Polylactic Acid Market was valued at US$ 1.41 Bn in 2022 and expected to reach US$ 4.84 Bn by 2029, at a CAGR of 19.2% during the forecast period. The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.To know about the Research Methodology :- Request Free Sample Report olylactic acid (PLA) is a bio-degradable and bioactive thermoplastic aliphatic polymer produced from lactic acid using various crops like corn, sugarcane, tapioca, etc. as a raw material. Polylactic acid is prepared by direct condensation of lactic acid monomers. It can also be prepared by ring-opening polymerization of lactide, with various metal catalysts in solution, melt, or suspension. Polylactic acid demand is expected to increase, due to the scarcity and volatility of prices of fossil fuels. Bio-based plastics have the potential to reduce consumption and dependence on petroleum-based feedstock, and lessen the negative impact on the environment, by reducing carbon footprints. Based on the application, the market has been segmented into Packaging, Agriculture, Electronics, Textiles, and Bio-Medical. The packaging industry captures a major share of the application. Polylactic acid is preferred in the food packaging industry due to increasing awareness about environmental concerns possess by the use of conventional plastics packaging. The textile industry is one of the important sectors with high growth and penetration rate of polylactic acid as it offers smooth 7 pleasant fabrics. In addition, increased usage of plastic in cosmetic products and their packaging is fueling the market demand for Polylactic acid. Factors majorly driving the global market demand are: Increasing use of Polylactic acid in personal care products (creams, shampoos, and other body care products), and growing consumer awareness about sustainability, recyclability, and green packaging is expected to drive the market. The problems such as fluctuating crude oil prices and limited fossil fuel resources contribute to the rising demand as plastics are mostly manufactured using resources. Increasing consumer awareness, government incentives, and easy availability of raw materials are the major factors driving the market growth. The market faces few challenges, such as price competitiveness and availability of cheaper alternatives, and difficulty in the disposal of Polylactic acid. North America is the largest consumer market for Polylactic acid & expected to dominate the global Polylactic acid market in terms of the revenue generated. The Asia-Pacific will be the fastest-growing market during this period. In China, raw materials are found in abundance; thus manufacturers can take advantage of this to make a profit. Furthermore, the European polylactic acid market is also expected to be the prospective growth market for the forecast period. The key market players operating in the global polylactic acid market are BASF SE, Bayer, Total-Corbion, Dow-DuPont, Eastman Chemicals, Henen Jindan Lactic Acid Technology, Mitsubishi Chemical, Nature Works, SULZER, Teijin, Wei Mon Industry, Corbion, and Danimer Scientific. The report covers the total market for the polylactic acid market has been analyzed based on the Porter's five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
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Polylactic Acid Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 1.41 Bn. Forecast Period 2023 to 2029 CAGR: 19.2% Market Size in 2029: US $ 4.84 Bn. Segments Covered: by Application • Packaging • Agriculture • Electronics • Textiles • Bio-Medical Polylactic Acid Market, by Region
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)Polylactic Acid Market Key Players
• BASF SE • Bayer • Total-Corbion • Dow-DuPont • Eastman Chemicals • Henen Jindan Lactic Acid Technology • Mitsubishi Chemical • Nature Works • Corbion Purac • Hisun Biomaterials • SULZER • Teijin • Wei Mon Industry • Corbion • Danimer Scientific Frequently Asked Questions: 1. Which region has the largest share in Global Polylactic Acid Market Market? Ans: North America region holds the highest share in 2022. 2. What is the growth rate of Global Polylactic Acid Market Market? Ans: The Global Polylactic Acid Market Market is growing at a CAGR of 19.2% during forecasting period 2023-2029. 3. What is scope of the Global Polylactic Acid Market market report? Ans: Global Polylactic Acid Market Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Polylactic Acid Market market? Ans: The important key players in the Global Polylactic Acid Market Market are – BASF SE, Bayer, Total-Corbion, Dow-DuPont, Eastman Chemicals, Henen Jindan Lactic Acid Technology, Mitsubishi Chemical, Nature Works, Corbion Purac, Hisun Biomaterials, SULZER, Teijin, Wei Mon Industry, Corbion, and Danimer Scientific 5. What is the study period of this market? Ans: The Global Polylactic Acid Market Market is studied from 2022 to 2029.
