Global Polylactic Acid (PLA) Market 2015-2019
PLA is a lactic acid-based polymer and is biodegradable in nature. It is made from raw materials including corn, wheat, sugar cane, dextrose, lactic acid, and others. Basic raw materials are fermented to produce lactic acid, which is the key agent for developing PLA. The unique properties such as rigidity and transparency, and features similar to PET makes the material a potential substitute to petroleum-based plastics. The applications of PLA are mainly in the following industries: Biodegradable Polymers, Food and Beverages, Medical and Pharmaceuticals, and Personal Care.
TechNavio's analysts forecast the Global PLA market to grow at a CAGR of 19.97 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global PLA market for the period 2015-2019. The report provides data on the market based on the following:
TechNavio Announces the Publication of its Research Report – Global PLA Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global PLA Market: BASF SE, Galactic SA, NatureWorks LLC, Purac biochem BV, Pyramid Bioplastics Guben GmbH and Synbra BV.
Other Prominent Vendors in the market are: Bayer, Cargil, Danimer Scientific, E.I du Pont de Nemours, Eastman Chemicals, ExxonMobil, Futerro, Galactic SA, Henan Jindan Lactic Acid Technology, Mitsubishi Chemicals, Phusis, PTT Chemicals, Purac Biochem, Sulzer Chemtec, Synbra BV, Teijin, The Dow Chemicals, Uhde Inventa-Fischer and Wei Mon Industry.
Commenting on the report, an analyst from TechNavio’s team said: “Production of Polylactic Acid (PLA) from lignocellulose feedstock is one of the major trends in the market, which offers a cost-effective and sustainable means of PLA production. Advances in technology and increased spending on R&D will facilitate market players to leverage this option.”
According to the report, one of the major drivers that is expected to influence the market is the increased consumer preferences towards eco-friendly packaging. With growing consumer awareness, more and more retail outlets have started adopting biodegradable materials for packaging.
Further, the report states that high production costs will prove to be a major challenge, as crude oil-based polymers are less expensive when compared to PLA. Higher cost of raw materials and restricted availability of feedstock along with higher production costs of PLA is expected to hamper the market growth.
BASF, Braschem, Eastman Chemicals, Natureworks, Nova Chemicals, Sinopec , Bayer, Cargil, Danimer Scientific , E.I du Pont de Nemours , ExxonMobil, Futerro, Galactic, Henan Jindan Lactic Acid Technology, Mitsubishi Chemical, Phusis, PTTChemicals, Purac Biochem, Sulzer Chemtec, Synbra , Teijin , The Dow Chemical, Uhde Inventa-Fischer, Wei Mon Industry
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