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North America Polylactic Acid Market Forecast 2019-2028

The North America polylactic acid market is estimated to evolve at a CAGR of 14.34% in terms of volume, and 12.42% in terms of revenue during the forecast period of 2019-2028. The development of the healthcare infrastructure is contributing remarkably to market growth in the region.

The North America polylactic acid market growth is surveyed through the countries of the United States and Canada. In Canada, the Polylactic acid market is primarily directed by the packaging and consumer goods sector. The market is anticipated to grow during the forecast period, due to government regulations on plastic products. Canadian cities, such as Montreal, Victoria, and Vancouver, have reduced the usage of plastic in the packaging sector. This has provided an opportunity for a rise in demand for polylactic acid in different applications. The Canadian federal government banned the sale of toothpaste, facial scrubs, and shower gels containing plastic microbeads in the consumer goods sector, effective from July 1, 2018. The small pieces of plastic, less than 5 mm in size, are used in toiletries as cleansers and exfoliants. These beads are dissoluble and are consumed by a variety of organisms when they finally reach into rivers, lakes, and oceans, and can be replaced by PLA. Furthermore, polylactic acid is increasingly used in the form of a blood pressure cuff shield in the healthcare sector. Moreover, the transportation industry is also viewing a steady growth rate, as Canada has a distinguished automotive supply sector consisting of the world's largest companies manufacturing auto parts. This will increase the consumption of polylactic acid, thereby encouraging market growth in the region.

Some of the well-known players operating in the market are Danimer Scientific, NatureWorks LLC, Dow Chemicals, Good natured Products Inc, Green Dot Bioplastics Inc, etc.

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North America Polylactic Acid Market Forecast 2019-2028
Published By :Inkwood Research
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