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 decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $5.4 billion by 2025 with a CAGR of 21% to 23% from 2020 to 2025. The major growth drivers for this market are increasing government regulation, environment friendly and better mechanical properties as compared to other biopolymers.
Browse 134 market data tables and 171 figures spread through 242 pages and in-depth TOC on “Global Polylactic Acid Market"
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In this market, different types of polylactic acid such as PLLA, PDLA, and PDLLA are used as product type. 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 polylactic acid 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 polylactic acid manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global polylactic acid market by product type, end use, raw material, product form, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Polylactic Acid Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a 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 2014 – 2025]:
Poly(L-lactic) Acid
Poly(D-lactic) Acid
Poly(DL-lactic) Acid
By End Use [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
Packaging
Bio-medical
Textile
Agriculture
Electronics
Others
By Raw Material [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
Corn Starch
Sugarcane & Sugar Beet
Cassava
Others
By Product Form [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
Film & Sheets
Fiber
Thermoforming
Coating
Others
By Region [Volume (Kilotons) and $M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Asia Pacific
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 click on this link https://www.lucintel.com/polylactic-acid-market.aspx or helpdesk@lucintel.com.
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.