Market Overview: Global Polylactic Acid Market
MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Polylactic Acid Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Polylactic Acid Market Insights 2024-30
The Global Polylactic Acid Market was valued at USD 98.5 Million in 2022 and it is estimated to grow at a CAGR of about 15.5% during the forecast period, i.e., 2024-30.
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Top Players in the Polylactic Acid Market:
- Total Corbion PLA
- Nature Works LLC
- COFCO
- Futerro
- Jiangxi Keyuan Bio-Material Co., Ltd.
- Zhejiang Hisun Biomaterials Co., Ltd.
- Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.
- Sulzer Ltd
- BASF SE
- Danimer Scientific
- Toray Industries, INC
- Evonik Industries
- Unitika Ltd.
- Mitsubishi Chemicals
- Others
Segmentation Analysis of Polylactic Acid Market
Polylactic Acid Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Application
- Packaging
- Textiles
- Agriculture
- Electronics
- Consumer Goods
- Others (Medical, Automotive, etc.)
Among them, Electronics is anticipated to register a substantial growth rate, driven by the surging initiatives of global economies to use sustainable plastics in the manufacturing of electronic products. This is majorly attributed to the surging problems of e-waste which is leading to environmental degradation and posing a risk to biodiversity globally. According to the United National E-waste Monitor, over 53.6 million metric tonnes of electronic waste was generated globally in 2019. This number is expected to rise by over 74.7 million metric tonnes by 2030. This is leading to a series of concerns among the nations worldwide to deal with the surging e-waste sustainably. Although the government of various economies is focussing on refurbishing and reusing electronics, the problem related to environmental degradation still persists. This in turn is creating substantial opportunities to drive up the demand for Polylactic Acid Market from Electronic manufacturers in the forecast years.
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-By Product Form
- Films and Sheets- Market Size & Forecast 2019-2030, USD Million
- Pellets- Market Size & Forecast 2019-2030, USD Million
- Fibers- Market Size & Forecast 2019-2030, USD Million
- Others (Filaments, Granules, etc.) – Market Size & Forecast 2019-2030, USD Million
-By End Users
- Packaging- Market Size & Forecast 2019-2030, USD Million
- Textiles – Market Size & Forecast 2019-2030, USD Million
- Agriculture- Market Size & Forecast 2019-2030, USD Million
- Electronics- Market Size & Forecast 2019-2030, USD Million
- Consumer Goods- Market Size & Forecast 2019-2030, USD Million
- Others (Medical, Automotive, etc.) – Market Size & Forecast 2019-2030, USD Million
A Comprehensive Geographical Analysis:
-By Region
- North
- South
- Central
Among them, Asia Pacific is witnessing a substantial growth rate in the Global Polylactic Acid Market driven by the surging investments in packaging, electronic manufacturing, healthcare manufacturing, etc., by domestic as well as international firms. This is more prominent across India, as the country is rapidly developing and adopting the use of technologically advanced solutions to hold a key position among the global nations. Thus, various programs have been announced by the Indian government such as the Atmanirbhar Bharat Plan, which includes the promotion of FDI in manufacturing industries. Thus, various international firms, such as Corona, a global beer Brand, Apple, etc., are expanding their manufacturing presence in the country.
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