Global Polylactic Acid Market
1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Polylactic Acid Size, by Market Value (US$ Mn) and Market Volume (Units) 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7. Industry Trends and Emerging Technologies 4.8. Patent Registration 5. Supply Side and Demand Side Indicators 6. Global Polylactic Acid Market Analysis and Forecast 6.1. Global Polylactic Acid Market Size & Y-o-Y Growth Analysis 6.1.1. North America 6.1.2. Europe 6.1.3. Asia Pacific 6.1.4. Middle East & Africa 6.1.5. South America 7. Global Polylactic Acid Market Analysis and Forecast, by Application 7.1. Introduction and Definition 7.2. Key Findings 7.3. Global Polylactic Acid Market Value Share Analysis, by Application 7.4. Global Polylactic Acid Market Size (US$ Mn) Forecast, by Application 7.5. Global Polylactic Acid Market Analysis, by Application 7.6. Global Polylactic Acid Market Attractiveness Analysis, by Application 8. Global Polylactic Acid Market Analysis, by Region 8.1. Global Polylactic Acid Market Value Share Analysis, by Region 8.2. Global Polylactic Acid Market Size (US$ Mn) Forecast, by Region 8.3. Global Polylactic Acid Market Attractiveness Analysis, by Region 9. North America Polylactic Acid Market Analysis 9.1. Key Findings 9.2. North America Polylactic Acid Market Overview 9.3. North America Polylactic Acid Market Value Share Analysis, by Application 9.4. North America Polylactic Acid Market Forecast, by Application 9.4.1. Packaging 9.4.2. Agriculture 9.4.3. Electronics 9.4.4. Textiles 9.4.5. Bio-Medical 9.5. North America Polylactic Acid Market Value Share Analysis, by Country 9.6. North America Polylactic Acid Market Forecast, by Country 9.6.1. U.S. 9.6.2. Canada 9.7. North America Polylactic Acid Market Analysis, by Country 9.8. U.S. Polylactic Acid Market Forecast, by Application 9.8.1. Packaging 9.8.2. Agriculture 9.8.3. Electronics 9.8.4. Textiles 9.8.5. Bio-Medical 9.9. Canada Polylactic Acid Market Forecast, by Application 9.9.1. Packaging 9.9.2. Agriculture 9.9.3. Electronics 9.9.4. Textiles 9.9.5. Bio-Medical 9.10. North America Polylactic Acid Market Attractiveness Analysis 9.10.1. By Application 9.11. PEST Analysis 9.12. Key Trends 9.13. Key Developments 10. Europe Polylactic Acid Market Analysis 10.1. Key Findings 10.2. Europe Polylactic Acid Market Overview 10.3. Europe Polylactic Acid Market Value Share Analysis, by Application 10.4. Europe Polylactic Acid Market Value Share Analysis, by Application 10.5. Europe Polylactic Acid Market Forecast, by Application 10.5.1. Packaging 10.5.2. Agriculture 10.5.3. Electronics 10.5.4. Textiles 10.5.5. Bio-Medical 10.6. Europe Polylactic Acid Market Value Share Analysis, by Country 10.7. Europe Polylactic Acid Market Forecast, by Country 10.7.1. Germany 10.7.2. U.K. 10.7.3. France 10.7.4. Italy 10.7.5. Spain 10.7.6. Rest of Europe 10.8. Europe Polylactic Acid Market Analysis, by Country 10.9. Germany Polylactic Acid Market Forecast, by Application 10.9.1. Packaging 10.9.2. Agriculture 10.9.3. Electronics 