Polylactic Acid (PLA) Market Forecasts to 2028 – Global Analysis By Grade (Extrusion, Blow Molding), Application (Coatings,Fibre), Distribution Channel, End User, and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $1.01 BN |
|
Projected Year Value (2028) |
US $2.56 BN |
|
CAGR (2021 - 2028) |
14.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Polylactic Acid (PLA) Market is accounted for $1.01 billion in 2021 and is expected to reach $2.56 billion by 2028 growing at a CAGR of 14.2% during the forecast period. Polylactic acid (PLA) material is derived from renewable resources such as corn starch or sugar cane. PLA is relatively cheap with several beneficial mechanical properties compared to other biodegradable polymers, which has made it a popular material.
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Market Dynamics:
Driver:
Consumer preference toward eco-friendly plastic product
Increasing consumer awareness about sustainable plastic solutions and efforts to remove the use of non-biodegradable conventional plastics contribute to the market growth of PLA. Traditionally used petroleum-based plastics take decades to break down or degrade and lay in landfills for a long period. PLA breaks down faster when they are discarded and absorbed back into the natural system. Moreover, the rate of decomposition of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics.
Restraint:
Fluctuation in raw material prices
Raw material prices for the production of polylactic acid have been volatile for the past several years. The polylactic acid markets are projected to be influenced by the fluctuating prices of commodities. The production costs are witnessing a significant increase due to the higher costs of raw materials, transportation, energy consumed, and chemicals, which leads to a reduction in margins for manufacturers.
Opportunity:
Multi-functionalities of polylactic acid
Polylactic acids play an important role as a catalyst in the processing of several industrial products. These acids have typically been used for bulk industrial applications. The market for polylactic acid has witnessed significant growth as it is increasingly used as an alternative for toxic chemicals and plastics, particularly in food & beverages and pharmaceuticals. The application of polylactic acid also witnesses a rise in demand for biopolymers and as ingredients in personal care & cosmetic products.
Threat:
Lack of process-specific technology for the usage of polylactic acid in developing countries
The polylactic acid market is highly consolidated in emerging markets in Asia, Africa, and South America. The usage of polylactic acids in small & medium enterprises has been a challenge due to the lack of resources or the technology and facilities required for the extraction and fermentation of high-quality polylactic acid. So, the lack of proper technology and knowledge acts as a threat to the use of polylactic acids in developing regions.
The thermoforming segment is expected to be the largest during the forecast period
The thermoforming segment is estimated to have a lucrative growth as PLA thermoplastics are completely compostable and biodegradable. They have properties similar to that of petroleum-based resins when converted into sheets for thermoforming. Combined with storage temperature requirements, thermoformed PLA is ideal for food packaging trays for baked goods, fruits, and vegetables.
The rigid thermoforms segment is expected to have the highest CAGR during the forecast period
The rigid thermoforms segment is anticipated to witness the fastest CAGR growth during the forecast period as PLA is a potentially recyclable material, it is gaining market share in the rigid thermoforming segment and rigid packaging is made from paper or fiberboard/paperboard materials. This type of packaging is primarily used in the food packaging and medical industries.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to the availability of low-cost raw materials and labor, coupled with increasing domestic demand and growing awareness about environmental issues.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period owing to increasing demand for ready-to-eat food and packaged food offering convenience and nutritional value, along with the change in consumer lifestyle.
Key players in the market
Some of the key players profiled in the Polylactic Acid (PLA) Market include Zhejiang Hisun Biomaterials Co., Ltd., Total Corbion PLA, Supla, BBCA Biotech, NatureWorks, Musashino Chemical Laboratory, Ltd., Jiangxi Keyuan Bio-Material Co., Ltd., Shanghai Tong-Jie-Liang Biomaterials Co., Ltd., Futerro, Evonik Industries AG, Dow Inc., COFCO, BASF SE and Sulzer.
Key Developments:
In October 2021, Total Corbion PLA launches new Luminy PLA made with chemically recycled post-industrial and post-consumer waste, which it claims is the world’s first commercially available bioplastic product of its kind.
In September 2020, -NatureWorks announced a slate of manufacturing technology projects, including lactide monomer purification efficiency, that will increase the availability of the full Ingeo™ (PLA) biomaterials portfolio by 10 percent.
