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Polylactic Acid Market Size 2021-2030 | Potential Opportunity Is Opening in the Coming Years

The global polylactic acid market size is forecasted to reach around US$ 2466.49 million and is anticipated to grow with a healthy CAGR of 15.9% from 2021 to 2030.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.

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Polylactic acid is primarily produced from the renewable sources and it is specific type of biodegradable thermoplastic. Major crops used for the production of PLA include tapioca, corn, sugarcane & sugar beet. Polylactic acid is commonly preferred for the commercial purpose since it is derived from biomass. Polylactic acid possesses similar properties like other polymers including acrylonitrile butadiene styrene and polypropylene. Major applications of PLA are transport, electronics, textiles, agriculture, and packaging among others. Demand for the polylactic acid is rapidly increasing for the manufacturing of medical devices, plastic bottles, and plastic films. Biodegradable nature of polylactic acid along with its suitable chemical properties has verified it as an ideal choice of material for end user applications. UV resistances, high mechanical resistance, smooth and good appearance, chemical resistance, low level of toxicity are among basic properties of the polylactic acid. Some of the common polylactic acids includes poly-DL-lactic acid, poly-L-lactic acid, and poly-D-lactic acid.

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 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)

Report 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.

Regional Analysis:

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. Further increasing awareness regarding usage of bioplastic and presence of key companies in the country are other important factors to contribute the high market share of the United States over the forecast period. Further Europe is an important market in the polylactic acid.

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. Also, volatility in the petroleum prices and lack of fossile fuels in the Asian countries are other factors responsible for the high demand for polylactic acid in the region. Latin America and the African and Middle Eastern region will display noticeable growth over the forecast period.

Some of the prominent players in the global polylactic acid market are listed as below:

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

In order to better recognize the current status of polylactic acid, and policies adopted by the foremost countries, Precedence Research predicted the future evolution of the polylactic acid market. This research study bids qualitative and quantitative insights on polylactic acid market and assessment of market size and growth trend for potential global market segments.

Major Market Segments Covered:

By Raw Material

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

By Application

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

By Geography

  • North America
      • U.S.
      • Canada
  • Europe
      • Germany
      • France
      • United Kingdom
      • Rest of Europe
  • Asia Pacific
      • China
      • Japan
      • India
      • Southeast Asia
      • Rest of Asia Pacific
  • Latin America
      • Brazil
      • Rest of Latin America
  • Middle East & Africa (MEA)
      • GCC
      • North Africa
      • South Africa
      • Rest of Middle East & Africa

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

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