Growing environmental awareness, Rising crude oil prices and demand for green packaging products are the key factors driving the Global Polylactic Acid Market.
“Global Polylactic Acid Market by Application (Packaging, Fibers, Injection Molding, Others), by Geography (North America, Europe, Asia-Pacific, RoW) – Analysis and Forecast to 2019”
Polylactic acid, commonly referred to as PLA, is renewable thermoplastic polyester derived from corn starch, sugarcane and tapioca roots in various parts of the world. PLA represents the largest application segment for lactic acid. Poly lactic acid (PLA) is a biodegradable chemical derived from high quality lactic acid (pure or refined lactic acid) which acts like a major sources of bio-resins use in bioplastics. The various application market of poly lactic acid (PLA) based plastic include, food and beverages packaging, consumer goods packaging, automobiles, agriculture, electronics, and textiles.
Biodegradable polymers market is one of the fasted growing markets of lactic acid which is helping the growth of poly lactic acid (PLA) market. Growing environmental concerns and government regulations is further assisting in adoption of PLA by end users of final products as well as manufacturers in industries such as textile, packaging, transportation, electronics, etc.
Strengthening of PLA with other materials creates huge opportunities for future. As natural fibers are low cost and degradable, it’s reinforcement with PLA leads to a material which is economical as well as ecological. New technologies are used to support fiber in PLA so as to give it more strength and stiffness as well as many other features suitable for specific applications.
In-depth profiling of the key players have been conducted, along with the recent developments (including new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the Polylactic acid market.
Some of the key players in this market are BASF SE, Danimer Scientific LLC., Henan Jindan Lactic Acid Technology Co., Ltd., Synbra Technology B.V., The Dow Chemical Company, Corbion Purac, Galactic S.A., Natureworks LLC., Teijin Ltd., and Wei Mon Industry Co., Ltd.