Raw Materials Covered:
• Sugarcane & Sugar Beet
• Corn
• Cassava
Grades Covered:
• Thermoforming
• Injection Molding
• Extrusion
• Blow Molding
Types Covered:
• PDLA (Poly-D-lactic acid)
• PLLA (Poly-L-lactic acid)
• PDLLA (Poly-DL-lactic acid)
Applications Covered:
• Films and Sheets
• Coatings
• Bottles
• Fibre
• Rigid Thermoforms
Distribution Channels Covered:
• Offline
• Online
End Users Covered:
• Textiles
• Consumer Goods
• Automotive & Transport
• Electronics
• Bio-Medical
• Packaging
• Agriculture & Horticulture
• Industrial
• Pharmaceuticals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Polylactic Acid (PLA) Market, By Raw Material
5.1 Introduction
5.2 Sugarcane & Sugar Beet
5.3 Corn
5.4 Cassava
6 Global Polylactic Acid (PLA) Market, By Grade
6.1 Introduction
6.2 Thermoforming
6.3 Injection Molding
6.4 Extrusion
6.5 Blow Molding
7 Global Polylactic Acid (PLA) Market, By Type
7.1 Introduction
7.2 PDLA (Poly-D-lactic acid)
7.3 PLLA (Poly-L-lactic acid)
7.4 PDLLA (Poly-DL-lactic acid)
8 Global Polylactic Acid (PLA) Market, By Application
8.1 Introduction
8.2 Films and Sheets
8.3 Coatings
8.4 Bottles
8.5 Fibre
8.6 Rigid Thermoforms
9 Global Polylactic Acid (PLA) Market, By Distribution Channel
9.1 Introduction
9.2 Offline
9.3 Online
10 Global Polylactic Acid (PLA) Market, By End User
10.1 Introduction
10.2 Textiles
10.2.1 Diapers and Wipes
10.2.2 Female Hygiene
10.2.3 Personal Care
10.2.4 Clothes
10.2.5 Disposable Garments
10.3 Consumer Goods
10.3.1 Electrical Appliances
10.3.2 Domestic Appliances
10.4 Automotive & Transport
10.5 Electronics
10.6 Bio-Medical
10.6.1 Implants
10.6.2 Medical Plates & Screws
10.7 Packaging
10.7.1 Food Packaging
10.7.2 Non-Food Packaging
10.8 Agriculture & Horticulture
10.8.1 Planter Boxes
10.8.2 Tapes & Mulch Films
10.8.3 Netting
10.9 Industrial
10.10 Pharmaceuticals
10.11 Other End Users
10.11.1 3D Printing Consumables
10.11.2 Tableware and Utensils
10.11.3 Catering
10.11.4 Construction Materials
11 Global Polylactic Acid (PLA) Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Zhejiang Hisun Biomaterials Co., Ltd.
13.2 Total Corbion PLA
13.3 Supla
13.4 BBCA Biotech
13.5 NatureWorks
13.6 Musashino Chemical Laboratory, Ltd.
13.7 Jiangxi Keyuan Bio-Material Co., Ltd.
13.8 Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.
13.9 Futerro
13.10 Evonik Industries AG
13.11 Dow Inc.
13.12 COFCO
13.13 BASF SE
13.14 Sulzer
List of Tables
1 Global Polylactic Acid (PLA) Market Outlook, By Region (2020-2028) ($MN)
2 Global Polylactic Acid (PLA) Market Outlook, By Raw Material (2020-2028) ($MN)
3 Global Polylactic Acid (PLA) Market Outlook, By Sugarcane & Sugar Beet (2020-2028) ($MN)
4 Global Polylactic Acid (PLA) Market Outlook, By Corn (2020-2028) ($MN)
5 Global Polylactic Acid (PLA) Market Outlook, By Cassava (2020-2028) ($MN)
6 Global Polylactic Acid (PLA) Market Outlook, By Grade (2020-2028) ($MN)
7 Global Polylactic Acid (PLA) Market Outlook, By Thermoforming (2020-2028) ($MN)
8 Global Polylactic Acid (PLA) Market Outlook, By Injection Molding (2020-2028) ($MN)
9 Global Polylactic Acid (PLA) Market Outlook, By Extrusion (2020-2028) ($MN)
10 Global Polylactic Acid (PLA) Market Outlook, By Blow Molding (2020-2028) ($MN)
11 Global Polylactic Acid (PLA) Market Outlook, By Type (2020-2028) ($MN)
12 Global Polylactic Acid (PLA) Market Outlook, By PDLA (Poly-D-lactic acid) (2020-2028) ($MN)