10.9.4. Textiles 10.9.5. Bio-Medical 10.10. U.K. Polylactic Acid Market Forecast, by Application 10.10.1. Packaging 10.10.2. Agriculture 10.10.3. Electronics 10.10.4. Textiles 10.10.5. Bio-Medical 10.11. France Polylactic Acid Market Forecast, by Application 10.11.1. Packaging 10.11.2. Agriculture 10.11.3. Electronics 10.11.4. Textiles 10.11.5. Bio-Medical 10.12. Italy Polylactic Acid Market Forecast, by Application 10.12.1. Packaging 10.12.2. Agriculture 10.12.3. Electronics 10.12.4. Textiles 10.12.5. Bio-Medical 10.13. Spain Polylactic Acid Market Forecast, by Application 10.13.1. Packaging 10.13.2. Agriculture 10.13.3. Electronics 10.13.4. Textiles 10.13.5. Bio-Medical 10.14. Rest of Europe Polylactic Acid Market Forecast, by Application 10.14.1. Packaging 10.14.2. Agriculture 10.14.3. Electronics 10.14.4. Textiles 10.14.5. Bio-Medical 10.15. Europe Polylactic Acid Market Attractiveness Analysis 10.15.1. By Application 10.16. PEST Analysis 10.17. Key Trends 10.18. Key Developments 11. Asia Pacific Polylactic Acid Market Analysis 11.1. Key Findings 11.2. Asia Pacific Polylactic Acid Market Overview 11.3. Asia Pacific Polylactic Acid Market Value Share Analysis, by Application 11.4. Asia Pacific Polylactic Acid Market Forecast, by Application 11.4.1. Packaging 11.4.2. Agriculture 11.4.3. Electronics 11.4.4. Textiles 11.4.5. Bio-Medical 11.5. Asia Pacific Polylactic Acid Market Value Share Analysis, by Country 11.6. Asia Pacific Polylactic Acid Market Forecast, by Country 11.6.1. China 11.6.2. India 11.6.3. Japan 11.6.4. ASEAN 11.6.5. Rest of Asia Pacific 11.7. Asia Pacific Polylactic Acid Market Analysis, by Country 11.8. China Polylactic Acid Market Forecast, by Application 11.8.1. Packaging 11.8.2. Agriculture 11.8.3. Electronics 11.8.4. Textiles 11.8.5. Bio-Medical 11.9. India Polylactic Acid Market Forecast, by Application 11.9.1. Packaging 11.9.2. Agriculture 11.9.3. Electronics 11.9.4. Textiles 11.9.5. Bio-Medical 11.10. Japan Polylactic Acid Market Forecast, by Application 11.10.1. Packaging 11.10.2. Agriculture 11.10.3. Electronics 11.10.4. Textiles 11.10.5. Bio-Medical 11.11. ASEAN Polylactic Acid Market Forecast, by Application 11.11.1. Packaging 11.11.2. Agriculture 11.11.3. Electronics 11.11.4. Textiles 11.11.5. Bio-Medical 11.12. Rest of Asia Pacific Polylactic Acid Market Forecast, by Application 11.12.1. Packaging 11.12.2. Agriculture 11.12.3. Electronics 11.12.4. Textiles 11.12.5. Bio-Medical 11.13. Asia Pacific Polylactic Acid Market Attractiveness Analysis 11.13.1. By Application 11.14. PEST Analysis 11.15. Key Trends 11.16. Key Developments 12. Middle East & Africa Polylactic Acid Market Analysis 12.1. Key Findings 12.2. Middle East & Africa Polylactic Acid Market Overview 12.3. Middle East & Africa Polylactic Acid Market Value Share Analysis, by Application 12.4. Middle East & Africa Polylactic Acid Market Forecast, by Application 12.4.1. Packaging 12.4.2. Agriculture 12.4.3. Electronics 12.4.4. Textiles 12.4.5. Bio-Medical 12.5. Middle East & Africa Polylactic Acid Market Value