expected to be the largest market for PLA during the forecast period.

The packaging industry is the largest end-use industry of PLA in Europe. The political and economic conditions have also driven the market penetration of PLA. The EU Commission has focused on the Lead Markets Initiative, where PLA has been identified as one of the most important potential markets. The strict government norms and economic conditions have also driven the PLA market. These factors have been responsible for the development of PLA with collaborative research in the region.

The key players in this market are Natureworks LLC (US), Total Corbion PLA (Netherlands), BASFSE (Germany), Cofco (China), Futerro (Belgium), Danimer Scientific (US), Toray Industries Inc. (Japan), Evonik Industries (Germany), Mitsubishi Chemical Corporation (Japan), and Unitika Ltd. (Japan).

Don’t miss out on business opportunities in Polylactic Acid (PLA) Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]