13 Global Polylactic Acid (PLA) Market Outlook, By PLLA (Poly-L-lactic acid) (2020-2028) ($MN)
14 Global Polylactic Acid (PLA) Market Outlook, By PDLLA (Poly-DL-lactic acid) (2020-2028) ($MN)
15 Global Polylactic Acid (PLA) Market Outlook, By Application (2020-2028) ($MN)
16 Global Polylactic Acid (PLA) Market Outlook, By Films and Sheets (2020-2028) ($MN)
17 Global Polylactic Acid (PLA) Market Outlook, By Coatings (2020-2028) ($MN)
18 Global Polylactic Acid (PLA) Market Outlook, By Bottles (2020-2028) ($MN)
19 Global Polylactic Acid (PLA) Market Outlook, By Fibre (2020-2028) ($MN)
20 Global Polylactic Acid (PLA) Market Outlook, By Distribution Channel (2020-2028) ($MN)
21 Global Polylactic Acid (PLA) Market Outlook, By Rigid Thermoforms (2020-2028) ($MN)
22 Global Polylactic Acid (PLA) Market Outlook, By Offline (2020-2028) ($MN)
23 Global Polylactic Acid (PLA) Market Outlook, By Online (2020-2028) ($MN)
24 Global Polylactic Acid (PLA) Market Outlook, By End User (2020-2028) ($MN)
25 Global Polylactic Acid (PLA) Market Outlook, By Textiles (2020-2028) ($MN)
26 Global Polylactic Acid (PLA) Market Outlook, By Diapers and Wipes (2020-2028) ($MN)
27 Global Polylactic Acid (PLA) Market Outlook, By Female Hygiene (2020-2028) ($MN)
28 Global Polylactic Acid (PLA) Market Outlook, By Personal Care (2020-2028) ($MN)
29 Global Polylactic Acid (PLA) Market Outlook, By Clothes (2020-2028) ($MN)
30 Global Polylactic Acid (PLA) Market Outlook, By Disposable Garments (2020-2028) ($MN)
31 Global Polylactic Acid (PLA) Market Outlook, By Consumer Goods (2020-2028) ($MN)
32 Global Polylactic Acid (PLA) Market Outlook, By Electrical Appliances (2020-2028) ($MN)
33 Global Polylactic Acid (PLA) Market Outlook, By Domestic Appliances (2020-2028) ($MN)
34 Global Polylactic Acid (PLA) Market Outlook, By Automotive & Transport (2020-2028) ($MN)
35 Global Polylactic Acid (PLA) Market Outlook, By Electronics (2020-2028) ($MN)
36 Global Polylactic Acid (PLA) Market Outlook, By Bio-Medical (2020-2028) ($MN)
37 Global Polylactic Acid (PLA) Market Outlook, By Implants (2020-2028) ($MN)
38 Global Polylactic Acid (PLA) Market Outlook, By Medical Plates & Screws (2020-2028) ($MN)
39 Global Polylactic Acid (PLA) Market Outlook, By Packaging (2020-2028) ($MN)
40 Global Polylactic Acid (PLA) Market Outlook, By Food Packaging (2020-2028) ($MN)
41 Global Polylactic Acid (PLA) Market Outlook, By Non-Food Packaging (2020-2028) ($MN)
42 Global Polylactic Acid (PLA) Market Outlook, By Agriculture & Horticulture (2020-2028) ($MN)
43 Global Polylactic Acid (PLA) Market Outlook, By Planter Boxes (2020-2028) ($MN)
44 Global Polylactic Acid (PLA) Market Outlook, By Tapes & Mulch Films (2020-2028) ($MN)
45 Global Polylactic Acid (PLA) Market Outlook, By Netting (2020-2028) ($MN)
46 Global Polylactic Acid (PLA) Market Outlook, By Industrial (2020-2028) ($MN)
47 Global Polylactic Acid (PLA) Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
48 Global Polylactic Acid (PLA) Market Outlook, By Other End Users (2020-2028) ($MN)
49 Global Polylactic Acid (PLA) Market Outlook, By 3D Printing Consumables (2020-2028) ($MN)
50 Global Polylactic Acid (PLA) Market Outlook, By Tableware and Utensils (2020-2028) ($MN)
51 Global Polylactic Acid (PLA) Market Outlook, By Catering (2020-2028) ($MN)
52 Global Polylactic Acid (PLA) Market Outlook, By Construction Materials (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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