Share Analysis, by Country 12.6. Middle East & Africa Polylactic Acid Market Forecast, by Country 12.6.1. GCC 12.6.2. South Africa 12.6.3. Rest of Middle East & Africa 12.7. Middle East & Africa Polylactic Acid Market Analysis, by Country 12.8. GCC Polylactic Acid Market Forecast, by Application 12.8.1. Packaging 12.8.2. Agriculture 12.8.3. Electronics 12.8.4. Textiles 12.8.5. Bio-Medical 12.9. South Africa Polylactic Acid Market Forecast, by Application 12.9.1. Packaging 12.9.2. Agriculture 12.9.3. Electronics 12.9.4. Textiles 12.9.5. Bio-Medical 12.10. Rest of Middle East & Africa Polylactic Acid Market Forecast, by Application 12.10.1. Packaging 12.10.2. Agriculture 12.10.3. Electronics 12.10.4. Textiles 12.10.5. Bio-Medical 12.11. Middle East & Africa Polylactic Acid Market Attractiveness Analysis 12.11.1. By Application 12.12. PEST Analysis 12.13. Key Trends 12.14. Key Developments 13. South America Polylactic Acid Market Analysis 13.1. Key Findings 13.2. South America Polylactic Acid Market Overview 13.3. South America Polylactic Acid Market Value Share Analysis, by Application 13.4. South America Polylactic Acid Market Forecast, by Application 13.4.1. Packaging 13.4.2. Agriculture 13.4.3. Electronics 13.4.4. Textiles 13.4.5. Bio-Medical 13.5. South America Polylactic Acid Market Value Share Analysis, by Country 13.6. South America Polylactic Acid Market Forecast, by Country 13.6.1. Brazil 13.6.2. Mexico 13.6.3. Rest of South America 13.7. South America Polylactic Acid Market Analysis, by Country 13.8. Brazil Polylactic Acid Market Forecast, by Application 13.8.1. Packaging 13.8.2. Agriculture 13.8.3. Electronics 13.8.4. Textiles 13.8.5. Bio-Medical 13.9. Mexico Polylactic Acid Market Forecast, by Application 13.9.1. Packaging 13.9.2. Agriculture 13.9.3. Electronics 13.9.4. Textiles 13.9.5. Bio-Medical 13.10. Rest of South America Polylactic Acid Market Forecast, by Application 13.10.1. Packaging 13.10.2. Agriculture 13.10.3. Electronics 13.10.4. Textiles 13.10.5. Bio-Medical 13.11. South America Polylactic Acid Market Attractiveness Analysis 13.11.1. By Application 13.12. PEST Analysis 13.13. Key Trends 13.14. Key Developments 14. Company Profiles 14.1. Market Share Analysis, by Company 14.2. Competition Matrix 14.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 14.2.2. New Product Launches and Product Enhancements 14.2.3. Market Consolidation 14.2.3.1. M&A by Regions, Investment and Applications 14.2.3.2. M&A Key Players, Forward Integration and Backward Integration 14.3. Company Profiles: Key Players 14.3.1. BASF SE 14.3.1.1. Company Overview 14.3.1.2. Financial Overview 14.3.1.3. Product Portfolio 14.3.1.4. Business Strategy 14.3.1.5. Recent Developments 14.3.1.6. Manufacturing Footprints 14.3.2. Bayer 14.3.3. Total-Corbion 14.3.4. Dow-DuPont 14.3.5. Eastman Chemicals 14.3.6. Henen Jindan Lactic Acid Technology 14.3.7. Mitsubishi Chemical 14.3.8. Nature Works 14.3.9. SULZER 14.3.10. Teijin 14.3.11. Wei Mon Industry 14.3.12. Corbion 14.3.13. Danimer Scientific 15. Primary Key Insights