An analysis by Triton Market Research has concluded that the European polylactic acid market is expected to grow and expand at a CAGR of 10.61% and 12.43% in terms of revenue and volume, respectively, during the forthcoming period 2019-2028.
The countries evaluated in the Europe polylactic acid market are:
• Italy
• The United Kingdom
• Germany
• Russia
• France
• Spain
• Rest of Europe
The production process of sugar beet helps in the production of polylactic acid. Since Germany has a large production base for this beet, the market is likely to be growing substantially within the projected period. Also, as the raw materials are readily available, they are cost-efficient in nature. There is tremendous growth in the packaging industry in Germany. The rising demand for biodegradable and eco-friendly packaging is driving the studied market in the projected period.
The German government is taking several initiatives to increase awareness among people regarding polylactic acid. These initiatives are leading to an increased demand for this product. The country is a leading exporter of textiles & clothing worldwide. Due to its lightweight fiber, there is an increase in the application of polylactic acid in the textile industry. The packaging sector is another end-user industry fueling the demand for polylactic acid in the country.
In France, the growing packaging, automotive and textile industries are driving the demand for the polylactic acid market. The packaging sector in the country is one of the leading markets, due to the large market size and the growing demand from customers in the country. All these factors are likely to raise the growth of the market in Europe.
Established in 1865, BASF is a leading chemical company in the world. The company provides different products, including chemicals, plastics, dyes and petrochemicals. The company is headquartered in Ludwigshafen, Germany and has a business presence in over 80 countries. Ecovio is a compostable plastic product provided by the company. This is made up of biodegradable materials.
Some prominent companies engaged in the polylactic acid market are Mitsubishi Chemical Holding Corporation, Green Dot Bioplastics, Natureworks LLC, Dow, Danimer Scientific, Innovia Films, Zhejiang Hisun Biomaterials Co Ltd, Thyssenkrupp AG, Synbra Holding BV, Good Natured Products Inc, Total Corbion PLA, Futerro SA, Teijin Limited and BASF SE.