According to
a new market report published by Lucintel, the future of the polylactic acid
market looks promising with opportunities in the packaging, bio-medical,
textile, agriculture, and electronics end use industries. The global polylactic
acid market is expected to reach an estimated $3.7 billion by 2024 with a CAGR of
13.8% from 2019 to 2024. The major growth drivers for this market are
increasing government regulation, environment friendly and better mechanical
properties as compared to other biopolymers.
In this market, L-lactic, D-lactic, and
DL-lactic are the major product types of the polylactic acid. The L-lactic
product type is expected to remain the largest market and will witness highest
growth during the forecast period due to its increasing usage in packaging,
biomedical, textile, and agriculture industry.
Within the polylactic acid market, packaging
will remain the largest end use industry during the forecast period due to its
biodegradable properties and favorable government policies. Lucintel predicts
that the bio-medical end use is expected to witness the highest growth over the forecast period due its non-toxic and non-carcinogenic
effects on human body.
Europe is
expected to remain the largest market and will witness the highest growth over
the forecast period supported by stringent government regulations,
biodegradable, and mechanical properties.
Emerging trends, which have
a direct impact on the dynamics of the industry, include development of high
heat resistant polylactic acid and production of PLA from second generation
feedstock. Natureworks,
Total Corbion, Pyramid Bioplastic, Weforyou, and Zhejiang Hisun are among the
major manufactures of polylactic acid.
Lucintel, the
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global polylactic acid market by product type, end use industry, raw material, product
form, and region. Lucintel has prepared a comprehensive research report entitled “Growth
Opportunities in the Global Polylactic Acid Market 2019-2024: Trends, Forecast,
and Opportunity Analysis.” This
Lucintel report serves as a catalyst for growth strategy as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global polylactic acid market by product type,
end use, raw material, product form, and region as follows:
By Product Type [Volume (M lbs) and $M shipment analysis
for 2013 – 2024]:
- Poly(L-lactic) Acid
- Poly(D-lactic) Acid
- Poly(DL-lactic) Acid
By End Use [Volume (M lbs) and $M shipment
analysis for 2013 – 2024]:
- Packaging
- Bio-medical
- Textile
- Agriculture
- Electronics
- Others
By Raw Material [Volume (M lbs) and $M shipment analysis
for 2013 – 2024]:
- Corn Starch
- Sugarcane & Sugar Beet
- Cassava
- Others
By Product Form [Volume (M lbs) and $M
shipment analysis for 2013 – 2024]:
- Film &
Sheets
- Fiber
- Thermoforming
- Coating
- Others
By Region [Volume (M lbs) and $M shipment
analysis for 2013 – 2024]:
·
North America
−
US
−
Canada
−
Mexico
·
Europe
−
Germany
−
United Kingdom
−
France
·
Asia Pacific
−
China
−
Japan
−
India
·
The Rest of the World
−
Central and South America
−
Middle East and Africa
This
242-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel
offerings include chemical
market research reports, chemical
industry analysis report, commercial due diligence
report, business
strategy consulting and market
research reports online.
About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising
potential, high-growth opportunities for the global polylactic acid market by product
type (PLLA, PDLA, and PDLLA), end use (packaging, bio-medical, textile,
agriculture, electronics, and others), raw material (corn starch, sugarcane
& sugar beet, cassava, and others), product form (film & sheet, fiber, thermoforming,
coating, and others), and region (North America, Europe, Asia Pacific, and the
Rest of the World)?
Q. 2 Which segments will grow at a faster pace
and why?
Q.3 Which regions will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are the changing demands of customers
in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10 What are some of the competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via material or product substitution?
Q.11 What M & A activities have taken
place in the last 5 years in this market?
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