US Polylactic Acid (PLA) Market Size, Share & Trends Analysis Report, By Raw Material (Corn-based PLA, Sugar-based PLA, Cassava-based PLA, and Others), By Application (Packaging, Construction Material, Catering and Tableware, Agricultural Material, Consumer Goods, Electronic Material, Automobile, and Others) and Forecast, 2019-2025.
The US Polylactic Acid (PLA) Market is expected to grow at a CAGR of around 16.1% during the forecast period. Higher per capita economy, high usage of consumer electronics, automotive, plastic and packaging are the major factors contributing towards the market growth in the country. Presence of major players of PLA market which includes BASF SE, DuPont, Mitsubishi Chemical, Sigma Aldrich, Toray Group is augmenting the market for PLA in the US. The US has divided 66 chemicals into Petro‐chemicals, Intermediates, Polymers & Rubber, Fertilizers, Inorganic Chemicals, and Specialties. Polymers are being used in various industries including automotive, food packaging, and agriculture industry of the US for polymer products.
In addition, the food packaging industry is growing with a substantial rate in the US owing to the growing import and export of packaged food to other countries which include China, South Korea, India, and other Asian nations. South Korea is one of the key importers from the US. According to USDA (the US Department of Agriculture), the US exports have grown potentially in recent years owing to increased demand from South Korea. Consumer demand is growing substantially in South Korea for prepared and consumer-oriented foods. Packaged food is being preferred in South Korea coupled with the demand for ready to eat foods in the country. Trade has improved between these two countries due to the establishment of the FTA (Free Trade Agreement). Development of FTA plays a crucial role to encourage the imports and exports between the countries.
The companies in the market include BASF SE, NatureWorks LLC, and DuPont de Nemours, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in June 2017, NatureWorks LLC signed an agreement with Plaxica's Optipure chemical processing technology to produce D-lactic acid, serving as a building block for a further range of performance Ingeo PLA grades. This agreement will enable the company to expand the range of efficient PLA products.
Research Methodology:
The market study of the US PLA market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The research team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
The Report Covers:
The US Polylactic Acid (PLA) Market is expected to grow at a CAGR of around 16.1% during the forecast period. Higher per capita economy, high usage of consumer electronics, automotive, plastic and packaging are the major factors contributing towards the market growth in the country. Presence of major players of PLA market which includes BASF SE, DuPont, Mitsubishi Chemical, Sigma Aldrich, Toray Group is augmenting the market for PLA in the US. The US has divided 66 chemicals into Petro‐chemicals, Intermediates, Polymers & Rubber, Fertilizers, Inorganic Chemicals, and Specialties. Polymers are being used in various industries including automotive, food packaging, and agriculture industry of the US for polymer products.
In addition, the food packaging industry is growing with a substantial rate in the US owing to the growing import and export of packaged food to other countries which include China, South Korea, India, and other Asian nations. South Korea is one of the key importers from the US. According to USDA (the US Department of Agriculture), the US exports have grown potentially in recent years owing to increased demand from South Korea. Consumer demand is growing substantially in South Korea for prepared and consumer-oriented foods. Packaged food is being preferred in South Korea coupled with the demand for ready to eat foods in the country. Trade has improved between these two countries due to the establishment of the FTA (Free Trade Agreement). Development of FTA plays a crucial role to encourage the imports and exports between the countries.
The companies in the market include BASF SE, NatureWorks LLC, and DuPont de Nemours, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in June 2017, NatureWorks LLC signed an agreement with Plaxica's Optipure chemical processing technology to produce D-lactic acid, serving as a building block for a further range of performance Ingeo PLA grades. This agreement will enable the company to expand the range of efficient PLA products.
Research Methodology:
The market study of the US PLA market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The research team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
- Financial reports of companies involved in the market
- Whitepapers, research-papers, and news blogs
- Company websites and their product catalog
The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
- US PLA Market Research and Analysis, By Raw Material
- US PLA Market Research and Analysis, By Application
The Report Covers:
- Comprehensive Research Methodology of the US PLA market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the US PLA market.
- Insights about market determinants which are stimulating the US PLA market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
Companies Mentioned
A selection of companies mentioned in this report includes:
- BASF SE
- Corbion N.V.
- DuPont de Nemours, Inc.
- Merck KGaA
- MiniFIBERS, Inc.
- Mitsubishi Gas Chemical Co., Inc.
- NatureWorks LLC
- RTP Co.
- Sulzer Ltd.
- Toray Industries, Inc.
