The increasing demand for polylactic acid (PLA) in the packaging sector is one of the significant factors influencing the market growth.
VANCOUVER, BC, CANADA, November 12, 2021 /EINPresswire.com/ — 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.
The report projects the market is anticipated to grow at a significant rate owing to raid advancements and technological developments in the sector. The report offers strategic recommendations to the businesses and investors to capitalize on the lucrative growth opportunities. The report further provides a comprehensive analysis of the competitive landscape and provides complete coverage with regard to company profiles, product portfolio, revenue generation, financial standing, and market position. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others.
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Key Highlights From The Report
In February 2018, Teijin Ltd. made an announcement about the development of a formable film, which is resistant to gasoline and produced from PLA NEXT® bio-plastic to substitute chrome plating, adopted by Honda Lock Mfg. Co., Ltd. for use in the nonconductive door handles having smart-entry systems.
Production of polylactic acid (PLA) consumes about 35.0% of energy than required for conventional plastics and causes 68.0% fewer GHG emissions. Besides, on incineration, it does not produce toxic volatile organic compounds (VOCs).
Poly-L-lactic acid possesses a much slower absorption rate compared to PGA in orthopedic implants. The L (Levo) form of this bioplastic is highly crystalline, takes as much as 5 to 7 years for absorption.
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.
Top Companies Operating in the polylactic acid (PLA) Market and Profiled in the Report are:
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.
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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)
Application Outlook (Revenue, USD Billion; 2017-2027)
polylactic acid (PLA) Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The latest report on the global polylactic acid (PLA) market offers strategic insights into the market landscape to stakeholders, investors, and business owners to help them make efficient and lucrative business decisions based on key statistical data and facts. The report aims to offers a thorough outlook of the polylactic acid (PLA) market based on various key elements, such as market drivers, limitations, threats, restraining factors, and growth prospects. The report aims to deliver a comprehensive understanding of the polylactic acid (PLA) market growth and expansion in each key region of the world. It offers accurate estimations about the expected market size and growth over the projected timeline of 2020-2027.
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Polylactic Acid (PLA) Market Segmentation & Impact Analysis
4.1. Polylactic Acid (PLA) Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Increasing demand for polylactic acid in the packaging sector
188.8.131.52. Surging demand for bio-polylactic acid in additive manufacturing
184.108.40.206. Growing preference for bio-plastics
220.127.116.11. Supportive government initiatives
18.104.22.168. Increased investment in R&D
4.2.3. Market restraints analysis
22.214.171.124. Availability of substitutes
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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Objectives of the Report:
Study of the global polylactic acid (PLA) market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
Industrial structure analysis of the polylactic acid (PLA) market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of polylactic acid (PLA) market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global polylactic acid (PLA) market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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