Vancouver, BC -- (SBWIRE) -- 02/09/2021 -- Polylactic Acid Market

The polylactic acid market is set to attain a valuation of USD 5,944.9 Million by 2027, registering a CAGR of 18.5%. Polylactic acid (PLA) is used to manufacture biomedical and clinical devices in bone fixation comprising plates, stents, sutures, screws, and drug delivery systems. It possesses an excellent potential in solving issues in tissue engineering, including tissue damage and organ failure.

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Prominent Players Profiled in the Polylactic Acid Market:

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

Market Drivers

The major driving force for the development of the polylactic acid market is the rising demand for polylactic acid in the packaging sector, increasing preference for bio-plastics, surging demand for bio-polylactic acid in additive manufacturing, government initiatives, and increasing investment in research activities. The market for polylactic acid (PLA), a bioplastic, is expected to experience rapid growth in its widespread application in textile, transport, packaging, agriculture, medical, and electronics.

Growing efforts in the plastic industry targeted towards the more use of bio-sourced polylactic acid fiber owing to its properties like breathability, lower weight, and recyclability, among others, would increase the market demand in textile applications.

Additionally, polylactic acid (PLA) is appropriate for 3D printing, where importance is given to the visual appeal. Because of its low printing temperature, it allows printing with smooth finishing.

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)
Online
Offline

Application Outlook (Revenue, USD Billion; 2017-2027)
Packaging
Textile
Transport
Agriculture
Electronics
Medical
Others

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Overview of the TOC of the Report:

Introduction, Scope, and Overview
Opportunities, Risks, and Drivers
Competition landscape analysis with sales, revenue, and price
Extensive Profiling of the key competitors with the sales figures, revenue, and market share
Regional analysis with sales, revenue, and market share for each region for the forecast period
Country-wise analysis of the Polylactic Acid market by type, application, and manufacturers
Market Segmentation based on types
Market segmentation based on applications
Historical and forecast estimation and other chapters.

Regional Analysis

In 2019, the North America polylactic acid market accounted for 37.0% market share over the forecast period. This is due to the increasing demand for polylactic acid (PLA) bioplastics from several end-use industries such as textile, transport, electronics, packaging, agriculture, medical, and others. The region is expected to experience high investments in R&D and the rising production of bioplastics with producers to cater to the rising demand of consumers.

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