United States Polylactic Acid (Pla) Market Forecast 2024-2032
KEY FINDINGS
The United States polylactic acid (PLA) market is forecasted to rise with a CAGR of 16.80% during the forecasted years. While the base year considered for the market study is 2023, the projection period is from 2024 to 2032. The demand for PLA is rising in the United States, boosted by the surging prices of petrochemicals and the rapidly developing pharmaceutical industry.
MARKET INSIGHTS
The United States polylactic acid (PLA) market is set to be a lucrative region in North America, driven by the escalating prices of petrochemicals such as oil, diesel, coal, and gasoline. The demand for PLA is on the rise in the country, propelled by the increasing prices of petrochemicals as well as the expanding pharmaceutical industry. PLA also serves as a precise substitute for various petrochemicals, offering a renewable energy source amid continuous price hikes in diesel, gasoline, and coal.
Over 30% of global PLA consumption occurs in the USA across various applications, including packaging materials, mulch films, medical implants, and construction materials. The success of the PLA industry is closely tied to consumer awareness, with individuals in this region being well-informed about the eco-friendly nature of PLA.
Anticipated growth in the country’s polylactic acid market is attributed to the rising applications of PLA in biomedical, electronic, automotive, and plastic industries. Additionally, the high prices of petrochemical products further contribute to the increasing demand for PLA in the region. The collective impact of consumer awareness and the versatility of PLA applications positions the nation as a key player in the growing global PLA market.
COMPETITIVE INSIGHTS
Key players operating in the market include Danimer Scientific, Dow Chemicals, BASF, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Methodology
- 1.3. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Country Snapshot – United States
- 2.3. Country Analysis – United States
- 2.4. Scope Of Study
- 2.5. Crisis Scenario Analysis
- 2.5.1. Impact Of Covid-19 On Polylactic Acid (Pla) Market
- 2.6. Major Market Findings
- 2.6.1. Increasing Utilization Of Pla In Biomedical Applications
- 2.6.2. Key Market Players Actively Engaging In Sustainability Initiatives
- 2.6.3. Increasing Popularity In 3d Printing Due To Its Versatility
- 2.6.4. Pla: Positive Environmental Impact
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increasing Demand For Sustainable Packaging
- 3.1.2. Supportive Government Policies And Regulations
- 3.1.3. Consumer Shift Towards Green Products
- 3.2. Key Restraints
- 3.2.1. Relatively Higher Production Costs Of Pla
- 3.2.2. Pla’s Limited Heat Resistance Compared To Conventional Plastics
- 4. Key Analytics
- 4.1. Key Market Trends
- 4.1.1. Focus On Heat-resistant Pla Variants
- 4.1.2. Development Of Pla Blends
- 4.1.3. Introduction Of High-performance Pla Grades
- 4.1.4. Rapid Expansion Of End Use Industries Incorporating Pla
- 4.2. Pestle Analysis – United States
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Growth Prospect Mapping – United States
- 4.5. Market Maturity Analysis
- 4.6. Market Concentration Analysis
- 4.7. Value Chain Analysis
- 4.7.1. Raw Material Sourcing
- 4.7.2. Lactic Acid Production
- 4.7.3. Manufacturing Of Pla Products
- 4.7.4. Distribution And Logistics
- 4.7.5. Consumer Usage
- 4.8. Key Buying Criteria
- 4.8.1. Biodegradability And Compostability
- 4.8.2. Certifications And Standards
- 4.8.3. Quality And Performance
- 4.8.4. Cost Competitiveness
- 4.9. Regulatory Framework
- 5. Market By Product Form
- 5.1. Films And Sheets
- 5.1.1. Market Forecast Figure
- 5.1.2. Segment Analysis
- 5.2. Coatings
- 5.2.1. Market Forecast Figure
- 5.2.2. Segment Analysis
- 5.3. Fibers
- 5.3.1. Market Forecast Figure
- 5.3.2. Segment Analysis
- 5.4. Other Product Forms
- 5.4.1. Market Forecast Figure
- 5.4.2. Segment Analysis
- 6. Market By Application (In Terms Of Revenue: $ Million & In Terms Of Volume: Kilometric Tons)
- 6.1. Packaging
- 6.1.1. Market Forecast Figure
- 6.1.2. Segment Analysis
- 6.2. Agriculture
- 6.2.1. Market Forecast Figure
- 6.2.2. Segment Analysis
- 6.3. Electronics
- 6.3.1. Market Forecast Figure
- 6.3.2. Segment Analysis
- 6.4. Textiles
- 6.4.1. Market Forecast Figure
- 6.4.2. Segment Analysis
- 6.5. Medical
- 6.5.1. Market Forecast Figure
- 6.5.2. Segment Analysis
- 6.6. Automotive
- 6.6.1. Market Forecast Figure
- 6.6.2. Segment Analysis
- 6.7. Other Applications
- 6.7.1. Market Forecast Figure
- 6.7.2. Segment Analysis
- 7. Market By Raw Material
- 7.1. Corn
- 7.1.1. Market Forecast Figure
- 7.1.2. Segment Analysis
- 7.2. Sugarcane & Sugar Beet
- 7.2.1. Market Forecast Figure
- 7.2.2. Segment Analysis
- 7.3. Cassava
- 7.3.1. Market Forecast Figure
- 7.3.2. Segment Analysis
- 7.4. Other Raw Materials
- 7.4.1. Market Forecast Figure
- 7.4.2. Segment Analysis
- 8. Competitive Landscape
- 8.1. Key Strategic Developments
- 8.1.1. Mergers & Acquisitions
- 8.1.2. Product Launches & Developments
- 8.1.3. Partnerships & Agreements
- 8.2. Company Profiles
- 8.2.1. Basf
- 8.2.1.1. Company Overview
- 8.2.1.2. Product List
- 8.2.1.3. Strengths & Challenges
- 8.2.2. Danimer Scientific
- 8.2.2.1. Company Overview
- 8.2.2.2. Product List
- 8.2.2.3. Strengths & Challenges
- 8.2.3. Dow Chemicals
- 8.2.3.1. Company Overview
- 8.2.3.2. Product List
- 8.2.3.3. Strengths & Challenges
- 8.2.4. Green Bioplastics
- 8.2.4.1. Company Overview
- 8.2.4.2. Product List
- 8.2.4.3. Strengths & Challenges
- 8.2.5. Mitsubishi Chemical Holding Corporation
- 8.2.5.1. Company Overview
- 8.2.5.2. Product List
- 8.2.5.3. Strengths & Challenges
- 8.2.6. Natureworks Llc
- 8.2.6.1. Company Overview
- 8.2.6.2. Product List
- 8.2.6.3. Strengths & Challenges
- 8.2.7. Thyssenkrupp Ag
- 8.2.7.1. Company Overview
- 8.2.7.2. Product List
- 8.2.7.3. Strengths & Challenges
- 8.2.8. Total-corbion Pla
- 8.2.8.1. Company Overview
- 8.2.8.2. Product List
- 8.2.8.3. Strengths & Challenges
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