Global Poly-lactic Acid (PLA) is expected to rise to an estimated value of USD 4283.25 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing demand for bio-degradable packaging alternatives as well as the growing advancements in technologies increasing the overall demand for bio-plastics.
Poly-lactic acid is a type of renewable plastic sourced from biodegradable raw materials such as corn, sugarcane, sugar beet and cassava. This bioplastic is produced from crystallization of lactic acid found in various plant sources. Poly-lactic acid finds its application in a number of end-use industries such as packaging, cosmetics & personal care, agriculture, textiles, medical, automotive and electronics among others.
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Global poly-lactic acid (PLA) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of poly-lactic acid (PLA) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global polylactic acid (PLA) market are BASF SE; Danimer Scientific; Futerro SA; NatureWorks LLC; Total Corbion PLA; Synbra Technology bv; Hitachi, Ltd.; Sulzer Ltd; TOYOBO CO., LTD.; Mitsubishi Chemical Corporation; Dow; TORAY INDUSTRIES, INC.; weforyou GmbH; Merck KGaA; Musashino Chemical Laboratory, Ltd.; The Chemical Company and Reliance Life Sciences among others.
Segmentation: Poly-lactic Acid (PLA) Market
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