The market has been estimated at USD 506.3 million in 2015 and is projected to reach USD 1,287.4 billion by 2020, at a CAGR of 20.52% during the forecast period from 2015 to 2020. Extruded Polylactic Acid fiber is used as a renewable substitute for polyester and nylon. Polylactic acid is made from fermentation of cornstarch, sugar cane bagasse, tapioca roots, etc. This polylactic acid pellets are extruded in the form of fiber by melt spinning process where the extruded hot polymer is exposed to cool medium and sets by solidification.
Extruded Polylactic Acid fiber have a wide variety of applications in transportation, textile, packaging, healthcare and others. Extruded Polylactic Acid fiber can be observed in everyday life and are used for industrial, commercial and personal use. Various major companies around the world manufacture them. Active clothing, fish nets, automotive upholstery are some of the products that can be made from the polylactic acid fiber.
The market is expected to be driven by growing demand for renewable eco-friendly alternatives for synthetic fibers. The growing demand for polylactic acid fiber from developing nations is a major boost for the growth of the market. However, the price competitiveness to synthetic fibers is not yet established and nature derived fibers are considered to be an expensive alternative, especially at the current oil prices.
The extruded polylactic acid fiber market has also been geographically segmented into APAC, North America, Europe, South America and MEA. In terms of consumption in 2015, APAC led the market. It was followed by North America and Europe. This high usage is driven by a rapid growth in industrialization that occurred chiefly due to the economic stability and resource availability in developing countries of China and India.
Company profiles of the major Architectural Coating manufacturers been discussed in this study. These include BASF, Bayer, DuPont, Dow, Natureworks and Toray among others.
Key Deliverables in the Study