Polylactic Acid (PLA) Market 2019, Trend, CAGR Status, Growth, Analysis and ForePosted by Faraz on January 17th, 2020 The global PLA market is projected to grow at a CAGR of 17.2% during the forecast period (2018-2023). PLA (Polylactic Acid) can be regarded as one of the best products to have a growth opportunity in the rapidly emerging bioplastic market across the globe. PLA is increasingly becoming popular in the plastics industry due to its various beneficial factors such as biodegradability. Developed economies such as the US and Europe account to contribute the largest share in the global PLA market; however, the rising population and infrastructure in emerging economies such as India, China, and Thailand, are anticipated to inherit the development of plastics from the PLA industry. Get Sample Copy of Polylactic Acid (PLA) Market at: https://www.omrglobal.com/request-sample/polylactic-acid-market Key Companies which are profiled in the report includes BASF SE, Cereplast, Dow Chemicals, Natureworks LLC, Solegear, Sulzer Ltd, Synbra Holding Bv, ThyssenKrupp and Zhejiang Hisun Biomaterials Co. Ltd. China is the largest manufacturer of plastic across the globe, followed by Europe and NAFTA. According to Plastics Europe, China accounted to contribute over 58% in the Asia-Pacific plastic production industry. Owing to which, huge plastic pollution can be seen in the oceans by Asian countries, over half of the plastic waste in the ocean comes from nearly five Asian countries such as Indonesia, China, Vietnam, Thailand, and the Philippines. According to Our World in Data (OWID), China contributes the largest share in the mismanaged plastic waste, nearly 28% in the global market, followed by 10% in Indonesia. Other leading countries in Asia-Pacific that are contributing to the plastic waste are Thailand (3.2%), Egypt (3%), and Nigeria (2.7%). For More Information get A full report of Polylactic Acid (PLA) is available at: https://www.omrglobal.com/industry-reports/polylactic-acid-market Governments across Asia are stirring to the distressing environmental and financial costs of polluted oceans and rivers. China, being the largest producer of plastic waste has started introducing plans to cater to the increasing plastic waste generated from the country. According to the World Economic Forum, China has pledged to ban waste imports and reach a 35% recycling rate in 2020. This, in turn, is anticipated to propel the demand for PLA in China, as the products manufactured from PLA are biodegradable, compostable, and recyclable. As the local manufacturing increases, it is expected to further increase the demand of PLA in the local market for automotive surface manufacturing applications, thereby creating opportunities for the growth of the global PLA market over the forecast period. India has imitated a plan of eliminating all single-use plastic in 2022 and has further introduced an immediate ban of plastic in Delhi. This is majorly due to increasing water and land pollution generated by the non-recyclable plastics. This is projected to divert the production of plastics from PLA in India. Moreover, Thailand comprises 5,000 plastic production companies; however, nearly 60% of these companies are small scale industries. The country has further invested around million in the development of bioplastics from over the past seven years, with the government contributing around 80% of this investment. This is expected to be one of the prime reasons which are expected to create opportunities for the increase in demand for PLA in India. Global PLA Market - Segment By Type
By Raw Material
Global PLA Market – Regional North America
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