Bio-Polylactic Acid (PLA) Market Size, Scope, Demand Analysis 2022-2028
The global bio-polylactic acid (pla) market size was valued at USD 573.2 million in 2021 and is poised to grow at a significant CAGR of 18.7% during the forecast period 2022-28. Taghleef Industries. Favorable government policies toward bioplastics are the key driver of market growth. The global bio-PLA films market is driven by the growth of the global food and beverage industry and an increase in demand for food packaging for long-term preservation. The rapid adoption of bio- polylactic acid (PLA) films in agricultural applications, such as soft fruit and vegetable growing, has minimized negative environmental effects. The worldwide bio-polylactic acid (PLA)films market is likely to be restrained by higher bio-polylactic (PLA) film costs than synthetic and semi-synthetic films during the forecast period.
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The global bio-polylactic acid (PLA) market is segmentation
- By Raw Material: Corn, Cassava, Sugarcane, Sugar Beet, and Others
- By End-User Industry: Packaging, Medical, Electronics, Agriculture, Textiles, and Other End-user Industries
Asia-Pacific Leads Bio-Polylactic Acid (PLA) Market
Asia-Pacific dominated the global market, with China and Japan accounting for most consumers. China is the most populous country in Asia-Pacific, with one of the world's major manufacturing and production bases. Rapid urbanization is fueled by increased demand for plastic packaging, faster electronic product manufacturing, increased digital printing, rising food and retail grocery sales, and the expansion of the pharmaceutical industry. As a result, the bio-polylactic acid (PLA) film market in this region sees increased demand.
Key players’ profiles in the bio-polylactic acid (PLA) market report are NatureWorks LLC, Sulzer Ltd, TotalEnergies Corbion, Futerro, COFCO International, Synbra Technology BV, TORAY INDUSTRIES, INC, TOYOBO CO., LTD,
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