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- 115 Market data Tables
- 47 Figures
- 188 Pages and in-depth TOC on “Polylactic Acid (PLA) Market – Global Forecast to 2026”
This report also provides a comprehensive analysis of the companies listed below:
Natureworks LLC (US), Total Corbion PLA (Netherlands), BASFSE (Germany), Cofco (China),
These players have adopted various growth strategies to expand their presence in the market further. New product launch, investment & expansion, and merger & acquisition have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global PLA market.
COVID-19 impact on global PLA market
PLA is used in various end-use industries such as packaging, consumer goods, textiles, and agriculture, among other industries. However, due to the ongoing pandemic, the end-use industries have been affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions had slowed the industry’s growth during the previous year.
NatureWorks LLC is one of the leading manufacturers of PLA. The company has manufacturing plants in the North America, and Asia Pacific. In recent years, in recent years, NatureWorks LLC has adopted several business strategies to strengthen its position in the market. It has adopted various growth strategies, including investment & expansion, and new product launch, to maintain its position in PLA market. For instance, In June 2021, NatureWorks LLC invested USD 600 million for a PLA facility in Thailand. The company is focusing on increasing its annual PLA production capacity to 75,000 tons for Ingeo PLA grade.
Total Corbion PLA is one of the major players operating in PLA market. The company has manufacturing facilities in Asia Pacific and planning to manufacture a new PLA production plant Europe which is expected to become operational by 2024. The company has adopted new product launch, investments & expansion, and collaboration strategies in order to broaden its product portfolio and maintain its position in the market. For instance, In October 2021, Total Corbion PLA developed a new grade of PLA derived for recycled waste as Luminy rPLA to strengthen its PLA product portfolio.
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