The global polylactic acid market size is expected to gain momentum by reaching USD 2,306,708.2 thousand by 2028 while exhibiting an impressive CAGR of 16.3% between 2021 and 2028. The report further mentions that the market stood at USD 698,200.9 thousand in 2020. The growth is attributable to the rising packaging industry and the growing demand for biodegradable plastics that will propel the demand for advanced polylactic acid during the forecast period.
Information source:
https://www.fortunebusinessins....ights.com/polylactic
Market Segmentation:
We have segmented the market based on application and region. On the basis of application, the market is divided into packaging, textiles, consumer Goods, agriculture & horticulture, and others. Additionally, based on application, the packaging segment is expected to experience considerable growth due to the increasing adoption of polylactic acid for food packaging and the growing focus on adopting biodegradable plastics as packaging materials by several industries globally.
What does the Report include?
The global market for polylactic acid report includes a detailed analysis using several research methodologies and focuses on crucial aspects such as leading companies, application, and product. It further includes accurate insights into latest market trends and highlights vital industry developments. In addition to this, the report covers various factors that have contributed to the growth of the market growth between 2021 and 2028.
DRIVING FACTORS
Rising Packaging Industry to Favor Market Growth
According to the United Nations Joint Group of Experts on the Scientific Aspects of Marine Pollution (GESAMP), it is estimated that around 80% of the land-based plastic sources account for the overall marine pollution globally. The rising concerns over the disposal of plastic is expected to boost the adoption of biodegradable plastics such as polylactic acid that are derived from biological raw materials across the packaging sector. The increasing adoption of sustainable packaging materials backed by the surging demand for packaged goods across supermarkets and retail stores is, therefore, expected to bode well for the global polylactic acid market growth during the forecast period.
![Polylactic Acid Market Size & Share | Global Report [2021-2028]](https://wego.social/upload/photos/2022/07/2DAdqOdI7Eteqbjapv7c_url_image.jpg)
The global wax market is set to gain impetus from their increasing usage in a wide range of applications, such as plastic & rubber additives, candle manufacturing, cosmetics, adhesives, polishes, and coatings. Wax also provides protection to packaged goods from moisture. This information is given by Fortune Business Insights™ in a recent report, The report further mentions that the wax market was valued at USD 7,288.9 million in 2019 and is expected to reach USD 9,249.2 million by 2027, thereby exhibiting a CAGR of 3.1% during the forecast period.
Information source: https://www.fortunebusinessins....ights.com/wax-market
The global face shields market size is expected to gain momentum by reaching USD 1,642.1 million by 2028. Fortune Business Insights in its latest report, titled “Face Shields Market, 2021-2028.”, observes that the market stood at USD 832.3 million in 2020 and is projected to exhibit a CAGR of 8.8% between 2021 and 2028. This is attributable to the increasing awareness regarding industrial occupational hazards that is likely to surge the demand for the product.
Information Source -https://www.fortunebusinessins....ights.com/face-shiel
Market Segmentation:
Based on the product, the global market is bifurcated into a full face shield and half face shield. On the basis of type, the market is divided into reusable and disposable. Furthermore, on the basis of the end-user industry, the market is classified into manufacturing, construction, oil & gas, chemical, food, pharmaceutical, transportation, and others. Lastly, on the basis of region, the market is segregated into North America, Europe, Latin America, the Middle East and Africa, and Asia-Pacific.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTORS
Increasing Awareness Regarding Occupational Hazards to Aid Growth
According to the Occupational Safety and Health Administration (OSHA), eye accidents cost more than USD 300 million annually in medical costs. Additionally, according to the National Institute for Occupational Safety and Health (NIOSH), eye injuries at the workplace occur due to small particles or objects such as wood chips, metal slivers, or dust striking or rubbing the eye. To prevent such hazards, the government agencies and the companies are creating awareness regarding the safety of the workers. This is anticipated to contribute to the global face shields market growth in the forthcoming years.
![Face Shields Market Size | Global Industry Forecast [2021-2028]](https://wego.social/upload/photos/2022/07/9BOWzHqpbsuThHChLOCx_url_image.jpg)
The global aramid fiber market size is projected to reach USD 7,243.3 million by the end of 2027. The presence of several large-scale companies will contribute to the growth of the market in the coming years. According to a report published by Fortune Business Insights, the market was worth USD 4,522.6 million in 2019 and will exhibit a CAGR of 6.5% during the forecast period, 2020-2027.
Information source: https://www.fortunebusinessins....ights.com/aramid-fib
Aramid fibers are widely used across diverse industry applications, mainly due to their exceptional physical properties. The product is characterized by mechanical strength and excellent resistance to external factors including pressure and humidity. As this is a manmade fiber, availability is not an issue. The increasing demand for the product has led to the presence of several large scale manufacturing units across the world. The presence of several large scale manufacturers will have a direct impact on the growth of the overall market in the forthcoming years. Besides this, properties such as low flammability and good fabric integrity will contribute to the growing adoption of these fibers across diverse industry verticals in several countries.
Increasing Number of Product Innovations will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the increasing demand for the product, there is healthy market competition across the world. Among all factors, the increasing number of product innovations has had the highest impact on the growth of the overall aramid fiber market in recent years. In September 2018, Snow Peak announced the launch of a new product through the integration of aramid fiber. The company introduced a new material fabric that is directed for use in outdoor apparel. The applications of aramid fiber are not limited to a single domain and this has been a major contributor to market growth. The increasing number of such product innovations will have a huge impact on the growth of the overall market in the forthcoming years.
![Aramid Fiber Market Size, Share | Global Industry Forecast [2027]](https://wego.social/upload/photos/2022/06/6z648YRrbscU3qtHLN5J_url_image.jpg)
The market was worth USD 7,765.7 Thousand in 2019 and will exhibit a CAGR of 3.8% during the forecast period, 2020-2027. The global silt curtain market is projected to reach USD 10,271.8 Thousand by the end of 2027. Increasing demand for the product owing to widespread applications will emerge in favor of market growth.
Information Source:
https://www.fortunebusinessins....ights.com/silt-curta
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