Global Polylactic Acid Market Research Report: Forecast (2024-2030)

Polylactic Acid Market - By Product Form (Films and Sheets, Pellets, Fibers, Others), By End Users (Packaging, Textiles, Agriculture, Electronics, Consumer Goods, Others) and Other......s Read more

  • Chemicals
  • Oct 2023
  • 187
  • PDF, Excel, PPT

Market Definition

Polylactic Acid (PLA), is a biodegradable and bioactive thermoplastic polymer that is derived from renewable resources including sugarcane, starch, etc. Owing to its biodegradable properties PLA is gaining wider momentum across end-user industries globally such as packaging, agriculture, healthcare, etc., to reduce the global environmental footprint.

Market Insights & Analysis: Global Polylactic Acid Market (2024-30):

The Global Polylactic Acid Market was valued at USD 98.5 Million in 2022 and it is estimated to grow at a CAGR of about 15.5% during the forecast period, i.e., 2024-30. The market growth imputes to the surging concern of global economies to curb plastic pollution by adopting the use of eco-friendly alternatives. Countries across North America, Europe, and Asia-Pacific are witnessing tightening of their regulation regarding the use of single-use plastics, as these economies face high plastic clogging in public spaces, such as rivers and beaches, etc., causing extensive environmental damage.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 15.5%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled Total Corbion PLA, Nature Works LLC, COFCO, Futerro, Jiangxi Keyuan Bio-Material Co., Ltd., Zhejiang Hisun Biomaterials Co., Ltd., Shanghai Tong-Jie-Liang Biomaterials Co., Ltd., Sulzer Ltd, BASF SE, Danimer Scientific, Toray Industries, INC, Evonik Industries, Unitika Ltd., Mitsubishi Chemicals, Other
Market Value (2022) USD 98.5 Million

 

Additionally, this plastic waste is often incorrectly dumped which causes choking of the drain, thereby leading to frequent floods. To cope with this situation major economies like Germany, Netherlands, etc., export their plastic waste to Asia-Pacific economies for processing or dumping, However, as 100% of recycling and disposal of plastic remain unattained, it is continuing to impact the environment and diversity of global economies. Thus, economies are now transitioning to use sustainable plastics across textile, medical devices, agriculture & and packaging industries, to ensure environmental sustainability. These factors are anticipated to promote substantial demand for Polylactic acid across economies globally.

Global Polylactic Acid Market Driver:

Increasing Automotive Production Amplifies the PLA Demand – Over the past few years, automotive manufacturing companies have been focussing on the expansion of their manufacturing capabilities across countries such as China, Japan, India, the UAE, etc. This expansion has been playing a vital role in the automotive industry expansion. The major automotive manufacturers have set up their production units in China and Southeast Asian countries due to lower labor costs, favorable taxation policies, availability of raw materials, and efficient supply chains. For instance,

  • In 2022, BMW partnered with Truong Hai Auto Corporation (THACO) to expand its production of BMW vehicles in Vietnam.

Hence, the expansion of the automotive production units has been expanding the demand for Polylactic acid (PLA) used in automotive components during the historical years. This demand from the automotive industry has been majorly influenced by their rising inclination toward sustainable products. Further, as more companies expand their production units, the demand for PLA would amplify in the forthcoming years as well.

  1. Market Segmentation
  2. Introduction
    1. Product Form Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Polylactic Acid Market Trends & Developments
  5. Global Polylactic Acid Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Polylactic Acid Market Hotspot and Opportunities
  7. Global Polylactic Acid Market Regulations, Policies & Product Form Standards
  8. Global Polylactic Acid Market Supply Chain Analysis
  9. Global Polylactic Acid Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Size & Analysis
      1. By Product Form
        1. Films and Sheets- Market Size & Forecast 2019-2030, USD Million
        2. Pellets- Market Size & Forecast 2019-2030, USD Million
        3. Fibers- Market Size & Forecast 2019-2030, USD Million
        4. Others (Filaments, Granules, etc.) - Market Size & Forecast 2019-2030, USD Million
      2. By End Users
        1. Packaging- Market Size & Forecast 2019-2030, USD Million
        2. Textiles - Market Size & Forecast 2019-2030, USD Million
        3. Agriculture- Market Size & Forecast 2019-2030, USD Million
        4. Electronics- Market Size & Forecast 2019-2030, USD Million
        5. Consumer Goods- Market Size & Forecast 2019-2030, USD Million
        6. Others (Medical, Automotive, etc.) - Market Size & Forecast 2019-2030, USD Million
      3. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      4. By Competition
        1. Competition Characteristics
        2. Market Share & Analysis
  10. North America Polylactic Acid Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Form- Market Size & Forecast 2019-2030, USD Million
      2. By End Users- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users- Market Size & Forecast 2019-2030, USD Million
    4. Canada Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    5. Mexico Polylactic Acid Market Outlook, 2019-2030F
      1. By Product Form- Market Size & Forecast 2019-2030, USD Million
      2. By End Users - Market Size & Forecast 2019-2030, USD Million
  11. South America Polylactic Acid Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Form- Market Size & Forecast 2019-2030, USD Million
      2. By End Users- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. Brazil
        2. Rest of South America
    3. Brazil Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
  12. Europe Polylactic Acid Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Form- Market Size & Forecast 2019-2030, USD Million
      2. By End Users- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. Germany
        2. The UK
        3. France
        4. Spain
        5. Italy
        6. Rest of Europe
    3. Germany Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    4. The UK Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    5. France Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    6. Spain Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    7. Italy Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
  13. The Middle East & Africa Polylactic Acid Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Form- Market Size & Forecast 2019-2030, USD Million
      2. By End Users- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of Middle East & Africa
    3. The UAE Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    4. Saudi Arabia Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    5. South Africa Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
  14. Asia-Pacific Polylactic Acid Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Product Form- Market Size & Forecast 2019-2030, USD Million
      2. By End Users- Market Size & Forecast 2019-2030, USD Million
      3. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Rest of Asia Pacific
    3. China Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    4. Japan Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    5. India Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    6. South Korea Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
    7. Australia Polylactic Acid Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Product Form- Market Size & Forecast 2019-2030, USD Million
        2. By End Users - Market Size & Forecast 2019-2030, USD Million
  15. Global Polylactic Acid Market Key Strategic Imperatives for Success & Growth
  16. Competitive Outlook
    1. Company Profiles 
      1. Total Corbion PLA
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Nature Works LLC
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. COFCO
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Futerro
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Jiangxi Keyuan Bio-Material Co., Ltd.
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Zhejiang Hisun Biomaterials Co., Ltd.
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Sulzer Ltd
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. BASF SE
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Danimer Scientific
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Toray Industries, INC
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Evonik Industries
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. Unitika Ltd.
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. Mitsubishi Chemicals
        1. Business Description
        2. Product Form Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Others
  17. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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