Global Polylactic Acid Market Analysis, 2024-2030

Polylactic acid is basically a biodegradable and bioactive thermoplastic which has been derived from renewable resources. It is much more different than most of the thermoplastics polymers because it is derived from renewable resources like sugar cane or from corn-starch. These are bio-degradable in nature and have a vast array of applications across various categories.

Polylactic acids are used for making different types of plastic films, bottles and bio-degradable medical devices of almost every kind available in the market. They can be used to make wires as well. Many industries use polylactic acids to make medical screws for medicinal purpose as they pose no threat to humans when placed internally.

The report on global polylactic acid market represent insight on current market scenario by conducting more than 320 hours of secondary and primary research. As per the report, the share of global polylactic acids market was calculated at US $ xxx billion for 2018; the said share is estimated to grow at a rate of xxx%. It is pegged to reach the market value of US $ xxx billion by 2022.

US, Netherlands, China, Belgium, Hong Kong, Taiwan, Malaysia, Italy and India are some of the major exporters of polylactic acids all over the world, and on the other hand, Germany, South Korea, Canada are some of the major importers of the polylactic acids.

Production of PLA depends on renewable resources. The number of fields present today is not enough to produce enough resources on which PLA can be produced for the world as the population is still growing. PLA is needed to send to a commercial composting pile as they will not break down into natural elements in your backyard. If PLA is disposed improperly, then they might contaminate the recycling processes.

In India, US, Netherlands and Belgium there are enough natural resources to continue the production of PLA as these regions have enough natural resource for PLA production and on the other hand China, South Korea and Italy are some countries where the production of PLA can be a bit hard because there are not enough natural resources for the same.

NatureWorks, BASF, Radici Group, SL CHEMICALS, Synbra and Sulzer are some of the key companies in the global market of polylactic acids.

Our Approach

The research process begins with the bifurcation of different market segments of global polylactic acid market, followed by identification of factors affecting the growth each segment. Then, the market forecasts were built based on the input shared by the business leaders across polylactic acid industry value chain. Market Krystal have conducted more than 45 interviews for this study, details of which are mentioned below:

By company type:

Manufacturers (35%), Suppliers (20%), Consumers (25%), Researchers (11%), Independent industry consultant (10%)

By geography:

North America (35%), Asia (40%), Europe (25%)

By designation:

Top level (40%), Operation level (30%), Mid-level (30%)

Contents of the report:

• Insight on the polylactic acid industry dynamics
• Estimation of the current global polylactic acid market size in terms of value and volume
• Global polylactic acid market breakup based on application (packaging, bio-medical, agriculture, electronics, textiles) and geography (North America, Europe, Asia-Pacific, Middle-East, Africa, Latin America)
• Substantiated global polylactic acid market forecast for the next five years
• Detailed analysis of the key companies operating across different nodes of polylactic acid industry value chain