Chicago, July 29, 2022 (GLOBE NEWSWIRE) -- Polylactic Acid Market size is projected to grow from USD 1.0 billion in 2021 to USD 1.9 billion by 2026, at a CAGR of 12.2% between 2021 and 2026, according to a new report by MarketsandMarkets™. The major factors driving the market are rising demand of PLA in packaging industry, stringent waste management regulations in Europe, increased focus of government on green procurement policies, and shift in consumer preference toward eco-friendly and biodegradable plastic products. Moreover, development of new applications, high potential in emerging countries of APAC, and multi-functionalities of PLA is expected to drive the market during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=29418964

Browse in-depth TOC on “Polylactic Acid Market”
115 – Tables
47 – Figures
188 – Pages

Major players in the PLA Market include:

• NatureWorks LLC (US),
• Total Corbion PLA (Netherlands),
• BASF SE (Germany),
• Futerro (Belgium),
• COFCO (China),
• Mitsubishi Chemicals Corporation (Japan),
• Danimer Scientific (US),
• UNITIKA LTD.(Japan),
• Evonik Industries (Germany), and
• TORAY INDUSTRIES, INC (Japan) are some of the leading players in the market.

These players have adopted various growth strategies to expand their presence in the market further. New product launch, investment & expansion, and merger & acquisition have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global PLA market.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=29418964

NatureWorks LLC is one of the leading manufacturers of Polylactic Acid Market. The company has manufacturing plants in the North America, and Asia Pacific. In recent years, in recent years, NatureWorks LLC has adopted several business strategies to strengthen its position in the market. It has adopted various growth strategies, including investment & expansion, and new product launch, to maintain its position in PLA market. For instance, In June 2021, NatureWorks LLC invested USD 600 million for a PLA facility in Thailand. The company is focusing on increasing its annual PLA production capacity to 75,000 tons for Ingeo PLA grade.

Total Corbion PLA is one of the major player operating in PLA market. The company has manufacturing facilities in Asia Pacific, and planning to manufacture a new PLA production plant Europe which is expected to become operational by 2024. The company has adopted new product launch, investments & expansion, and collaboration strategies in order to broaden its product portfolio and maintain its position in the market. For instance, In October 2021, Total Corbion PLA developed a new grade of PLA derived for recycled waste as Luminy rPLA to strengthen its PLA product portfolio.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=29418964

Browse Adjacent Markets: Resins and Polymers Market Research Reports & Consulting

Related Reports:

Biodegradable Plastics Market by Type (PLA, Starch Blends, PHA, Biodegradable Polyesters), End-Use Industry (Packaging, Consumer Goods, Textile, Agriculture & Horticulture), and Region (APAC, Europe, North America & RoW)

Bioresorbable Polymers Market by Type (Polylactic Acid (PLA), Polyglycolic Acid (PGA), Poly (lactic-co-glycolic acid) (PLGA), Polycaprolactone (PCL)), Application (Orthopaedic Devices, Drug Delivery), and Region

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.