Polylactic Acid Market to Surpass US$ 3.1 Bn by 2032 Amid Burgeoning Demand for Sutures and Stents in Healthcare Sector – Future Market Insights, Inc.

December 29, 2022

DUBAI, United Arab Emirates, Dec. 29, 2022 (GLOBE NEWSWIRE) -- As per a recent research report by FMI, a market research and competitive intelligence provider, sales of polylactic acid (PLA) market are estimated to reach a value of US$ 3.1 Bn by 2032, surging at 11.9 % CAGR throughout the evaluation period from 2022 to 2032. Growing demand for PLA in the manufacturing of bio-based, biodegradable plastics is a key trend that is boosting the market. Over the last few years, companies in both developing and developed economies have increased their production of bioplastics. Growing demand for PLA in the manufacturing of sutures and stents is another factor that is likely to propel medical advancements across the globe. To Get Sample Copy of Report Visit@ There is an increasing demand for PLA-based products owing to their multiple functionalities. Also, there has been a rise in terms of new players in the market. There are also many small-scale players that are concentrating more on innovation than sales. Leading manufacturers that have a significant global presence have increased mergers and acquisitions with small-scale companies to expand their product portfolios and supply their products to a larger consumer base. Some of the key players are also acquiring advanced manufacturing plants to increase their production capacity. Growing trend for green packaging, which is environmentally friendly, is also likely to drive growth in the global polylactic acid market in the projected time frame. Key Takeaways from the Polylactic Acid Market Study During the historical period between 2017 and 2021, demand for polylactic acid grew steadily at a CAGR of 9.8%.North America polylactic acid market is estimated to generate a share of around 29.5% in the forecast period.Sales of polylactic acid in China is projected to grow at 10.7% CAGR between 2022 and 2032.Demand for polylactic acid is expected to grow at 12.8% CAGR between 2022 and 2032 in Europe.Based on end use, the 3D printing segment is projected to generate a revenue share of about 44.4% in 2022. "Increasing adoption of polylactic acid in the medical industry for the development of implants, screws, and stitching materials is estimated to augur well for the global market. Besides, automakers are set to use polylactic acid for the manufacturing of tires to reduce fuel consumption,” says a lead analyst at FMI. Ask an Analyst@ Competitive Landscape: Polylactic Acid Market Polylactic acid has a strong competitive global market. Introducing new blends with polylactic acid, multiple functionalities of PLA across several industries, and growing awareness about environmentally friendly products are some of the main drivers pushing market expansion. Some of the leading companies offering polylactic acid include Toray Industries Inc., Stora Enso Oyj., Amcor Plc, LG Chem and ADM (JV), Evonik Industries AG, Total-Corbion PLA, Henan Jindan Lactic Acid Co. Ltd., NatureWorks LLC, Galactic, and Sulzer Chemtech among others. Get More Valuable Insights into Polylactic Acid Market Future Market Insights, in its new offering, provides an unbiased analysis of the polylactic acid market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study incorporates compelling insights on the polylactic acid market by product type (films, sheets, coatings, fibres), by end use (packaging, biomedical, 3d printing), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, APEJ, and MEA). Market Segments Covered in Polylactic Acid Market Analysis By Product Type: FilmsSheetsCoatingsFibers By End Use: PackagingBiomedical3D Printing By Region: North AmericaLatin AmericaEuropeMiddle East and AfricaEast AsiaSouth AsiaOceania Buy Now: Table of Content 1. Executive Summary     1.1. Global Market Outlook     1.2. Demand-side Trends     1.3. Supply-side Trends     1.4. Technology Roadmap Analysis     1.5. Analysis and Recommendations 2. Market Overview     2.1. Market Coverage / Taxonomy     2.2. Market Definition / Scope / Limitations Read Full Report@ Explore FMI’s Extensive Coverage On Food and Beverage Domain: Superfood Powders Market Size : By 2022, the market for superfood powders is projected to be worth USD 6,750.0 Mn, growing at a CAGR of 7.2% from 2022 to 2032. In 2032, the global superfood powders market, estimated at USD 13,528.6 Mn, will likely account for about 35% of sales of superfood powders. Lentil Protein Market Demand : By 2032, the market for lentil protein is projected to be worth USD 123.4 million, growing at a CAGR of 4.9% between 2022 and 2032. The global lentil protein market, estimated at USD 191.2 Mn in 2032, is expected to see sales of lentil protein isolate make up about 28% of total demand. Lupin Protein Market Growth : According to recently released statistics, the global lupin market size was predicted to be USD 89 million in 2022 and to increase at a CAGR of 5.1% from 2022 to 2032. By 2032, the market for lupin is anticipated to be worth UAD 142.4 million. Yellow Pea Protein Market Analysis : By 2022, the market for yellow pea protein is projected to be worth USD 341.3 million, growing at a CAGR of 4.3% between 2022 and 2032. Sales of yellow pea protein isolates are anticipated to make up 33.2% of the market's demand, which is expected to be worth USD 521.4 Mn in 2032. Spice Oils And Oleoresins Market Share:  The Global Spice Oils and Oleoresins Market is expected to reach a market valuation of USD 1,428.2 Mn by the year 2032, accelerating with a CAGR of 6.6% by 2022-2032. About Future Market Insights, Inc. Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. 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