Polylactic Acid (PLA) Market Research Report- Size, Share, Trends, Top Manufacturer, Competitive Landscape, Industry Evaluation, Global Forecast To 2023
Polylactic Acid Market Increasing Demand from Automotive as well as Consumer Goods projected to boost the growth of the global market, Polylactic Acid Market categorizes by Type, Application, Region. Increasing consumer awareness, easy availability of raw materials are the major factors driving market growth
Pune, India – May 30, 2019 /MarketersMedia/ —
Synopsis of Polylactic Acid Market:-
The global polylactic acid (PLA) market is segmented into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among them, Europe accounted for ~33% market in 2016 and is estimated to grow at a steady CAGR over the assessment period 2017-2023. The European polylactic acid market is categorized into Germany, France, Italy, Spain, the UK, and Russia. Comparatively, Germany and Spain hold the largest market share and are predicted to continue speedy growth over the forecast period due to increasing use of PLA in the automotive sector.
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Moreover, stringent regulation by government agency regarding the use of non-biodegradable plastic as well as rising consumer awareness about the benefits of the product are expected to drive the growth of the market. Rising number of manufacturing facilities in countries such as Germany and the UK coupled with the high adoption rate of PLA is estimated to propel the demand for polylactic acid over the assessment period. Latin American countries such as Brazil, Peru, Venezuela, Argentina, and Colombia are the major contributors to the regional market growth on account of strong consumer base for textile industry as well as rising disposable income.
European market is followed by North America. The North American market is categorized into the U.S and Canada. Comparatively, the U.S. holds the largest market share and is predicted to grow at a substantial CAGR due to rising demand from the textile as well as pharmaceutical sector. Moreover, rising medical industry coupled with increasing consumption of flexible packaging in the U.S. and Canada is likely to fuel industry expansion. Additionally, the production for PLA in this region is predicted to grow on account of government subsidiaries for environmentally friendly product and technical expertise.
Asia Pacific is estimated to witness a tremendous growth on account of rising consumption of polylactic acid in various end use industries such as electrical & electronics, automotive, textile, and others. In 2016, countries of Asia Pacific such as China, India, South Korea, and Japan dominated the regional market and is predicted to grow at a significant CAGR due to expanding end use industries. Furthermore, rising industrial investment and high economic growth rate in developing countries of Asia Pacific have been major factors driving the demand for polylactic acid in this region. Growing demand for packaged food and ready-to-eat items are estimated to propel the demand from packaging industries, which is likely to boost the growth of the PLA based films.
Segmentation of Polylactic Acid Market:-
The global polylactic acid market is categorized based on type, application, and region. Based on the type, the market is segmented into PLLA (Poly-L-lactic Acid), PDLA (Poly-D-lactic Acid), PDLLA (Poly-DL-lactic Acid). Based on the application, the market is classified into automotive, textile, packaging, consumer goods, electrical & electronics, and others. Based on the regions, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa.
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Key Players of Polylactic Acid Market:-
Some of the key industry participants operating in the global polylactic acid market are BASF SE (Germany), The DOW Chemical Company (U.S.), Corbion (the Netherlands), TEIJIN LIMITED. (Japan), NatureWorks LLC (U.S.), Synbra Technology bv (the Netherlands), Galactic (Belgium), Sulzer Ltd (Switzerland), Hitachi, Ltd. (Japan), Musashino Chemical Laboratory, Ltd. (Japan), and others
Table Of Contents:-
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
5 Industry Overview Of Global Polylactic Acid Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
To Be Continue……
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