The latest research report by Emergen Research, named ‘Global Polylactic Acid Market - Forecast to 2027’, entails a comprehensive review of the global Polylactic Acid market’s present and future trends. The global polylactic acid (PLA) Market is projected to be worth USD 5,944.9 Million by 2027, according to a new report by Emergen Research. The market for polylactic acid (PLA), a bioplastic, is experiencing rapid growth attributed to its widespread application in packaging, textile, transport, agriculture, medical, and electronics, among others.
Besides, supportive government initiatives and offering subsidies to promote the growth of bioplastics are driving the growth of the market. In 2018, the Japanese Ministry of Environment made an announcement for the inclusion of USD 45.0 million/JPY 5.0 Billion in the FY2019 budget for developing products manufactured from bio-plastics and provide subsidies to firms that make paper substitutes to plastic.
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The report closely studies the growth trajectory of the global Polylactic Acid market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Key participants include Teijin Ltd., Thyssenkrupp AG, Synbra Technology BV, Hitachi Ltd., BASF SE, Futerro, Sulzer Ltd., NatureWorks LLC, Zheijiang Hisun Biomaterials Co., Ltd., and Total Corbion PLA, among others.
The increasing demand for polylactic acid (PLA) in the packaging sector is one of the significant factors influencing the market growth. It finds usage in numerous purposes comprising deli/ delicatessen and takeout containers, straws, cold drink cups, and cutlery, among others. Polylactic acid (PLA) is widely deployed for packaging applications attributed to its physical and mechanical characteristics. Commercially polylactic acid (PLA) packages possess features similar to Polyethylene terephthalate (PET) and offer improved mechanical features than polystyrene (PS). Recently, polylactic acid (PLA) finds application in food packaging for products, including fruit and vegetables, which have short shelf-life.
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Fabrics produced from polylactic acid (PLA) fibers possess a better fire-resistant property and are appropriate to cater to the fire safety standards required for textiles deployed in public occupancy buildings’ interior furnishings. Typical textile products comprise cubicle curtains, drapery, wall coverings, and outdoor coverings like tents and tarpaulins.
Emergen Research has segmented the global polylactic acid (PLA) on the basis of product type, distribution channel, application, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Racemic PLLA (Poly-L-lactic Acid)
- Regular PLLA (Poly-L-lactic Acid)
- PDLA (Poly-D-lactic Acid)
- PDLLA (Poly-DL-lactic Acid)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
Application Outlook (Revenue, USD Billion; 2017-2027)
- Packaging
- Textile
- Transport
- Agriculture
- Electronics
- Medical
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