Polylactic acid (PLA) is a biodegradable material with rigidity and clarity similar to polystyrene (PS) or polyethylene terephthalate (PET) and is used in applications such as packaging, catering, agriculture, automobiles etc. PLA is one of the best products in emerging bioplastic market because of its availability specifically in regions where there is more demand such as the US, Europe, China, Japan and Thailand. Natural polymers, biopolymers, and synthetic polymers based on renewable resources are the basis for the twenty-first century portfolio of sustainable, eco-efficient plastics. These materials will replace petroleum-based polymers such as HDPE, PET, PPetc., which are used in similar applications.
PLA is relatively new and emerging market. Developed countries such as the US and Europe are the largest market for PLA; however, developing Asian nations such as China and Thailand are also becoming lucrative destinations for the PLA market. Raw material availability, infrastructure development, favorable government policies and awareness of environmental benefits of PLA are the major drivers for the PLA market in different geographies.
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. PLA has wide range of applications such as packaging, agriculture, catering, automobile, electronics, 3d printing, medical implants and construction materials. The market is growing at a CAGR of over 20% with construction material application growing at the fastest pace.
- Natureworks Llc
- Zhejiang Hisun Biomaterials Co., Ltd.
- Executive Summary
- Market Overview
2.1. Market Definition
2.2. Value Chain Analysis
2.3. Strategic Recommendation
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- Market Determinants
3.1. Market Drivers
3.1.1. Extensive use in automotives & furniture industry
3.1.2. Multiple utility due to varied properties
3.1.3. Increasing demand for energy efficiency
3.2. Market Restraints
3.2.1. Environmental Issues
3.2.2. Industry moving towards bio based PU
3.3. Market Opportunities
3.3.1. High cost of metals
3.3.2. Increasing demand for polyurethane foam in Asia Pacific
3.4. Market Challenges
- Market Share Analysis
4.1. Key Company Analysis
4.2. Key Strategies
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- Market Segmentation
5.1. Market Segmentation by type
5.1.1. Flexible Foam
5.1.2. Rigid Foam
5.1.3. PU Coating
5.1.4. Adhesive & Sealants
5.2. Market Segmentation by application
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