According to ChemAnalyst report, “Global Polylactic Acid Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035”, The global Polylactic Acid market has expanded remarkably in the historic period of 2015-2022 and is expected to grow at a CAGR of 14.44% during the forecast period until 2035. The rising demand from Packaging, Agriculture, Textile, and Electronic Appliances end-use industries, is expected to swell up the demand for the Polylactic Acid market in the forecast period.

A biodegradable polymer made from lactic acid is called polylactic acid (PLA). It is produced from 100 percent renewable resources, including corn, sugar beets, wheat, and other starch-rich foods, and is incredibly versatile. Because polylactic acid has several qualities that are comparable to or superior to many petroleum-based plastics, it can be used in a wide range of applications. Polylactic acid is one of the most promising biodegradable polymers (biopolymer) at in the current time. It is a thermoplastic aliphatic polymer having good mechanical properties and a semi-crystalline, biodegradable hydrophobic nature. Polylactic acid is totally compostable, meaning it may degrade into biodegradable components under certain conditions, making it a popular material for packaging in industries such as food and beverage and consumer goods.

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The packaging industry's growing need for biodegradable packaging substitutes is a key factor driving the worldwide polylactic acid (PLA) market. The growing need for bio-based plastics film in agriculture is anticipated to drive the growth of the global polylactic acid (PLA) market. PLA can be an alternative to petroleum-based polymers. The governments all across the globe are taking necessary steps to increase the use of biodegradable products by offering subsidies. Pollution control and environmental safety are two of the main reasons why more and more stakeholders are leaning towards bioplastics instead of petroleum-based plastics.

The global Polylactic Acid market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Polylactic Acid market is segmented into Packaging, Agriculture, Textile, Electronic Appliances, and Others. The Packaging industry is the leading consumer of polylactic acid followed by agriculture industry. In 2022, the Packaging industry consumed more than 55% of the Polylactic acid. Similar to the common plastic polyethylene terephthalate (PET), which is used for soft drinks and many other food products, PLA possesses taste and odour barrier properties, which makes it suitable material for food & beverage packaging. PLA is also resistant to grease and moisture.

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Based on region, Asia Pacific is the key consumer of Polylactic Acid market, followed by Europe and North America. This region consumed approximately 45% of the net market. Throughout the forecast period, an increase in demand for PLA from end-use sectors including packaging and electronics in emerging regions is anticipated to drive up demand for polylactic acids in Asia Pacific region. The number of mergers and acquisitions by well-known companies from around the world has increased in recent years.

“Global Polylactic Acid Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035” Major players for Polylactic Acid globally include NatureWorks, BASF SE, Zhejiang Hisun Biomaterials Co, Futerro (GALACTIC) & BBCA, Jilin Cofco Biomaterials, Hengtian, Synbra Technology BV, and Others.

““The rapidly increasing demand for renewable plastic from the packaging, agriculture, and biomedical industry is expected to boost the Polylactic Acid (PLA) market in the forecast period until 2035. Increased consumer awareness of environmentally friendly plastic products, increased government focus on biodegradable plastic, and stricter government rules and regulations prohibiting the use of plastic bags and other plastic items, is likely to augment its market in the upcoming years. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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