Polylactic Acid (PLA) Market Size Worth USD 13,891.09 Million by 2032 | Emergen Research

Vancouver, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The global Polylactic Acid (PLA) Market is projected to be worth USD 13,891.09 Million by 2032, according to a new report by Emergen Research. The market for polylactic acid (PLA), a bioplastic, is experiencing rapid growth attributed to its widespread application in packaging, textile, transport, agriculture, medical, and electronics, among others. Besides, supportive government initiatives and offering subsidies to promote the growth of bioplastics are driving the growth of the market. In 2018, the Japanese Ministry of Environment made an announcement for the inclusion of USD 45.0 million/JPY 5.0 Billion in the FY2019 budget for developing products manufactured from bio-plastics and provide subsidies to firms that make paper substitutes to plastic.

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The increasing demand for polylactic acid (PLA) in the packaging sector is one of the significant factors influencing the market growth.  It finds usage in numerous purposes comprising deli/ delicatessen and takeout containers, straws, cold drink cups, and cutlery, among others. Polylactic acid (PLA) is widely deployed for packaging applications attributed to its physical and mechanical characteristics. Commercially polylactic acid (PLA) packages possess features similar to Polyethylene terephthalate (PET) and offer improved mechanical features than polystyrene (PS). Recently, polylactic acid (PLA) finds application in food packaging for products, including fruit and vegetables, which have short shelf-life.

Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The leading players in the polylactic acid (PLA) market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the polylactic acid (PLA) market include:

• Teijin Ltd.
• Thyssenkrupp AG
• Synbra Technology BV
• Hitachi Ltd.
• BASF SE
• Futerro
• Sulzer Ltd.
• NatureWorks LLC
• Zheijiang Hisun Biomaterials Co., Ltd.
• Total Corbion PLA

In February 2018, Teijin Ltd. made an announcement about the development of a formable film, which is resistant to gasoline and produced from PLA NEXT® bio-plastic to substitute chrome plating, adopted by Honda Lock Mfg. Co., Ltd. for use in the nonconductive door handles having smart-entry systems.

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Key Highlights from The Report

• Production of polylactic acid (PLA) consumes about 35.0% of energy than required for conventional plastics and causes 68.0% fewer GHG emissions.  Besides, on incineration, it does not produce toxic volatile organic compounds (VOCs).
• Poly-L-lactic acid possesses a much slower absorption rate compared to PGA in orthopedic implants. The L (Levo) form of this bioplastic is highly crystalline, takes as much as 5 to 7 years for absorption.
• Fabrics produced from polylactic acid (PLA) fibers possess a better fire-resistant property and are appropriate to cater to the fire safety standards required for textiles deployed in public occupancy buildings’ interior furnishings. Typical textile products comprise cubicle curtains, drapery, wall coverings, and outdoor coverings like tents and tarpaulins.
• The polylactic acid (PLA) market in the Asia Pacific region, led by China, is estimated to grow at the fastest rate of 19.7% in the forecast period, due to the spiraling consumption of bio-polylactic acid in the packaging and medical applications, which are being boosted by the demand in emerging economies in the region.
• NatureWorks LLC, a leading market player, manufactures Ingeo, its polylactic acid (PLA) bioplastic, from dextrose sugar extracted from the starch present in corn, cultivated for many functional and industrial applications.

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Emergen Research has segmented the global polylactic acid (PLA) on the basis of product type, distribution channel, application, and region:

• Product Type Outlook (Revenue, USD Billion; 2017-2032)
  • 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; 2017-2032)
  • Online
  • Offline
• Application Outlook (Revenue, USD Billion; 2017-2032)
  • Packaging
  • Textile
  • Transport
  • Agriculture
  • Electronics
  • Medical
  • Others
• Regional Outlook (Revenue, USD Billion; 2017-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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