The Global Bio-PLA Market has been estimated at USD billion in 2015 and is projected to reach USD billion by 2020, at a CAGR of during the forecast period. Bio-PLA or Bio-Polyacetic Acid are polymers which are produced from living organism. They contain properties such as biodegradability, biocompatibility, and are non-toxic in nature. These polymers are attracting a significant commercial interest owing as they are produced by the chemical polymerisation of naturally occurring monomers.
Bio-PLA can be used for various applications such as healthcare, packaging, electronics, agriculture, textiles, automotive, and others. Bio-PLA are extensively used in the textile and packaging applications, accounting for a share of and , respectively in 2015.
The market is driven by increasing awareness towards sustainable product, and cost effective alternative to conventional products. However, this market faces certain drawbacks such as the huge competition from conventional manufacturers and lack of commercialisation.
Europe is the leading consumer of Bio-PLA in 2015 accounting for a share of followed by APAC and North America. The Bio-PLA market in Europe will grow at a high rate during the forecast period owing to the stringent environmental regulations in the region. The market will grow at a healthy pace during the forecast period.
Furthermore, the shifting focus towards eco-friendly products will offer numerous opportunities in the growth of the Bio-PLA market. Some of the major companies dominating the market with its products, and continuous product developments are Braskem, Bayer, DuPont, Dow Chemicals, Mitsubishi Chemical Corp., Eastman Chemicals, and Nova Chemical Corp.
Key Deliverables in the Study
1) Market analysis for the Global Bio-PLA Market , with region specific assessments and competition analysis on global and regional scales
2) Market definition along with the identification of key drivers and restraints
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4) Extensively researched competitive landscape section with profiles of major companies along with their market shares
5) Identification and analysis of the macro and micro factors that affect the global Bio-PLA market on both global and regional scales
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7) A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8) Insights on the major countries/regions in which this industry is booming and to also identify the regions that are still untapped
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