DALLAS, March 29, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the polylactic acid market looks promising with opportunities in the packaging, bio-medical, textile, agriculture, and electronics end use industries. The global polylactic acid market is expected to reach an estimated $3.7 billion by 2024 with a CAGR of 13.8% from 2019 to 2024. The major growth drivers for this market are increasing government regulation, environment friendly and better mechanical properties as compared to other biopolymers.
Browse 134 market data tables and 171 figures spread through 242 pages and in-depth TOC on “Global Polylactic Acid Market" at https://www.lucintel.com/polylactic-acid-market.aspx
In this market, different types of polylactic acid such as PLLA, PDLA, and PDLLA are used as product type. The L-lactic product type is expected to remain the largest market and will witness the highest growth during the forecast period due to its increasing usage in packaging, biomedical, textile, and agriculture industry.
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Europe is expected to remain the largest market and will witness the highest growth over the forecast period supported by stringent government regulations, biodegradable, and mechanical properties.
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Emerging trends, which have a direct impact on the dynamics of the polylactic acid industry, include development of high heat resistant polylactic acid and production of PLA from second generation feedstock. Natureworks, Total Corbion, Pyramid Bioplastic, Weforyou, and Zhejiang Hisun are among the major polylactic acid manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global polylactic acid market by product type, end use, raw material, product form, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Polylactic Acid Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global polylactic acid market by product type, end use, raw material, product form, and region
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com