Market Overview: Polylactic Acid Market FY24-30
This reports provides an essential and dependable overview of the Polylactic Acid Market, serving as a guide for stakeholders navigating the industry's future trajectory. It covers critical aspects, guiding through challenges and opportunities, shedding light on the market landscape, key insights, driving forces, major competitors, regulatory framework, potential growth, ongoing trends, supply chain dynamics, evolving policies, segments and prominent players.
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Polylactic Acid Market Report Coverage Details:
- Base Year: 2023
- Historical Data: 2019-22
- Forecast Period: 2024-2030
- CAGR: 15.5% (2024-2030)
The Global Polylactic Acid Market was valued at USD 98.5 Million in 2022 and it is estimated to grow at a CAGR of about 15.5% during the forecast period, i.e., 2024-30.
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Polylactic Acid Market Trend:
Amplifying Adoption of PLA among Medical Devices Companies – In recent years, several medical device companies have been observed to incline toward the usage of PLAs for the production of medical devices like coronary stents, and other medical implants. Also, with the rising incidence of coronary artery diseases worldwide, especially across Asia Pacific, and Europe, owing to the rising adoption of unhealthy and sedentary lifestyles among consumers, demand for coronary stents has been increasing significantly across the globe.
The rise in such diseases amplified the demand for different types of coronary stents like drug-eluting or bioabsorbable stents, during historical years to revascularize the clogged arteries and vessels. Hence, medical device companies have been observed to largely incline toward Polylactic acids for stent production, as they are designed to biodegrade over time.
Moreover, as these companies are also inclining towards sustainability, the demand for biodegradable materials like PLAs is further projected to amplify in the coming years for the production of other devices like implantable drug dispensers, orthopedic devices, etc.
Polylactic Acid Market Segmentation Analysis - FY24-30
Discover a comprehensive evaluation of every segment and its subdivisions, allowing our clients to gain a deep understanding of the Polylactic Acid Market (2024-30). We prioritize uncovering the pivotal factors that presently drive and will shape the industry's growth moving forward. Our goal is to empower our esteemed clients by optimizing their end-user positioning and revenue generation through a thorough analysis of market size, share and all the latest market scope across diverse segmentation categories.
The Polylactic Acid Market segmentation is enlisted below:
By Product Form
- Films and Sheets- Market Size & Forecast 2019-2030, USD Million
- Pellets- Market Size & Forecast 2019-2030, USD Million
- Fibers- Market Size & Forecast 2019-2030, USD Million
- Others (Filaments, Granules, etc.) - Market Size & Forecast 2019-2030, USD Million
By End Users
- Packaging- Market Size & Forecast 2019-2030, USD Million
- Textiles - Market Size & Forecast 2019-2030, USD Million
- Agriculture- Market Size & Forecast 2019-2030, USD Million
- Electronics- Market Size & Forecast 2019-2030, USD Million
- Consumer Goods- Market Size & Forecast 2019-2030, USD Million
- Others (Medical, Automotive, etc.) - Market Size & Forecast 2019-2030, USD Million
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Polylactic Acid Market Competitive Landscape
Total Corbion PLA, Nature Works LLC, COFCO, Futerro, Jiangxi Keyuan Bio-Material Co., Ltd., Zhejiang Hisun Biomaterials Co., Ltd., Shanghai Tong-Jie-Liang Biomaterials Co., Ltd., Sulzer Ltd, BASF SE, Danimer Scientific, Toray Industries, INC, Evonik Industries, Unitika Ltd., Mitsubishi Chemicals, Other.
Polylactic Acid Industry News:
- 2023: Evonik Industries announced the enhancement of its parenteral drug delivery solutions with new PLA-PEG copolymers (RESOMER® RP d) for nanoparticle formation and a nanoparticle formulation service using nano sonication technology, ideal for various drug delivery applications.
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Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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