June 27, 2022 08:26 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, June 27, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Polylactic Acid Market finds that Polylactic Acid Market is one of the first renewable polymers to grapple with present polymers by amalgamating functional qualities, such as gloss, rigidity, and transparency. It also provides various beneficial properties, such as aesthetic appeal, resistance to grease & oil, better printability, and others. Thus, the presence of potential properties of Polylactic Acid Market is the main reason for the growth of the Polylactic Acid Market. In addition, a rise in demand from multiple end-use industries such as transport, packaging, agriculture, and textiles is accelerating the growth of the Polylactic Acid Market in the coming years.
The Global Market revenue stood at a value USD 925.1 Million in the year 2021.
The Global Polylactic Acid Market size is forecasted to reach USD 1334.7 Million by the year 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period; states Vantage Market Research, in a report, titled “Polylactic Acid Market Size, Share & Trends Analysis Report by Grades (Thermoforming Grade, Injection Molding Grade, Extrusion Grade, Blow Molding Grade), by Applications (Rigid Thermoforms, Films & Sheets, Bottles), by End-Use Industry (Packaging, Consumer goods, Agricultural, Textile), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Please Check Out Our Free Sample Reports and Make a More Informed Decision:
Get Access to a Free Copy of Our Latest Sample Report @ https://www.vantagemarketresearch.com/polylactic-acid-market-1679/request-sample
(Sample reports are a great way to test our in-depth reports or study before you make a purchase)
Increasing Trend of Using Eco-Friendly Plastic Products to Drive the Market Growth
Nowadays, the awareness of sustainable plastic solutions is increasing rapidly. Thus, many consumers started minimizing the use of non-biodegradable conventional plastics, which in turn, is expected to fuel the growth of the Polylactic Acid Market in recent days. In addition, petroleum-based plastics cannot be degraded properly and lay in landfills for a long period. On the other hand, PLA degrades faster than conventional ones and is absorbed back into the natural system. As a result of this, multiple industries started using biodegradable products in their daily activities and many leading players are promoting environmentally friendly products in the market. Thus, all these factors are accounted for the notable growth of the Polylactic Acid Market. Furthermore, governments across the world have imposed strict regulations on environmental safety, which is further likely to impel the growth of the Polylactic Acid Market in recent days.
High Cost of PLA than Conventional Plastic Hampers the Market Growth
The production cost of PLA is less minimal than conventional plastic materials. But petrochemical plastic has been commercialized in the market for more than 50 years whereas bio-based materials are still in the development stage. Thus, the cost of the final product is more compared to traditional polymers. In addition, Research and Development (R&D) and production costs of PLA are high because these products come under small-scale production, which in turn, is expected to hinder the growth of the Polylactic Acid Market in projected years.
Key Insights & Findings from the Report:
Purchase This Premium Report (Price 4500 USD for a single-user license) at @ https://www.vantagemarketresearch.com/buy-now/polylactic-acid-market-1679/0
Benefits of Purchasing Polylactic Acid Market Reports:
Segmentation of the Global Polylactic Acid Market:
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/polylactic-acid-market-1679
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the chemical industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
The Report on Polylactic Acid Market Highlights:
Asia Pacific Anticipated Maximum Market Growth
Asia Pacific is accounted to grow at a maximum Compound Annual Growth Rate (CAGR) during the forecast period. This surge is attributed to the rising demand for the PLA from developing countries, fluctuating petroleum prices, and a lack of resources for fossil fuels. In addition, increasing demand from key industries such as appliances, electronics, textiles, medical, packaging, and automobile & transport is a key driving factor in the growth of the Polylactic Acid Market in this region. Furthermore, increasing demand from the food & beverage sector, growing demand from the packaged food industry, and increasing disposable income are some factors that influence the maximum growth of the Polylactic Acid Market in this region.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "Polylactic Acid Market Size, Share & Trends Analysis Report by Grades (Thermoforming Grade, Injection Molding Grade, Extrusion Grade, Blow Molding Grade), by Applications (Rigid Thermoforms, Films & Sheets, Bottles), by End-Use Industry (Packaging, Consumer goods, Agricultural, Textile), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
List of Prominent Players in the Polylactic Acid Market:
October 2021: Total Corbion PLA developed a recycled PLA range under the brand name Luminy PLA. This product is produced from post-industrial and post-consumer PLA waste. The new product is a chemically recycled product with similar characteristics as the existing Luminy PLA product.
April 2021: Nature Works LLC introduced a new PLA grade Ingeo 3D700. The new material is ideal for large-format additive manufacturing, along with the reduction in warping and print failures. Ingeo 3D700 is specially developed for 3D printing, having performance characteristics such as low odor while printing, reduced warping or curling, precise detail, and good adhesion.
Key questions answered in the report:
This market titled “Polylactic Acid Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
Download Free Sample Report Now @ https://www.vantagemarketresearch.com/polylactic-acid-market-1679/request-sample
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.
Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/
Follow Us on Twitter: https://twitter.com/vantagemarketr
6218 Georgia Avenue NW Ste 1 - 564
Website: https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases @https://www.vantagemarketresearch.com/insight/press-releases
Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs