Key Findings
The global polylactic acid market is projected to register a CAGR of 12.20% in terms of revenue, and 14.12% in terms of volume during the forecast period, 2019-2028. The factors fueling global market growth are fluctuating petroleum prices and lack of resources, favorable government support, growing environmental concerns, and rising demand from developing countries.

Market Insights
Polylactic acid (PLA) is a synthetic biodegradable polymer derived from natural sources such as wheat, corn, and sugar beets. Polymers have been in use since ancient times. Natural rubber came in use from 1495. PLA is utilized in the food industry for packaging sensitive food products. However, it needs to be strengthened with additives as it is too fragile. The surging petroleum prices are encouraging people to shift to affordable and environment-friendly forms of the polymer. People are switching to bioplastics made from polylactic acid, thereby driving the sustainable market growth.
PLA is expected to have lesser performance compared to conventional plastics such as hydrocarbon-based polymers, which is a restraining factor for market growth. There are a few companies actively manufacturing PLA. The majority of the players are involved in R&D activities to gain a competitive advantage in the market. Corn is the raw material used in the production of PLA with the highest growth rate.

Regional Insights
The analysis of the global polylactic acid market is based on the geographical segmentation of the regions of North America, Europe, Asia Pacific, and the Rest of the World. As of 2019, North America is expected to capture the largest revenue share owing to growth in the food & beverage market, and the development of healthcare infrastructure.

Competitive Insights
The manufacturing companies operating in the market are concentrating on developing inexpensive methods of producing PLA. Some of the existing players competing to increase their market share in the global market are Mitsubishi Chemical Corporation, NatureWorks LLC, Futerro SA, BASF, Innovia Films, etc.
Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments