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Polylactic Acid Market Size to Surpass $2466.49 million in 2030

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The polylactic acid market revenue share is set to grow at a yearly rate of 15.9% during 2021-2030 , while its valuation is Projected to jump from $ 573.69 million in 2020 to $2466.49 million in 2030 .

The polylactic acid market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2030 .

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This research report evaluates the polylactic acid market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global polylactic acid market for the period from 2017 to 2030 .

Growth Factors

Increasing focus and initiatives of governments across the globe for the production and use of biodegradable products is major factor driving growth of the global polylactic acid market. Additionally, governments of developed as well as emerging economies are providing subsidies for the production of the polylactic acid which is expected to fuel growth of the target industry in the near future.

Moreover, increasing preferences for the bioplastic over conventional plastic by the stakeholders on account of environmental safety and pollution control is among major factors propelling growth of the global market over the forecast period.

Furthermore, growing demand for the polylactic acid from cosmetic industry for the manufacturing of personal care products such as shampoos, creams and others anticipated to support the target market growth in the next few years.

Raw materials used for the production of PLA are easily available worldwide which is further expected to augment global polylactic acid industry growth in the coming years. Growing awareness among the consumers regarding green packaging, sustainability as well as recyclability are likely to boost the target market growth in future. Nevertheless, emerging applications of polylactic acid is anticipated to create potential opportunities for the growth of the target market.

Market Report Scope

Report Highlights Details
Market Size US$ 2466.49 million by 2030
Growth Rate CAGR of 15.9% from 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Raw Material, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

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This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global polylactic acid market for the forecast period of 2021–2030 . This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global polylactic acid market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

Key Highlights

  • Among the raw material segment, cornstarch segment is dominated the overall market. The sugarcane and sugar beet raw material segment is expected to grow at a significant CAGR during the forecast time-frame.
  • Among the application type, packaging segment accounted for the largest revenue with significant share of around 35% in 2020. This is growth is due to the increasing demand for the packaging from food and beverage industry and cosmetic industries across the globe. Automotive and transport are expected to grow at a significant CAGR during the forecast time-frame.
  • NatureWorks LLC, accounted for a significant share of the global polylactic acids market.
  • The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 35%.
  • U.S. represented the highest share in the North American region primarily due to easy availability of raw material for the production of polylactic acids, along with the favorable government policies for the polylactic acid production in the region.
  • The growth of the polylactic acid industry in the countries of the Europe is attributed to growing adoption of the polylactic acids in the various end use applications. Further, supporting policies for the use of polylactic acids by the European government in the European region is also expected to boost the demand for polylactic acids market in the near future.
  • Asia Pacific anticipated to grow at the maximum CAGR in the forecast period due increasing implementation and focus on the government regulations in account to mitigate environmental concerns in the countries of the region especially in India, China and Japan of the region.

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Competition Landscape

In the final section of the research report, Precedence Research provided the global polylactic acid market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the polylactic acid market include:

  • NatureWorks LLC
  • Corbion Purac
  • Chongqing bofei biochemical products co., ltd.
  • Synbra
  • Futerro
  • Nantong Jiuding Biological Engineering Co. Ltd
  • Hisun Biomaterials

Market Segmentation

By Raw Material

  • Corn starch
  • Sugarcane & sugar beet
  • Cassava
  • Others

By Application

  • Packaging
  • Agriculture
  • Transport
  • Electronics
  • Textiles
  • Others

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Most Asked Questions –

What was the market size value of the polylactic acid in 2020?

What is the expected market size by 2030 ?

What is the polylactic acid market growth?

What are the key factors that positively influence market growth?

Who are the prominent players in the polylactic acid market?

Why Buy this Report?

The purpose of Precedence Research’s polylactic acid market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Polylactic Acids Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5. COVID 19 Impact on Polylactic Acids Market

5.1. Covid-19: Polylactic Acids Industry Impact
5.2. Polylactic Acids Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Polylactic Acids Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Polylactic Acids Market Players to deal with Covid-19 Pandemic Scenario

Chapter 6. Polylactic Acids Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Governments initiatives for the production and use of biodegradable products
6.1.1.2. Increasing preferences for the bioplastic over conventional plastic
6.1.2. Market Restraints
6.1.2.1. Volatility in raw material prices
6.1.3. Market Opportunities
6.1.3.1. Emerging applications of PLA

Chapter 7. Global Polylactic Acids Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Polylactic Acids Market Revenue by Market Players (2017 – 2020)
7.1.1.2. Polylactic Acids Market Revenue Market Share by Market Players (2017 – 2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Geographic Expansion, Raw Material Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of End-users

Chapter 8. Global Polylactic Acids Market, By Raw Material

8.1. Polylactic Acids Market, by Raw Material, 2017 – 2030
8.1.1. Corn starch
8.1.1.1. Market Revenue and Forecast (2017 – 2030)
8.1.2. Sugarcane & sugar beet
8.1.2.1. Market Revenue and Forecast (2017 – 2030)
8.1.3. Cassava
8.1.3.1. Market Revenue and Forecast (2017 – 2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017 – 2030)

