Germany polylactic acid (PLA) Market is expected to grow at a CAGR of around 18.0% during the forecast period. Germany is one of the major importing and exporting hubs of the bioplastics in the region. Germany is consuming bioplastics in various industries which includes packaging, construction, automotive, textiles, electronic and others. Therefore, with the growth in these industries, demand for bioplastics including PLA is estimated to increase during the forecast period. The German economy has a significant share of the automotive sector with approximately 15-20% of the total economy. The country is known for its quality automobile products and brands.
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The major automobile manufacturer which are headquartered in Germany is Audi, BMW, MAN, Daimler AG, Opel, Porsche, and Volkswagen. Along with OEM, the country has well-renowned supplier base which supplies its products all across the globe. Some major auto-ancillary companies having headquarter in Germany include Bosch, Continental, ZF TRW, Mahle GmbH, Thyssen Krupp and so on. Automobile industry growth is significant in Germany owing to the presence of key players in the industry. Moreover, the demand for bioplastics has increased considerably owing to favourable regulations regarding eco-friendly products in the country.
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The companies in the market include BASF SE, Evonik Industries AG, NatureWorks LLC, and DuPont de Nemours, Inc., Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in October 2019, Evonik introduced world’s first commercial series of bioresorbable PLA-PEG copolymers, RESOMER® PLA-PEG for implantable medical devices.
Market Segmentation
Germany PLA Market by Raw Material
- Corn-based PLA
- Sugar-based PLA
- Cassava-based PLA
- Others
Germany PLA Market by Application
- Packaging
- Construction Material
- Catering and Tableware
- Agricultural Material
- Consumer Goods
- Electronic Material
- Automobile
- Others
Company Profiles
- BASF SE
- DuPont de Nemours, Inc.
- Evonik Industries AG
- Merck KGaA
- Mitsubishi Gas Chemical Co., Inc.
- NatureWorks LLC
- Sulzer Ltd.
- ThyssenKrupp AG
- Toray Industries, Inc.
- weforyou GmbH
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
