May 21, 2024

Polylactic Acid Market Size to Hit Around US$ 2466.49 million by 2030

Precedence Research a new report on polylactic acid Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future. The global polylactic acid market size was valued at US$ 573.69 million in 2020. The global polylactic acid market is projected to reach US$ 2466.49 million by 2030, registering a compound annual growth rate (CAGR) of 15.9% during the forecast period from 2022 to 2030.

Polylactic Acid Market Size 2017-2030

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Polylactic Acid market Growth Factors:

Increasing focus and initiatives of governments across the globe for the production and use of biodegradable products is major factor driving growth of the global polylactic acid market. Additionally, governments of developed as well as emerging economies are providing subsidies for the production of the polylactic acid which is expected to fuel growth of the target industry in the near future. Moreover, increasing preferences for the bioplastic over conventional plastic by the stakeholders on account of environmental safety and pollution control is among major factors propelling growth of the global market over the forecast period.

Furthermore, growing demand for the polylactic acid from cosmetic industry for the manufacturing of personal care products such as shampoos, creams and others anticipated to support the target market growth in the next few years. Raw materials used for the production of PLA are easily available worldwide which is further expected to augment global polylactic acid industry growth in the coming years. Growing awareness among the consumers regarding green packaging, sustainability as well as recyclability are likely to boost the target market growth in future. Nevertheless, emerging applications of polylactic acid is anticipated to create potential opportunities for the growth of the target market.

Polylactic Acid Market Report Scope 
Report Highlights Details
Market Size US$ 2466.49 million by 2030
Growth Rate CAGR of 15.9% from 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Raw Material, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

The global polylactic acid market report offers various segments analysis by size, trends, growth factors, opportunities and key country outlook to 2027. The report offers a detailed analysis and information as per polylactic acid, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.

The company profiling of leading market players is included this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.

polylactic acid Market Report Highlights
  • Among the raw material segment, cornstarch segment is dominated the overall market. The sugarcane and sugar beet raw material segment is expected to grow at a significant CAGR during the forecast time-frame.
  • Among the application type, packaging segment accounted for the largest revenue with significant share of around 35% in 2020. This is growth is due to the increasing demand for the packaging from food and beverage industry and cosmetic industries across the globe. Automotive and transport are expected to grow at a significant CAGR during the forecast time-frame.
  • NatureWorks LLC, accounted for a significant share of the global polylactic acids market.

Read Also@ Low Melting Fiber Market: Trends, Growth, Size, Opportunity Assessment by Forecast to 2030

Some of the prominent players in the polylactic acid market include:
  • NatureWorks LLC
  • Corbion Purac
  • Chongqing bofei biochemical products co., ltd.
  • Synbra
  • Futerro
  • Nantong Jiuding Biological Engineering Co. Ltd
  • Hisun Biomaterials
Polylactic Acid market Segmentation

By Raw Material

  • Corn starch
  • Sugarcane & sugar beet
  • Cassava
  • Others

By Application

  • Packaging
  • Agriculture
  • Transport
  • Electronics
  • Textiles
  • Others

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Key Questions are

  • What are the key factors influencing the polylactic acid market in each region?
  • How much value will the global market generate by the end of the forecast period?
  • What will be the CAGR of the global market between 2021 and 2030?
  • What would be the Y-o-Y growth trend of the global market between 2021 and 2030?
  • What is the future scope and current trends in technologies of the global market?
  • What is the revenue of the global market based on segments?
  • Which key strategies are used by top players of the global market?
  • Which are the leading companies in the global market?
  • What are the essential strategies by key stakeholders in the market to expand their geographic presence?
  • What are the major advancements witnessed in the global market?

Research Objectives and Research Approach

The comprehensive report on the global polylactic acid market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products. Following this, the report provides detailed explanation of objectives of this study and laid down by accredited agencies in the purview of research in the global polylactic acid market.

It is followed by market introduction, market dynamics, and an overview of the global market, which includes analysis of market drivers, restraints, and trends pertaining to the global market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global polylactic acid market in terms of type, application, region and others. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2027 has also been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global market.

Why should you invest in this report?

If you are aiming to enter the global polylactic acid market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for polylactic acid are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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From gauging investment feasibility to uncovering hidden growth opportunities, our market studies cover in-depth analysis, which also is interspersed with relevant statistics. Recommendation are often enclosed within our reports with the sole intent of enabling organizations achieve mission-critical success.

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