DUBLIN, Nov. 24, 2020 /PRNewswire/ -- The "Polylactic Acid Market Size, Share & Trends Analysis Report by End-use (Packaging, Agriculture, Automotive & Transport, Electronics, Textile), by Region, and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global polylactic acid market size is anticipated to reach USD 1.5 billion by 2027, expanding at a CAGR of 15.9% from 2020 to 2027.
Changing lifestyle preferences of consumers, modern retail trades, and the increasing popularity of quick-service restaurants are prominently fueling the growth of flexible packaging. The growing flexible packaging industry is expected to create significant demand for polylactic acid (PLA) during the forecast period.
Polylactic acid is majorly utilized to produce microwaveable containers, including food containers and disposable cutlery. Multiple beneficial properties, including resistance to grease and oil, improved aesthetic appeal, and better printability, are positively impacting the demand for PLA in the formulation of food packaging products across the globe.
In the textile industry, polylactic acid is extruded into fibers, which are then used to manufacture various products, including upholstery material, casual and sports apparel, and diapers. Furthermore, rising demand for protective apparel and equipment due to the outbreak of COVID-19 is anticipated to fuel the demand for PLA in the textile and medical end-use segments.
Polylactic acid is manufactured from renewable sources, and hence it is biodegradable. PLA offers properties, which are at par or better than conventionally produced plastics. Growing awareness among the consumers regarding the need for recyclability, sustainability, and green packaging solutions is expected to drive the global PLA demand over the forecast period. Packaging products based on bioplastics, which includes rigid packaging and flexible packaging, has witnessed regulatory support owing to the reduction in greenhouse gas (GHG) emissions.
Polylactic Acid Market Report Highlights
- The packaging was the largest end-use segment in 2019. Food packaging is the major factor driving the demand for PLA in the packaging industry. Polylactic acid is widely utilized for fresh food packaging and manufacturing bottles, jars, and containers
- The textiles end-use segment is expected to emerge as the fastest-growing segment in the forecast period owing to increasing demand for polylactic acid in filaments and fibers for textiles and nonwovens
- As of 2019, North America accounted for more than 40.0% share of the overall revenue. Increasing demand for 3D printing filaments and the availability of raw materials are assisting the market growth in the region.
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 Information Procurement
1.4 Information Analysis
1.5 Market Formulation and Data Visualization
1.6 List Of Data Sources
1.7 List Of Abbreviations
Chapter 2 Executive Summary
2.1 Market Summary
2.2 Market Segmentation
Chapter 3 Polylactic Acid Market Variables, Trends & Scope
3.1 Penetration & Growth Prospect Mapping
3.2 Value Chain Analysis
3.3 Raw Material Trend
3.3.1 Comparative Analysis of Key Raw Materials
3.3.2 South-East Asia Analysis on Key Raw Materials
3.3.3 Philippines Analysis on Key Raw Materials
3.4 Price Trend Analysis, 2016-2027
3.4.1 Major Factors Influencing Prices
3.4.2 Price Trend PLA Vs Lactic Acid
3.4.3 Regulatory Framework
188.8.131.52 U.S. FDA
3.4.4 EU Commission
3.4.5 Regulations For Bioplastics in the Flexible Packaging Market
3.4.6 Asia Pacific Regulatory Framework
184.108.40.206 Australia & New Zealand
3.4.7 Patent Analysis
3.5 Market Dynamics
3.5.1 Market Driver Analysis
220.127.116.11 Growing Demand For Bioplastics
18.104.22.168 Growing Demand From Flexible Packaging Industry
3.5.2 Market Restraint Analysis
22.214.171.124 Price Competitiveness
3.6 Market Opportunity Analysis
3.7 Business Environment Analysis: Polylactic Acid Market
3.7.1 Porter's Five Forces Analysis
3.7.2 Pestel Analysis
Chapter 4 Polylactic Acid Market: End-Use Estimates & Trend Analysis
4.1 Polylactic Acid Market: End-use Movement Analysis, 2019 & 2027
4.2.1 Polylactic Acid Market Estimates and Forecasts, in Packaging, 2016-2027 (Tons) (USD Thousand)
4.4 Automotive & Transport
Chapter 5 Polylactic Acid Market: Regional Estimates & Trend Analysis
5.1 Polylactic Acid Market: Regional Movement Analysis, 2019 & 2027
Chapter 6 Competitive Landscape
6.1 Key Global Players & Recent Developments & Their Impact On The Industry
6.2 Key Company/Competition Categorization
6.3 Vendor Landscape
6.4 Prominent Companies Competition Dashboard Analysis
6.5 Production Capacity Analysis By Manufacturer, 2019
6.6 Availability Of Alternatives Feedstocks (Cellulosic Raw Materials)
Chapter 7 Company Profiles
- Total Corbion PLA
- Natureworks Llc
- Supla(Jiangsu Supla Bioplastics Co., Ltd.)
- Jiangxi Keyuan Bio-Material Co., Ltd.
- Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.
- Zhejiang Hisun Biomaterials Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/unyzci
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-1-5-billion-polylactic-acid-market-to-2027---growing-demand-for-bioplastics-and-from-the-flexible-packaging-industry-301179650.html
SOURCE Research and Markets