The global polylactic acid market is anticipated to rise with a CAGR of 14.55% over the forecast period of 2019-2027

LONDON, Jan. 16, 2019 /PRNewswire/ -- KEY FINDINGS
The global polylactic acid market is anticipated to rise with a CAGR of 14.55% over the forecast period of 2019-2027. The market is primarily driven by factors such as a lack of fossil fuel resources, high petroleum prices, favorable government support, substantial end-user applications, rising environmental concerns and the increasing demand from the developing countries. The ability of PLA to blend with other materials and its production from second-generation biomass such as waste vegetable oil are some of the positive attributes that can be influential for the market growth during the forecasting tenure.

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MARKET INSIGHTS
The global polylactic acid market is segmented based on products and application.The product segment is further sub-segmented into coatings, films and sheets, and fibers.

The films and sheets are the most popular sub-segment from the product type.The application segment includes catering, packaging, textile material, agriculture, electronic materials, consumer goods, etc.

Of these, the market scope for packaging application is the highest. High heat resistance capacity of PLA makes it very suitable for packaging and other application where higher temperature resistance is a necessity.

REGIONAL INSIGHTS
The global polylactic acid market is geographically segmented into North America, Europe, Asia Pacific and the Rest of World. The North America region is expected to dominate the global market where the U.S is the primary contributor. The Asia-Pacific market is also fast growing owing to the variety of application of polylactic acid in numerous sectors.

COMPETITIVE INSIGHTS
Danimer Scientific (Merged By Meridian, Inc.), Synbra Holding B.V., Natureworks LLC, Zhejiang Hisun Biomaterials Co., Ltd., Futerro SA, Teijin Aramid B.V., Dow Chemicals, Thyssenkrupp AG, Green Dot Holdings LLC, Biobent Polymers, Teijin Aramid B.V., BASF, Innovia Films (Acquired By CCL Industries Inc.), Total-Corbion, Solegear Bioplastics Inc. and Mitsubishi Chemical Holding Corporation are some of the global market leaders for polylactic acid products.

Companies mentioned
1. NATUREWORKS LLC
2. BASF
3. MITSUBISHI CHEMICAL HOLDING CORPORATION
4. ZHEJIANG HISUN BIOMATERIALS CO., LTD.
5. FUTERRO S.A.
6. SYNBRA HOLDING B.V.
7. TEIJIN ARAMID B.V
8. DOW CHEMICALS
9. THYSSENKRUPP AG
10. DANIMER SCIENTIFIC (MERGED BY MEREDIAN, INC.)
11. GREEN DOT HOLDINGS LLC
12. BIOBENT POLYMERS
13. INNOVIA FILMS (ACQUIRED BY CCL INDUSTRIES INC.)
14. SOLEGEAR BIOPLASTICS INC.
15. TOTAL-CORBION

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