Overview of the global polylactic acid market

Research analysis on the global polylactic acid (PLA) market identifies that the superior and versatile characteristics of PLA will be one of the major factors that will have a positive impact on the growth of the market. Technavio's market research analysts predict that this market will grow at a CAGR of nearly 20% by 2021. PLA is a bioplastic that can be used in many end-user industries due to its versatile characteristics. It is derived from renewable sources such as corn or sugarcane increasing its strength and reducing the dependence on fossil fuels. This material is being increasingly used in many beverages, consumer products, and in packaging applications for food, flexible film packaging, and injection molded products. Moreover, factors such as process ability, renewability, energy saving, and biocompatibility are some of the key characteristics of poly lactic acid that differentiate it from the other polymers.

In terms of geographic regions, Europe will be the major revenue contributor to the PLA market throughout the forecast period. Factors such as market maturation, easy adoption of new production technologies, and high consumer awareness in the region will drive the growth of the market. Also, the presence of various environmental regulations to limit the use of chemical-based products and the increased focus on GHG reductions is expected to boost the demand for the PLA in the European market.

Competitive landscape and key vendors  

The polylactic acid market is characterized by the presence of a large number of small local and regional vendors. These players have a vast geographical presence with huge production facilities located globally. PLA manufacturers are increasingly competing against each other based on operational cost, innovation, price, and product quality.

The leading vendors in the market are ?

• BASF
• Corbion
• NatureWorks
• Synbra Technology bv

The other prominent vendors in the market are Exxon Mobil, The Dow Chemical company, DuPont, Futerro, Galactic, and Henan Jindan Lactic Acid Technology.

Segmentation by product form and analysis of the polylactic acid market

• Coatings
• Films and sheets
• Fibers

During 2016, the films and sheets segment accounted for the major shares of the lactic acid market. However, the coatings product form will lead the market by 2021 due to the factors such as the recyclable and reusable qualities and waterproofing capabilities.                                 

Segmentation by end-user and analysis of the polylactic acid market

• Packaging industry
• Textile industry
• Electronics industry

As per this market research report, the packaging industry will hold the maximum share of the lactic acid market until 2021. The increased usage of PLA, the food and beverage industry, plastic films, mineral water bottles, and dairy packaging will drive the growth of the segment in the global market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global polylactic acid market?
• What are the key market trends impacting the growth of the global polylactic acid market?
• What are the challenges to market growth?
• Who are the key vendors in the global polylactic acid market?
• What are the market opportunities and threats faced by the vendors in the global polylactic acid market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW.
• What are the key outcomes of the five forces analysis of the global polylactic acid market?

Technavio also offers customization on reports based on specific client requirement.

The global polylactic acid market is an upcoming report by Technavio which is a vital part of the chemicals and materials portfolio under the fast-growing subdivision like specialty chemicals. This report aims at evaluating the major trends and market drivers that influence the growth of specialty chemicals industry.

Our market research analysis includes primary and secondary research techniques like telephone and online surveys, vendor briefings, webinars, and podcasts, and industry journals and publications to help clients develop active growth strategies and keep pace with the regularly changing market landscape. Furthermore, Vendors like NatureWorks LLC, Synbra Technology BV, Corbion Purac, Zhejiang Hisun Biomaterials Co., Ltd, and Nantong Jiuding Biological Engineering Co., Ltd are covered under this upcoming industry research report on the global polylactic acid market.

Geographies like the North America, APAC, Europe, and ROW are covered by this report on the global polylactic acid market to offer clients the scope to identify potential market opportunities and expand in niche markets. The upcoming industry report also offers insights into fast-growing segments within the chemicals and materials industry, including sectors like paints, coatings, and pigments and  glass and ceramics. Additionally, this report also presents insights into the varying competitive landscape to give clients a realistic picture of the future direction of the industry.

Our market research methodology for the polylactic acid market

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.