Polylactic Acid Market Prophesied to Perceive Burnished Growth by 2030; Asserts MRFR

Pune, India, January 17, 2018/MRFR Press Release/- Market Research Future published a Half Cooked Research Report on “Global  Polylactic Acid Market Research Report - Forecast to 2030”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.

BASF SE (Germany), The DOW Chemical Company (U.S.), Corbion (the Netherlands), TEIJIN LIMITED. (Japan), NatureWorks LLC (U.S.), Synbra Technology bv (the Netherlands), Galactic (Belgium), Sulzer Ltd (Switzerland), Hitachi, Ltd. (Japan), Musashino Chemical Laboratory, Ltd. (Japan), and others.

Polylactic Acid Market – Overview

The global Polylactic Acid Market is being driven by factors such as increasing application in packaging industry coupled with rising government policies toward green procurement. Significant increase in plastic packaging production and sales, specifically in emerging economies of Europe, Asia Pacific and Latin America such as France, Germany, U.K, Italy, China, India, Thailand, South Korea, Brazil, Mexico and Argentina is set to propel market growth over the forecast period. Better economic situation and consumer preference toward environment-friendly products have resulted in the increasing demand for PLA. The major initiatives taken by the government and non-government organizations across the globe towards reducing pollution is set to uplift its demand over the next seven years.

Growing demand from consumers for eco-friendly packaging is shifting the focus of major plastics manufacturers and packaging vendors toward biodegradable plastics like polybutylene succinate, PLA. The need of vendors to be in line with government regulations is forcing them to focus on manufacturing biodegradable plastics and map out their products in the export market. A global consumer survey conducted by Unilever on packaging showed that, one third of consumers (33%) are now choosing to buy from brands they believe are doing social or environmental good. Additionally, consumers were of the opinion that food packaging vendors should concentrate more on the development of green product packaging. This has forced vendors to consume more green packaging labels as a strategy for branding as well as customer acquisition. The rise in acceptance of consumers for sustainable packaging and green products will drive the PLA consumption during the forecast period.

Industry/ Innovation/ Related News:

July 2014 – Meredian Inc., one of the leading producers of biodegradable polymer and DaniMer Scientific merged under a wholly owned subsidiary Meredian Holdings Group Inc. With this merger, company's structure will increase the size and market awareness of the company along with expansion of product portfolio.

November 2014 – Perstorp, a Sweden based specialty chemical company, increased its activities in bioplastic with Capa biodegradable plastic. Biopolymers along with Capa added will improve its mechanical properties and biodegradability. Company's aim is to strengthen its position in biopolymer area across the globe.

March 2017 – PepsiCo, Inc. made an agreement with Danimer Scientific a biotechnology leader to develop Danimer Scientific biodegradable film resin to meet the packaging requirement for PepsiCo's gobal business. With this agreement Danimer Scientific will scale up its biodegradable resin production.

August 2015 – MHG, a biotechnology company increased its production capacity with the installation of new fermentation vessel. With this installation of equipment, company's biodegradable polymer can be scaled up for commercialization.

November 2016 - Total and Corbion a global leader establish a joint venture to develop world class PLA polymerization plant with annual capacity of 75000 tons per year.

December 2016 - Evonik Industries expanded its production capacity of biodegradable polymer at its manufacturing facilities in Birmingham (U.K) and Darmstadt (Germany). With this expansion the company will serve the growing demand for biodegradable plastic.

September 2017 - Bio-on company starterd construction of a new plant for the production of PHAs biopolymer, which will utilized in cosmetic industry. With this expansion, company strengthen its position among global biodegradable manufacturers.

November 2017 - Novamont S.p.A announced that the company will double the production of its Origo-Bi-brand biopolyester by early 2018. With this expansion the company will increase its production capacity for Origo-Bi from 50000 to 100000 tones per year.

February 2017 - Novamont S.p.A acquired the remaining 22% share capital of Mater-Biopolymer srl. With this acquisition the company strengthen its position in biopolymer market.

January 2011 - Novamont S.p.A and Eni signed a joint venture under the banner of Green Chemistry to relaunch one of the key areas of R&D. Under this agreement, Novamont technologies and renewable raw materials will build a new production unit for biopolymers, bio intermediates, and bio fillers for bioplastic and elastomers.

Regional Analysis

Market Research Future has segmented the global PLA market in five different regions namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North American market is further divided into the US and Canada while the European market is segmented into Germany, Russia, Italy, France, U.K., Rest of Europe. The Asia Pacific market is sub-divided into China, India, Japan, South Korea and Rest of Asia Pacific. Europe has accounted for the largest market share in PLA market followed by North America and Asia Pacific. The Europe region offers huge growth potential for PLA market and is slated to register the double digit CAGR owing to the growing consumer demand for products with a reduced environmental impact in the region.

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