Polylactic Acid Market Size, Share, Growth Analysis, By Raw Material(Corn Starch-based PLA, Sugarcane-based PLA), By End-user Industry(Packaging, Textiles, Automotive, Electronics), By Application(Films and Sheets, Bottles and Cups, Injection Molding), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2726 | Region: Global | Published Date: February, 2024
Pages: 219 |Tables: 91 |Figures: 76

Polylactic Acid Market Insights

Global Polylactic Acid Market size was valued at USD 1.01 billion in 2021 and is poised to grow from USD 1.89 billion in 2022 to USD 3.11 billion by 2030, growing at a CAGR of 6.42% in the forecast period (2023-2030).

The global polylactic acid (PLA) market has experienced substantial growth in recent years due to the increasing demand for sustainable and eco-friendly materials. PLA, a biodegradable thermoplastic derived from renewable sources such as corn starch or sugarcane, offers several advantages over conventional plastics. The polylactic acid market has witnessed significant growth owing to the rising awareness of environmental concerns and the need for sustainable alternatives to conventional plastics. PLA finds applications in various industries, including packaging, textiles, automotive, electronics, and medical. The market is expected to grow at a substantial CAGR during the forecast period.

End-use sectors such as transportation, agricultural, textile, and packaging are driving up demand for the commodity. In comparison to conventional polymers, polylactic acid, a low carbon emission polymer, has grown rapidly in global demand. Global packaging sector growth is being fuelled by rising demand for flexible packaging. The growing demand for snacks, ready-to-eat meals, packaged foods, and other products is likely to move the packaging business forward. Thus, the expanding packaging industry is expected to drive PLA demand over the forecast period.

Market Snapshot - 2024-2031

Global Market Size

USD 1.01 billion

Largest Segment

Textiles

Fastest Growth

Textiles

Growth Rate

6.42% CAGR

Global Polylactic Acid Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)

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Polylactic Acid Market Segmental Analysis

Based on Raw material type, the market is segmented into Corn Starch-based PLA, Sugarcane-based PLA. Based on End user industry, the market is segmented into Packaging, Textiles, Automotive, Electronics, Medical. Based on Application Type, The Market is segmented into Films and Sheets, Bottles and Cups, Injection Molding. Based on region, the market is segmented into North America, Latin America, Europe, and MEA.

Analysis by Raw Material Type

Software: The software segment comprises deep learning frameworks, platforms, and tools that the raw material segment categorizes polylactic acid based on the source from which it is derived. The two primary raw materials for PLA production are corn starch and sugarcane. Corn starch-based PLA dominates the market due to its wide availability and cost-effectiveness. Corn starch is abundantly produced globally, making it a preferred choice for PLA production. On the other hand, sugarcane-based PLA is gaining popularity due to its superior performance characteristics, including increased strength and heat resistance. Sugarcane-based PLA is considered more sustainable as it relies on a renewable resource.

Analysis by End User Type

The end-use industry segment categorizes the application areas of polylactic acid. The major industries utilizing PLA include packaging, textiles, automotive, electronics, medical, and others. The packaging industry is the largest consumer of polylactic acid due to the increasing demand for sustainable and biodegradable packaging materials. PLA is used in various packaging applications such as films, containers, and disposable cutlery. The textile industry is also witnessing significant growth as PLA fibers are being used in clothing and accessories. PLA textiles offer benefits like breathability, moisture-wicking properties, and eco-friendliness.

Global Polylactic Acid Market By Type, 2022 (%)

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Polylactic Acid Market Regional Insights

North America dominates the polylactic acid market due to several factors. The region has stringent regulations promoting the use of sustainable materials and reducing plastic waste. The United States and Canada are the major contributors to the market growth in North America. The presence of key market players, technological advancements, and increasing consumer awareness about environmental issues drive the demand for polylactic acid in this region.

Europe is a significant market for polylactic acid, driven by the increasing demand for bio-based materials and the focus on reducing carbon emissions. Countries such as Germany, France, and the United Kingdom are witnessing substantial growth in the market. The European Union's regulations and policies supporting sustainable practices and the circular economy have created a favorable environment for the adoption of polylactic acid. The packaging industry, in particular, has been a major consumer of PLA in Europe.

Asia Pacific is experiencing rapid growth in the polylactic acid market. The region's expanding packaging and textile industries, especially in countries like China, Japan, and India, are driving the demand for sustainable materials. The growing population, rising disposable incomes, and increasing environmental awareness are key factors contributing to the market growth in this region. The governments in these countries are also implementing regulations to promote the use of eco-friendly materials, further boosting the demand for polylactic acid.

The Rest of the World region is also witnessing growth in the polylactic acid market. This includes regions such as Latin America, the Middle East, and Africa. The increasing adoption of sustainable materials across various industries and the growing awareness about environmental concerns are driving the market in these regions. Market players are expanding their presence in these emerging markets to cater to the rising demand for polylactic acid.

