Business Opportunities in the Industry of Poly Lactic Acid
Poly lactic acid is a thermoplastic polyester which is derived from renewable feedstock like corn starch, sugarcane, wheat, tapioca roots. It is a bio degradable polyester polymer of lactic acid. It has wide variety of application for instance it is used in packaging, textile, agriculture, transportation, bio-medical and electronic industry. Because of environmental concerns and scarcity and volatility of prices of fossil fuels, a lot of companies and government regulatory bodies are focusing to find substitute to oil based products.
Related Projects:- Chemicals (Organic, Inorganic, Industrial) Projects
Additionally, bio based plastic has a huge potential to reduce the consumption and dependency on petroleum based feedstock and lessen negative impact on environment by reducing carbon footprints. Hence, it has emerged mainly as source of bio-degradable plastic are available in the market in recent years. Moreover, on-going research and technical development in the field of bio-based plastics have enhanced properties of bio-based plastics namely Poly lactic resistance heat and thus increasing scope of its application market. Globally the poly lactic acid market is presently facing supply crunch as few international manufacturers trying hard to meet fast growing demand for bio-based plastics. Therefore, it is anticipated that the global market of Poly lactic will grow at a double digit growth rate.
Related Books:- Chemical Technology (Organic, Inorganic, Industrial), Fine Chemicals
- The poly lactic acid is thermoplastic polyester derived through various renewable sources like corn starch, sugarcane, tapioca roots etc. These remain an important market segment within the bio plastic with respect to their applications in different areas such as packaging, electronics, textiles and fibers etc. The bio plastics have found varied applications in recent years and have become a very much popular among companies as well as consumers. The primary reason for this instant and fast growth of bio plastics market is the environment friendly nature of these polymers. Additionally, the light weight factor, versatility in applications and durability of the goods prepared by bio plastics further add up to its positive aspects.
Related Project: – Polylactic Acid (PLA) from Lactic Acid
Demand of Poly Lactic Acid from Different Industries
Globally, the market of poly lactic acid size was valued at USD 535.6 million in year 2019 and is expected to expand at a compound annual growth rate of 15.9 % from year 2020 to 2027. Emerging bio plastic application, coupled with favorable regulations related to the use of bio-based material, is expected to give an impetus to the market growth over the forecasted period.
Related Videos:- Chemicals (Organic, Inorganic, Industrial)
Government initiatives on the ban on single use plastics in different countries, along with high environmental concerns are projected to assist the product demand across the globe. Countries such as the U.K., Taiwan, New Zealand, Zimbabwe, and several states of the U.S., such as New York, California, and Hawaii, have banned the use of single-use plastics.
The poly lactic acid is majorly utilized to produce microwaveable containers, including food containers and disposable cutlery. Multiple beneficial properties include resistance to grease and oil, improved aesthetic appeal, and better printability are positively impacting the demand for Poly lactic acid in the formulation of food packaging products around the globe.
Related Projects:- Chemicals, Biotechnology, Enzymes, Bio Fertilizer, Vermiculture, Vermicompost Chemical & Allied Industries and Alcohol Projects
The packaging end-use segment led the market and accounted for more than 35.0% share of the global revenue in 2019. This is attributed to the rising demand for packaging in the end-use segments, such as food and beverage packaging, personal care packaging, and household care products.
Conclusion
“Polylactic Acid – Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost and Revenue, Plant Layout” is the project report by NPCS. The report cover all the aspects of business, from analysing the market, confirming availability of various necessities such as plant & machinery, raw materials to forecasting the financial requirements.
Related Project:- Poly-lactic Acid (PLA) – Polylactic Acid Manufacturing
Noo_Art2021