Lucintel's latest market report analyzed that polylactic acid provides attractive opportunities in packaging, bio-medical, textile, agriculture, and electronics industries. The polylactic acid market is expected to reach $7.4 billion by 2028 with a CAGR of 15.1%. In this market, packaging is the largest segment by end use industry, whereas L-Lactic is largest by product type. Development of high heat resistant polylactic acid and production of PLA from second generation feedstock provides strategic growth path in this market.
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Based on end use industry, the polylactic acid market is segmented into packaging, bio-medical, textile, agriculture, electronics, and others. The packaging segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its biodegradable properties and favorable government policies.
Browse in-depth TOC on “Polylactic Acid Market”
68 – Tables
107 – Figures
242 – Pages
The Polylactic Acid Market is marked by the presence of several big and small players. Some of the prominent players offering polylactic acid include Natureworks, Total Corbion, Pyramid Bioplastics, Weforyou, Zhejiang Hisun Group, Jiangsu SUPLA Bioplastic Co. Ltd., Synbra Technology bv, Sulzer, Toray Industries Inc., Futerro.
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