According to the recent study the Polylactic Acid Market is projected to reach an estimated $9 billion by 2030 from $3.1 billion in 2023, at a CAGR of 17% from 2023 to 2030. The major drivers for this market are increasing government regulation and environment friendly and better mechanical properties as compared to other biopolymers.
Browse 107 figures / charts and 68 tables in this 242 -page report to understand trends, opportunities and forecast in polylactic acid market by product type (PLLA, PDLA, and PDLLA), end use (packaging, bio-medical, textile, agriculture, electronics, and others), raw material (corn starch, sugarcane & sugar beet, cassava, and others), product form (film & sheet, fiber, thermoforming, coating, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that packaging will remain the largest end use industry during the forecast period due to its biodegradable properties and favorable government policies.
L-Lactic polylactic acid will remain the largest segment and it is expected to witness the highest growth over the forecast period due to its increasing usage in packaging, biomedical, textile, and agriculture industry.
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Europe is expected to remain the largest market and will witness the highest growth over the forecast period supported by stringent government regulations, biodegradable, and mechanical properties.
Natureworks, Total Corbion, Pyramid Bioplastics, Weforyou, Zhejiang Hisun Group, are the major suppliers in the polylactic acid market.
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Roy Almaguer
Lucintel
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Email: [email protected]
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