Polylactic Acid Market By Growth Analysis and Precise Outlook – 2027 | Key Players – Teijin Ltd., Thyssenkrupp AG
Rising demand for polylactic acid (PLA) in the packaging industry is one of the important factors influencing the growth of the market.
— Emerging research
VANCOUVER, BC, CANADA, July 25, 2022 /EINPresswire.com/ — The global polylactic acid (PLA) market is expected to reach $5,944.9 million by 2027, according to a new report from Emergen Research. The market for polylactic acid (PLA), a bioplastic, is witnessing rapid growth attributed to its widespread application in packaging, textiles, transportation, agriculture, medical, and electronics, among others. Additionally, supporting government initiatives and offering of subsidies to promote the growth of bioplastics is driving the growth of the market. In 2018, the Japanese Ministry of Environment announced the inclusion of USD 45.0 million/JPY 5.0 billion in the fiscal year 2019 budget for the development of products made from bioplastics and the granting of subsidies to companies that manufacture paper substitutes for plastic.
Rising demand for polylactic acid (PLA) in the packaging industry is one of the important factors influencing the growth of the market. It finds use in many uses, including deli/deli and take-out containers, straws, cold drink cups, and cutlery, among others. Polylactic acid (PLA) is widely used for packaging applications due to its physical and mechanical characteristics.
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The main objective of the report is to offer market overview, product scope, growth prospects and risks. The report also offers in-depth information about each global market player polylactic acid market as well as its global position, financial condition, product launch, business expansion plans, among others. Market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Companies featured in the Global Polylactic Acid Market:
Synbra Technology BV,
Hitachi Ltd., BASF SE,
Futerro, Sulzer Ltd.,
Zheijiang Hisun Biomaterials Co., Ltd., and
Total Corbion PLA, among others.
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In February 2018, Teijin Ltd. announced the development of a formable, gasoline-resistant film produced from PLA NEXT® bioplastic to replace chrome plating, adopted by Honda Lock Mfg. Co., Ltd. for use in non-conductive door handles with intelligent entry systems.
Producing polylactic acid (PLA) consumes approximately 35.0% energy compared to conventional plastics and causes 68.0% fewer GHG emissions. In addition, during incineration, it does not produce toxic volatile organic compounds (VOCs).
Poly-L-lactic acid has a much slower absorption rate than PGA in orthopedic implants. The L (Levo) form of this bioplastic is highly crystalline and takes up to 5-7 years to absorb.
Emergen Research has segmented the global polylactic acid (PLA) based on product type, distribution channel, application, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Racemic PLLA (poly-L-lactic acid)
Regular PLLA (poly-L-lactic acid)
PDLA (poly-D-lactic acid)
PDLLA (poly-DL-lactic acid)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
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The report further examines the market in key regions of the world with respect to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of leading players in the regions. The report also covers the expansion plans undertaken by the companies in the regions under the regional analysis section.
Key market regions include:
Rest of EU
Rest of APAC
Rest of Latin America
Middle East and Africa
United Arab Emirates
Rest of MEA
Key questions addressed in the report:
Who are the major players in the Polylactic Acid industry?
Which region is expected to dominate the market in the coming years?
What are the main applications of polylactic acid?
Which segment is expected to gain ground in the coming years?
What are the main strategies adopted by the main players in the market?
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