What is Poly Lactic Acid Market?
Polylactic acid (PLA) is a sort of plastic that is used in building models and prototypes of solid objects as well as components. It is also known as polylactide acid. PLA is a thermoplastic polyester that serves as the raw material in 3-D printing or additive manufacturing processes and applications. PLA is primarily created using renewable or green sources such as sugar cane, starch, corn, among others. Polylactic acid can easily be recycled. PLA is used in most additive manufacturing methods that design 3-D models and prototypes through plastic-based materials. In fused deposition modeling technology, the molten polymer filament, which is extruded from the controller nozzle, is polylactic acid (PLA). PLA is a popular and commonly used plastic raw material in 3-D printing, after acrylonitrile butadiene styrene (ABS), which comes in both hard and soft forms.
The market study is being classified, by Application (Packaging, Automotive, Medical, Electronics, Agriculture, Textiles and Others) and major geographies with country level break-up. According to AMA, the Global Poly Lactic Acid market is expected to see growth rate of 20.08% and may see market size of USD2323.46 Million by 2026.
BASF SE (Germany), Bayer (Germany), Corbian N.V. (Netherlands), Danimer Scientific (United States), DowDuPont Inc. (United States), Eastman Chemicals (United States), Futerro S.A. (Belgium), Henen Jindan Lactic Acid Technology (China), Mitsubishi Chemical Corp. (Japan) and Natureworks LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sulzer Ltd. (Switzerland), Synbra (Netherlands), Teijin (Japan) and Wei Mon Industry (Taiwan).
Research Analyst at AMA predicts that United States, German Vendors will contribute to the maximum growth of Global Poly Lactic Acid market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Poly Lactic Acid market by Type, Application and Region.
On the basis of geography, the market of Poly Lactic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Favorable Government Policies Promoting Bio-plastics
- Demand for Bio-plastic Packaging
- Growing Demand for Cellulose Derived Fibers in Textile Industry
Market Trend
- Increases Usage of PLA in Personal Care Products
Restraints
- Price Competitiveness and Availability of Cheaper Alternatives
- Difficulty in Disposal of PLA
Opportunities
- Growing Production of Genetically Modified Corn
- Growing Usage of PLA in 3D Printing
Market Leaders and some development strategies
On 6 Dec 2018, Futerro, Sulzer, and TechnipFMC have teamed up to simplify the manufacture of bioplastics. Three major process technology and equipment specialists, Futerro, Sulzer and TechnipFMC, have formed the PLAnet initiative in equal partnership to promote the production of sustainable plastics made of Poly-Lactic Acid (PLA). The strategic partnership will support manufacturers interested in entering the bioplastic market by delivering integrated PLA technology packages.
On 3 Dec. 2018, Total Corbion PLA, a 50/50 joint venture between Total and Corbion, have announced the start-up of its 75,000 tonnes per year PLA (Poly Lactic Acid) bioplastics plant in Rayong, Thailand. and On 12 Nov. 2018, Omya, a leading chemical company has announced the launch in Europe of Omya Smartfill 55 - OM, a new functionalized Calcium Carbonate for use in biopolymers and in particular Polylactic Acid (PLA).
Key Target Audience
Poly Lactic Acid Manufacturers, Poly Lactic Acid Raw Material Suppliers, Poly Lactic Acid Traders/Distributors, Poly Lactic Acid Importer/Exporter, Government Bodies, Regulatory Bodies and Downstream Vendors