Chapter 9. Global Polylactic Acids Market, By Application

9.1. Polylactic Acids Market, by Application, 2017 – 2030
9.1.1. Packaging
9.1.1.1. Market Revenue and Forecast (2017 – 2030)
9.1.2. Agriculture
9.1.2.1. Market Revenue and Forecast (2017 – 2030)
9.1.3. Transport
9.1.3.1. Market Revenue and Forecast (2017 – 2030)
9.1.4. Electronics
9.1.4.1. Market Revenue and Forecast (2017 – 2030)
9.1.5. Textiles
9.1.5.1. Market Revenue and Forecast (2017 – 2030)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2017 – 2030)

Chapter 10. Global Polylactic Acids Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue Forecast by Raw Material(2017 – 2030)
10.1.2. Market Revenue Forecast by Application (2017 – 2030)
10.1.3. U.S
10.1.3.1. Market Revenue Forecast (2017 – 2030)
10.1.4. Canada
10.1.4.1. Market Revenue Forecast (2017 – 2030)
10.2. Europe
10.2.1. Market Revenue Forecast by Raw Material (2017 – 2030)
10.2.2. Market Revenue Forecast by Application (2017 – 2030)
10.2.3. UK
10.2.3.1. Market Revenue Forecast (2017 – 2030)
10.2.4. Germany
10.2.4.1. Market Revenue Forecast (2017 – 2030)
10.2.5. France
10.2.5.1. Market Revenue Forecast (2017 – 2030)
10.2.6. Rest of EU
10.2.6.1. Market Revenue Forecast (2017 – 2030)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue Forecast by Raw Material (2017 – 2030)
10.3.2. Market Revenue Forecast by Application (2017 – 2030)
10.3.3. China
10.3.3.1. Market Revenue Forecast (2017 – 2030)
10.3.4. India
10.3.4.1. Market Revenue Forecast (2017 – 2030)
10.3.5. Japan
10.3.5.1. Market Revenue Forecast (2017 – 2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue Forecast (2017 – 2030)
10.4. LATAM
10.4.1. Market Revenue Forecast by Raw Material (2017 – 2030)
10.4.2. Market Revenue Forecast by Application (2017 – 2030)
10.4.3. Brazil
10.4.3.1. Market Revenue Forecast (2017 – 2030)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue Forecast (2017 – 2030)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue Forecast by Raw Material (2017 – 2030)
10.5.2. Market Revenue Forecast by Application (2017 – 2030)
10.5.3. GCC
10.5.3.1. Market Revenue Forecast (2017 – 2030)
10.5.4. North Africa
10.5.4.1. Market Revenue Forecast (2017 – 2030)
10.5.5. South Africa
10.5.5.1. Market Revenue Forecast (2017 – 2030)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue Forecast (2017 – 2030)

Chapter 11. Company Profiles

11.1. NatureWorks LLC
11.1.1. Company Overview, Business Information, Regional Presence
11.1.2. Product Portfolio Analysis
11.1.2.1. Product Details, Specification, Application
11.1.3. Revenue, Price, and Gross Margin (2017 – 2020)
11.1.4. Recent Developments and Strategies
11.2. Corbion Purac
11.2.1. Company Overview, Business Information, Regional Presence
11.2.2. Product Portfolio Analysis
11.2.2.1. Product Details, Specification, Application
11.2.3. Revenue, Price, and Gross Margin (2017 – 2020)
11.2.4. Recent Developments and Strategies
11.3. Chongqing bofei biochemical products co., ltd.
11.3.1. Company Overview, Business Information, Regional Presence
11.3.2. Product Portfolio Analysis
11.3.2.1. Product Details, Specification, Application
11.3.3. Revenue, Price, and Gross Margin (2017 – 2020)
11.3.4. Recent Developments and Strategies
11.4. Synbra
11.4.1. Company Overview, Business Information, Regional Presence
11.4.2. Product Portfolio Analysis
11.4.2.1. Product Details, Specification, Application
11.4.3. Revenue, Price, and Gross Margin (2017 – 2020)
11.4.4. Recent Developments and Strategies
11.5. Futerro
11.5.1. Company Overview, Business Information, Regional Presence
11.5.2. Product Portfolio Analysis
11.5.2.1. Product Details, Specification, Application
11.5.3. Revenue, Price, and Gross Margin (2017 – 2020)
11.5.4. Recent Developments and Strategies
11.6. Nantong Jiuding Biological Engineering Co. Ltd
11.6.1. Company Overview, Business Information, Regional Presence
11.6.2. Product Portfolio Analysis
11.6.2.1. Product Details, Specification, Application
11.6.3. Revenue, Price, and Gross Margin (2017 – 2020)
11.6.4. Recent Developments and Strategies
11.7. Hisun Biomaterials
11.7.1. Company Overview, Business Information, Regional Presence
11.7.2. Product Portfolio Analysis
11.7.2.1. Product Details, Specification, Application
11.7.3. Revenue, Price, and Gross Margin (2017 – 2020)
11.7.4. Recent Developments and Strategies

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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