According to study, “World
Polylactice Acid (PLA) Market Research Report 2024(Covering USA, EU,
China, South East Asia, Japan and etc)” the key companies operating in the
world polylactice acid market areNatureWorks LLC, BASF SE, Teijin Ltd., Thyssenkrupp
AG, Synbra Technology B.V, Zhejiang Hisun Biomaterials Co., Ltd., Uhde
Inventa-Fischer, Danimer Scientific, Sulzer Ltd., Yangtzelabre, Jiuding
Biological Engineering, Shenzhen Esun Industrial, Corbion, Hitachi Ltd., Futerro,
Shanghai Tongjieliang. Key companies are undertaking many initiatives for
instance product accreditation and strengthening product length to increase its
performance over the coming years.
Polylactic acid or PLA is a
type of thermoplastic aliphatic polyester produced from wide variety of
renewable feedstock for instance wheat, corn, starch, sugarcane and tapioca
roots. It is made through two different processes such as condensation and
polymerization. It is soluble in solvents, tetrahydrofuran, hot benzene, and
dioxane. It is eco-friendly as well as biocompatible in nature. It is used to
produce microwaveable containers and engineering plastics such as food
containers and disposable cutlery. The key properties are better aesthetic
appeal, better printability and good resistance to oil & grease.
Based on type, polylactice acid market is segmented
into PLLA (Poly-L-lactic Acid), PDLLA (Poly-DL-lactic Acid) and PDLA
(Poly-D-lactic Acid). Based on raw material, market is segmented into
sugarcane, cassava, corn, and other crops (wheat, potato, rice, and sweet
sorghum). Sugarcane segment is estimated to witness a high demand during the
forecast years owing to various research & development (R&D)
initiatives conducted in order to extend innovative manufacturing processes to
support the manufacture of bioplastics & biochemical made from sustainable
feedstock. In addition, based on application, market is segmented into transport,
packaging (food & beverages), textile, electrical & electronics,
consumer goods, and others. Packaging segment holds major share due to increase
in consumer awareness regarding the need to decrease dependency of fossil fuel
reserves.
The polylactice acid market is driven by growth in
demand for flexible packaging market, followed byincrease in demand for
bioplastics packaging, rise in demand for cellulose derived fibers in textile
industry, easy availability of raw materials, increase in personal or skin care
industry, rise in drug manufacturing, introduction of innovative products, increase
in consumption of biodegradable polymers, presence of leading manufacturing
companies, rise in use of the product in shopping bags & disposable
cutlery, growth in composting infrastructure, inherent features such as flavor
and odor barrier characteristics, increase in technological advancement, government
incentives and rise in consumer preference towards green packaging&
recyclability. However, inferior performance compared to conventional plastics
and price competitiveness may impact the market. Moreover, rise in usage D
printing and growth in production of genetically modified corn are key opportunities
for market.
Based on geography, EU holds major share in polylactice
acid market owing to implementation of strict regulations by government body
for instance REACH and continuous growth in transportation sector in the
region. China, Japan and USA countries are expected to witness higher growth
rate due to rise in production facilities, large production capacity,
supportive legal framework, feedstock abundancy, and rise in consumer awareness
for sustainability over the forecast period. It is anticipated that future of
the market will be bright on account of rise in demand for packaged foods including
ready-to-eat meals and frozen meals.
For more information on the research
report, refer to below link:
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