Press release
Polylactic Acid Market (CAGR) of 17.2%, Innovation Imperative Future Proofing Your Business with Market Size Intelligence
Allied Market Research has recently released a report titled "Polylactic Acid Market by End Use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global polylactic acid market is projected to reach a value of $4.0 billion by 2030, with a rapid growth rate of 17.2% CAGR during the forecast period from 2021 to 2030. In 2020, the market was valued at $0.7 billion.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/78
Key Growth Drivers:
The growth of the global polylactic acid market can be attributed to several factors, including the expansion of the construction and building industry, as well as the advantages of polylactic acid in this sector. However, challenges related to packaging in the construction industry may hinder market growth to some extent. Nonetheless, innovative solutions for waste management are expected to create lucrative growth opportunities in the coming years.
Packaging Segment Leading the Market:
The packaging segment dominated the market in 2020, accounting for approximately 90% of the total market revenue. This growth is fueled by increasing demand for packaged ready-to-eat meals, snacks, and other food items. Meanwhile, the bio-medical segment is anticipated to exhibit the fastest CAGR of 20.2% during the forecast period, owing to the importance of polylactic acid in biomedical applications due to its favorable characteristics such as processability, mechanical strength, biodegradability, and biocompatibility.
Regional Insights:
Europe, followed by North America, held the largest market share in 2020, with Europe contributing around half of the global market revenue. This was driven by robust demand from the biomedical and packaging sectors. On the other hand, Asia-Pacific is expected to witness the fastest CAGR of 18.4% from 2021 to 2030, fueled by the rapid growth of the textile, electronics, and agriculture industries to meet the demands of the growing population in the region.
Key Players:
Some of the top players in the polylactic acid market include Nantong Jiuding Biological Engineering Co. Ltd., Futerro, Chongqing Bofei Biochemical Products Ltd., NatureWorks LLC, Hisun Biomaterials, Corbion Purac, and Synbra.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/polylactic-acid-market/purchase-options
Contact:
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/78
Key Growth Drivers:
The growth of the global polylactic acid market can be attributed to several factors, including the expansion of the construction and building industry, as well as the advantages of polylactic acid in this sector. However, challenges related to packaging in the construction industry may hinder market growth to some extent. Nonetheless, innovative solutions for waste management are expected to create lucrative growth opportunities in the coming years.
Packaging Segment Leading the Market:
The packaging segment dominated the market in 2020, accounting for approximately 90% of the total market revenue. This growth is fueled by increasing demand for packaged ready-to-eat meals, snacks, and other food items. Meanwhile, the bio-medical segment is anticipated to exhibit the fastest CAGR of 20.2% during the forecast period, owing to the importance of polylactic acid in biomedical applications due to its favorable characteristics such as processability, mechanical strength, biodegradability, and biocompatibility.
Regional Insights:
Europe, followed by North America, held the largest market share in 2020, with Europe contributing around half of the global market revenue. This was driven by robust demand from the biomedical and packaging sectors. On the other hand, Asia-Pacific is expected to witness the fastest CAGR of 18.4% from 2021 to 2030, fueled by the rapid growth of the textile, electronics, and agriculture industries to meet the demands of the growing population in the region.
Key Players:
Some of the top players in the polylactic acid market include Nantong Jiuding Biological Engineering Co. Ltd., Futerro, Chongqing Bofei Biochemical Products Ltd., NatureWorks LLC, Hisun Biomaterials, Corbion Purac, and Synbra.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/polylactic-acid-market/purchase-options
Contact:
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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