Polylactic Acid Market key drivers, restraints, opportunities, and challenges in the market and how are they impact the market
Polylactic Acid Market Analyses How financially strong are the key players in the market (on the basis of revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
Pune, India – February 19, 2019 /MarketersMedia/ —
The global polylactic acid market was valued at US$ 812.0 Mn in 2018 and is expected to reach US$ 1727.6 Mn by the end of the forecast period, growing at a CAGR of 16.3% during the period from 2018 to 2023.
Polylactic acid refers to the bioactive and biodegradable thermoplastic aliphatic polyester that is derived from renewable sources such as cassava roots, corn starch, or sugarcane. Polylactic acid is mainly manufactured in the U.S and Japan, and it can be made into different consumer items such as cups, disposable plates, clothing, and packaging. Polylactic acid is biodegradable in nature and is derived from renewable sources.
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The characteristic of polylactic acid is quite similar to those of the thermoplastic polymers, including polystyrene, polyethylene, and polypropylene. The overall polylactic market is segmented into different raw material, forms, and application. Based on different raw materials, the market is segmented into cassava, corn, sugarcane, and sugar beet, among others. Based on different forms, the market is segmented into films & sheets, coatings, and fiber, among others. The market is further segmented into different applications such as automotive, packaging, electronics, agriculture, and textiles, among others.
The volatility in the prices of fossil fuels and their scarcity has resulted in a rise in the demand for polylactic acid. In addition to this, concerns regarding protection of the environment regulatory bodies and companies focus on finding alternatives to the oil-based products, thus triggering the market growth of polylactic acid. Plastics that are bio-based have the potential to reduce the dependence on and the consumption of the feedstock that are petroleum-based, thus minimizing the threat towards the environment.
Moreover, an increase in the consumption of processed and packaged foods such as snacks, ready-to-eat food items, and cake mixes is expected to spur the overall demand for flexible packaging in different countries such as Brazil, India, Saudi Arabia, Japan, and China, among others. This, in turn, will further stimulate the overall market growth of polylactic acid. In addition to this, blending of other materials with Polylactic Acid Market is expected to generate opportunities during the forecast period. However, high price of the raw materials is a major factor that is restraining the polylactic acid market.
Recent Developments in the Market:
Textiles: In Aug 2018, The FIBFAB project was initiated to industrialize and launch sustainable and biodegradable polylactic acid-based fabrics for women’s and men’s wear. The polylactic-based fabrics can be recycled when their shelf life ends, and they also offer UV resistance and comfort.
Asia Pacific: In Oct 2018, thyssenkrupp developed a manufacturing process for the bioplastic polylactide, which is the first plant-based on PLAneo® technology that is recently introduced production facilities in Changchun China. The new setup is expected to reduce the reliance on petroleum-based plastics
Corbion N.V.: In Dec 2018, biochemical specialist Corbion and the oil giant Total launched the second largest bioplastic plant in Thailand. The new launch will facilitate the production of 75,000 tons of polylactic acid each year.
Key Questions Answered in the Report:
• What is the market value of the overall market and its segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the market value at the regional and the country level?
• Who are the key market players and their key competitors?
• Who are the key market players at different stages of the value chain?
• What are the strategies for growth adopted by the key players in the market?
• How does a particular company rank against its competitors with respect to revenue, profit comparison, operational efficiency, cost competitiveness, and market capitalization?
• How financially strong are the key players in the market (on the basis of revenue and profit margin, market capitalization, expenditure analysis, investment analysis)?
• What are the recent trends in the market? (M&A, partnerships, new product developments, expansions)
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Related Reports on Polylactic Acid Market:
Global Polylactic Acid Market Summary Report
Global Polylactic Acid Market Segmentation Report
Global Polylactic Acid Market Regional Report
Global Polylactic Acid Market Competitive Intelligence & Company Profiles Report
Global Polylactic Acid Market Statbook
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