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Polylactic Acid (PLA) Market Insights, Deep Analysis of Key Vendor in the Industry 2022-2030
![Allied Market Research has published a report titled "Polylactic Acid Market by End Use Industry (Packaging, Textile, Agricultural, Electronics, Bio-Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2021โ2030 Polylactic Acid Market Trends](https://img.einnews.com/ampsize/673803/polylactic-acid-market-trends.jpeg)
Polylactic Acid Market Trends
Polylactic acid is favored for its eco-friendly properties, which are particularly advantageous in the construction industry.
WILMINGTON, DELAWARE, UNITED STATES, May 22, 2024 /EINPresswire.com/ -- Allied Market Research has published a report titled "Polylactic Acid Market by End Use Industry (Packaging, Textile, Agricultural, Electronics, Bio-Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2021โ2030." According to the report, the global polylactic acid market is projected to reach a valuation of $4.0 billion by 2030, up from $0.7 billion in 2020, with a robust compound annual growth rate (CAGR) of 17.2% over the forecast period from 2021 to 2030.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/polylactic-acid-market/purchase-options
๐๐ซ๐ข๐ฆ๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
- The rapid expansion of the global polylactic acid market is driven by several factors:
- Construction and Building Industry: The market benefits from the increasing use of polylactic acid in the construction sector.
- Environmental Benefits: Polylactic acid is favored for its eco-friendly properties, which are particularly advantageous in the construction industry.
Waste Management Solutions: Innovations in waste management are expected to create lucrative opportunities for market growth.
However, some limitations related to packaging in the construction industry may impede growth to some extent.
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐๐๐๐ข๐ง๐ ๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ
- Packaging Segment: In 2020, the packaging segment dominated the market, accounting for nearly 90% of the total revenue. The rising demand for packaged ready-to-eat (RTE) meals, snacks, and other packaged foods fuels this growth.
- Bio-Medical Segment: This segment is poised to exhibit the fastest growth, with a projected CAGR of 20.2% throughout the forecast period. Polylactic acid's properties such as processability, mechanical strength, biodegradability, and biocompatibility make it an essential material for biomedical applications.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
- Europe and North America: In 2020, Europe, followed by North America, held the largest share of the polylactic acid market, collectively contributing to around half of the global market. This dominance is attributed to high demand from the biomedical and packaging sectors.
- Asia-Pacific: This region is expected to register the highest CAGR of 18.4% from 2021 to 2030. The growth is driven by the expanding textile, electronics, and agriculture industries to meet the demands of a growing population.
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
The report highlights key players in the polylactic acid market, including:
- Nantong Jiuding Biological Engineering Co. Ltd.
- Futerro
- Chongqing Bofei Biochemical Products, Ltd.
- NatureWorks LLC.
- Hisun Biomaterials
- Corbion Purac
- Synbra
This comprehensive analysis provides valuable information for stakeholders, offering a thorough understanding of the market dynamics, growth opportunities, and competitive landscape in the global polylactic acid market.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.alliedmarketresearch.com/request-sample/78
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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Allied Market Research
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