Global Polylactic Acid Market By Geography, 2022-2030
  • Largest
  • Fastest

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Polylactic Acid Market Dynamics

Drivers

Growing Environmental Concerns and the Need for Sustainable Alternatives to Bolster Sales

  • Increasing environmental awareness and concerns about the detrimental impact of conventional plastics have led to a growing demand for sustainable alternatives. Polylactic acid (PLA), being derived from renewable sources and offering biodegradability, has emerged as a promising solution. The rising focus on reducing plastic waste and carbon footprint is a significant driver for the polylactic acid market.
  • Governments and regulatory bodies worldwide are implementing stringent regulations and policies to promote the use of eco-friendly materials. These regulations drive the adoption of polylactic acid in various industries. For instance, bans on single-use plastics and incentives for using sustainable packaging materials boost the demand for PLA in the packaging sector. The supportive regulatory environment acts as a catalyst for the growth of the polylactic acid market.

Restraints

High Production Costs Compared to Traditional Plastics might Hinder market growth

  • One of the primary challenges for the polylactic acid market is the higher production costs compared to traditional petroleum-based plastics. PLA production involves complex processing methods and requires specialized equipment, which adds to the overall manufacturing expenses. The cost factor can limit the widespread adoption of PLA, especially in price-sensitive markets.
  • Polylactic acid relies on specific raw materials such as corn starch and sugarcane for its production. The availability of these raw materials can be geographically limited, leading to supply chain challenges. In regions where these resources are scarce, sourcing an adequate and consistent supply of raw materials becomes a constraint for the polylactic acid industry. This limitation can affect production volumes and increase costs for manufacturers.

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Polylactic Acid Market Competitive Landscape

  • The Global Polylactic Acid Market is highly competitive, with several players vying for a significant market share. The leading companies in the Automotive Flooring market are investing heavily in research and development to stay ahead of the competition and offer innovative solutions to their customers. Some of the major players in the market have a global presence and offer a wide range of Polylactic Acid catering to various applications such as consumer compatibility, offices, transportation and industrial automation. They are also focused on expanding their product portfolio and enhancing their distribution networks to better serve their customers.

Top Player’s Company Profiles

  • Futerro SA (Europe)
  • Teijin Limited (Asia Pacific)
  • Mitsubishi Chemical Corporation (Asia Pacific)
  • Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)
  • BASF SE (Europe)
  • Danimer Scientific (North America)
  • Synbra Technology BV (Europe)
  • Galactic SA (Europe)
  • Good Natured Products Inc. (North America)
  • Nantong Jiuding Biological Engineering Co., Ltd. (Asia Pacific)
  • Sulzer Ltd. (Europe)
  • Thyssenkrupp AG (Europe)
  • Toyobo Co., Ltd. (Asia Pacific)
  • Uhde Inventa-Fischer AG (Europe)
  • Wuhan Huali Enviro nmental Technology Co., Ltd. (Asia Pacific)
  • Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)
  • Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)

Recent Developments.

In October 2022, Total Energies Corbion (Gorinchem, the Netherlands) has announced a breakthrough in the circular plastics economy by proving that polylactic acid (PLA) bioplastic can be sorted with municipal plastic waste. With the aim of determining the sortability of PLA from municipal mixed plastic waste, TotalEnergies Corbion and TOMRA Recycling conducted a sorting test.

In August 2021, Teijin announced that it had developed a new aramid fiber that is heat-resistant, flame-retardant, and has high strength. The company claims that this fiber can be used in a wide range of applications, including protective clothing, reinforcement materials, and aerospace components.

Polylactic Acid Key Market Trends

  • One prominent market trend is the growing adoption of polylactic acid (PLA) in the packaging industry. As consumer demand for sustainable and eco-friendly packaging solutions continues to rise, PLA has emerged as a preferred alternative to traditional petroleum-based plastics. PLA offers several advantages, including biodegradability, reduced carbon footprint, and compatibility with existing packaging machinery. The packaging industry has witnessed a shift towards sustainable practices due to stringent regulations and increased consumer awareness. Governments worldwide are implementing bans on single-use plastics and promoting the use of eco-friendly materials. This has led to a surge in the demand for PLA-based packaging solutions such as films, containers, and bottles.
  • Researchers and manufacturers are exploring various approaches to enhance the performance characteristics of PLA, such as increasing its heat resistance, mechanical strength, and flexibility. Through modifications in polymer composition and processing techniques, PLA is being tailored to meet specific industry requirements. These advancements are opening doors for new applications of PLA in sectors like automotive, electronics, and medical. Furthermore, the development of efficient and cost-effective production methods is a key trend in the polylactic acid market. Researchers are exploring alternative feedstocks for PLA production, such as algae and waste biomass, to reduce dependence on limited resources like corn starch and sugarcane. Improved fermentation processes and enzymatic modifications are being investigated to optimize production efficiency and reduce manufacturing costs.

