Massive use in creams, shampoos, body care products drive growth

Massive use in creams, shampoos, body care products to drive growth

4:26 AM, 8th April 2019
Polylactic Acid
Polylactic Acid © Sulzer

Overview

Polylactic acid (PLA) is a biodegradable as well as bioactive thermoplastic aliphatic polyester derived from renewable resources such as corn starch, cassava roots, chips or starch (mostly in Asia), or sugarcane (in the rest of the world). In 2010, PLA had the second highest consumption volume of any bioplastic of the world.

Growth Factors

Massive use of PLA in creams, shampoos, and body care products on account of its various properties, including enhancing skin lightening effects as well as accelerating exfoliation and cell renewal will drive the polylactic acid (PLA) market trends over the years ahead. Furthermore, the odor barrier features and flavor will steer the growth of the polylactic acid (PLA) market in the years to come.

In addition, the use of the product in manufacturing plastic bottles and films and medical implants such as screws, plates, pins, and rods will further boost the business scope over the coming years. Massive use of the product in shopping bags and disposable cutlery will further boost the polylactic acid (PLA) market size in the coming years. Rising consumer awareness with respect to the need for recyclability, green packaging, and sustainability is likely to drive consumption of PLA over the next few years, thereby enlarging the scope of the business in the near future.

Segmentation

The global polylactic acid (PLA) market can be classified into raw material, form and application. Application wise, the market is sectored into packaging, agriculture, transport, electronics, and textiles.

Regional Analysis

Based on regions, the global polylactic acid (PLA) market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. North America is projected to dominate the global polylactic acid (PLA) market over the foreseeable future. Presence of leading manufacturing companies in the region, including Danimer Scientific LLC, Nature Works LLC, Total Corbion PLA, Hitachi Ltd, Ralik and BASF SE, is anticipated to have a positive impact on the regional market growth.

In addition, there has been rising consumption of biodegradable polymers compared to petroleum-based alternatives as the former is eco-friendly. This will open new avenues for PLA manufacturers in the future. In addition, growing composting infrastructure in the US is projected to promote industry development.

The Asia Pacific is likely to exhibit the fastest growth in the global market over the coming years. Key companies manufacturing PLA in the region such as Teijin Aramid BV, Innovia Films, Mitsubishi Chemical Holding Corporation, Dow Chemicals, Biobent Polymers and Zhejiang Hisun Biomaterials Co Ltd are projected to drive the regional growth. China is considered to be one of the largest textile producers in the market.

The Government of China has established several beneficial initiatives for the textile sector, such as the “Going Out” strategy, in its 12th five-year plan and offers subsidies to textile manufacturers. This scenario is anticipated to boost domestic consumption of PLA in the textile industry over the next few years.

Competitive Players

Some of the key players in Polylactic acid (PLA) market are BASF SE, Danimer Scientific, Futerro, NatureWorks LLC, Synbra Technology BV, Hitachi Ltd, Sulzer Ltd, Zhejiang Hisun Biomaterials Co Ltd, ThyssenKrupp AG and Teijin Ltd.

Source: Zion Market Research

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