Polylactic Acid Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analyses, The polylactic acid market has experienced remarkable growth and transformation as a sustainable alternative to conventional plastics. The market is driven by environmental concerns, regulatory support, and consumer demand for eco-friendly materials. The packaging industry is the largest consumer of PLA, followed by textiles, automotive, electronics, and medical sectors. The market is segmented based on raw material, end-use industry, and application. Regional analysis shows North America, Europe, and Asia Pacific as key regions driving market growth. While there are challenges such as production costs and raw material availability, ongoing technological advancements and product innovations continue to shape the PLA market, creating opportunities for sustainable growth and market expansion. The U.S. dominated the regional market and is anticipated to maintain its dominance over the forecast period.

Because of rising environmental concerns and the need for sustainable alternatives to conventional plastics, the PLA market has grown significantly. Governments and regulatory bodies around the world have enacted stringent regulations and policies to encourage the use of environmentally friendly materials, propelling the adoption of PLA in a variety of industries. The packaging industry, in particular, has emerged as a significant consumer of PLA, driven by the increasing demand for biodegradable packaging materials. Additionally, the textile, automotive, electronics, and medical industries have also embraced PLA due to its desirable properties and environmental advantages.

Report Metric Details
Market size value in 2023 USD 1.01 billion
Market size value in 2031 USD 3.11 billion
Growth Rate 6.42%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Raw Material
    • Corn Starch-based PLA, Sugarcane-based PLA
  • End-user Industry
    • Packaging, Textiles, Automotive, Electronics, Medical
  • Application
    • Films and Sheets, Bottles and Cups, Injection Molding
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Futerro SA (Europe)
  • Teijin Limited (Asia Pacific)
  • Mitsubishi Chemical Corporation (Asia Pacific)
  • Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)
  • BASF SE (Europe)
  • Danimer Scientific (North America)
  • Synbra Technology BV (Europe)
  • Galactic SA (Europe)
  • Good Natured Products Inc. (North America)
  • Nantong Jiuding Biological Engineering Co., Ltd. (Asia Pacific)
  • Sulzer Ltd. (Europe)
  • Thyssenkrupp AG (Europe)
  • Toyobo Co., Ltd. (Asia Pacific)
  • Uhde Inventa-Fischer AG (Europe)
  • Wuhan Huali Enviro nmental Technology Co., Ltd. (Asia Pacific)
  • Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)
  • Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Polylactic Acid Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Polylactic Acid Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Polylactic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polylactic Acid Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polylactic Acid Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Polylactic Acid Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Polylactic Acid Market size was valued at USD 1.01 billion in 2021 and is poised to grow from USD 1.89 billion in 2022 to USD 3.11 billion by 2030, growing at a CAGR of 6.42% in the forecast period (2023-2030).

Top Player’s Company Profiles 'NatureWorks LLC (North America)', 'Corbion N.V. (Europe)', 'Futerro SA (Europe)', 'Total Corbion PLA (Europe)', 'Teijin Limited (Asia Pacific)', 'Mitsubishi Chemical Corporation (Asia Pacific)', 'Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)', 'BASF SE (Europe)', 'Danimer Scientific (North America)', 'Synbra Technology BV (Europe)', 'Galactic SA (Europe)', 'Good Natured Products Inc. (North America)', 'Nantong Jiuding Biological Engineering Co., Ltd. (Asia Pacific)', 'Sulzer Ltd. (Europe)', 'Thyssenkrupp AG (Europe)', 'Toyobo Co., Ltd. (Asia Pacific)', 'Uhde Inventa-Fischer AG (Europe)', 'Wuhan Huali Enviro nmental Technology Co., Ltd. (Asia Pacific)', 'Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)', 'Zhejiang Hisun Biomaterials Co., Ltd. (Asia Pacific)'

Increasing environmental awareness and concerns about the detrimental impact of conventional plastics have led to a growing demand for sustainable alternatives. Polylactic acid (PLA), being derived from renewable sources and offering biodegradability, has emerged as a promising solution. The rising focus on reducing plastic waste and carbon footprint is a significant driver for the polylactic acid market.

One prominent market trend is the growing adoption of polylactic acid (PLA) in the packaging industry. As consumer demand for sustainable and eco-friendly packaging solutions continues to rise, PLA has emerged as a preferred alternative to traditional petroleum-based plastics. PLA offers several advantages, including biodegradability, reduced carbon footprint, and compatibility with existing packaging machinery. The packaging industry has witnessed a shift towards sustainable practices due to stringent regulations and increased consumer awareness. Governments worldwide are implementing bans on single-use plastics and promoting the use of eco-friendly materials. This has led to a surge in the demand for PLA-based packaging solutions such as films, containers, and bottles.

North America dominates the polylactic acid market due to several factors. The region has stringent regulations promoting the use of sustainable materials and reducing plastic waste. The United States and Canada are the major contributors to the market growth in North America. The presence of key market players, technological advancements, and increasing consumer awareness about environmental issues drive the demand for polylactic acid in this region.

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