Polylactic Acid Market Size, Share, Growth Trends, Industry Analysis and Forecast to 2030
Report ID: RC46021 | Report Format: PDF + ExcelThe global polylactic acid (PLA) market has been projected to grow at the CAGR of 19.5% market during 2017-2025. Polylactic acid is compostable and can be broken down under some conditions into the biodegradable components which make it a preferred material for packaging applications across various industries such as food and beverages and consumer products. The major share of industry usable bioplastic is covered by polylactic acid. The industry preference for polylactic acid over conventional plastic is because of the increasing demand and prices of petroleum and petroleum-based products like synthetic plastics. Bioplastics are synthesized from organic biomass resources like corn, sugarcane, etc. instead of from traditional sources like petroleum.
Market Insights:
Polylactic acid demand is expected to rise due to the scarcity and volatility of the prices of fossil fuels. Also due to the environmental concerns, companies and regulatory bodies are focusing to find a substitute for oil-based products. Polylactic acid is the most common bioplastic in use today and is widely used in packaging applications followed by catering and technical material applications. In terms of volume, polylactic acid accounts for the highest consumed bioplastic. Pollution control and environmental safety are the major reasons for turning towards bioplastic usage rather than conventional plastic synthesized from petroleum.
Market Segment Insights:
In 2019, the demand for polylactic acid is the highest from the packaging applications followed by catering applications. These two segments are projected to maintain their dominance over the coming few years. Demand for polylactic acid from new applications such as three-dimensional printing filament are emerging. Construction application is also one of the prominent applications for PLA. Rising environmental concerns increased awareness about the polylactic acid, and rapidly increasing application use of polylactic acid are the factors triggering the market demand.
Global Polylactic Acid Market Segmentation:
By Application, 2018–2027 ($ Millon)
- Packaging
- Catering
- Technical Material
- Agriculture
- Consumer goods
- Construction Materials
- Others
By Geography, 2018-2027 ($ Millon)
- North America
- Europe
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
Regional Insights:
Europe is the largest market for polylactic acid, environment awareness, and high demand are the major factors driving the market growth. Due to high prices of raw materials, the production cost of PLA is high in Europe. Asia Pacific is the fastest-growing market for PLA due to the availability of raw material and its low cost is one of the major factors triggering market growth. Low awareness and price-sensitive consumers are the factors inhibiting market growth. North America is the second-largest market for PLA. Availability of the raw materials such as corn in abundance is the major factor triggering the market growth.
Market Competition Assessment:
The major players currently operating in the global polylactic acid market include BASF, Henan Piaoan Group Co., Ltd, Hisun, Mitsubishi, Nantong Jiuding Biological Engineering Co.,Ltd., Natureworks Ingeo, Pyramid Technologies, Synbra, Teijin, and Uhde Inventa – Fischer.
List of Key Companies:
- BASF
- Henan Piaoan Group Co., Ltd
- Hisun
- Mitsubishi
- Nantong Jiuding Biological Engineering Co.,Ltd.
- Natureworks Ingeo
- Pyramid Technologies
- Synbra
- Teijin
- Uhde Inventa – Fischer
Key Questions Answered by Polylactic Acid Market Report
- Global polylactic acid market forecasts from 2020-2027
- Regional polylactic acid market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
- Country level forecasts from 2020-2027 covering 15 major countries from aforementioned regions
- Polylactic Acid submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to polylactic acid market
- Analysis of the key factors driving and restraining the growth of the global, regional and country level polylactic acid markets from 2020-2027
- Competitive Landscape and market positioning of top 10 players operating in the polylactic acid market
Request a full report sample to review @ https://www.researchcorridor.com/request-sample/?id=46021
Table of Content:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions
Chapter 2 Executive Summary
2.1 Global Polylactic Acid Market Portraiture
2.2 Global Polylactic Acid Market, by Application, 2019 ($ Million)
2.3 Global Polylactic Acid Market, by Geography, 2019 (Value %)
Chapter 3 Global Polylactic Acid Market Analysis
3.1 Global Polylactic Acid Market Overview
3.2 Major Market Trends and Key Takeaways
3.3 Market Dynamics
3.3.1 Market Drivers
3.3.1.1 Increasing consumer awareness, government incentives and easy availability of raw materials
3.3.2 Challenges
3.3.2.1 Polylactic acid with hygiene properties to provide safety in food packaging
3.3.3 Opportunities
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global Polylactic Acid Market, 2019 (Value %)
Chapter 4 Global Polylactic Acid Market Analysis, By Application, 2018-2027 ($ Million)
4.1 Preface
4.2 Packaging
4.3 Catering
4.4 Technical Material
4.5 Agriculture
4.6 Consumer goods
4.7 Construction Materials
4.8 Others
Chapter 5 Global Polylactic Acid Market, By Geography, 2018-2027 ($ Million)
5.1 Preface
5.1 North America (U.S. & Canada)
5.2 Europe (U.K., Germany & Rest of Europe)
5.3 Asia Pacific (China, Japan, Singapore, South Korea and Rest of APAC)
5.4 Latin America (Mexico, Brazil and Rest of LATAM)
5.5 Middle East and Africa (GCC, and Rest of Middle East and Africa)
Chapter 6 Company Profiles
6.1 BASF
6.2 Henan Piaoan Group Co., Ltd
6.3 Hisun
6.4 Mitsubishi
6.5 Nantong Jiuding Biological Engineering Co.,Ltd.
6.6 Natureworks Ingeo
6.7 Pyramid Technologies
6.8 Synbra
6.9 Teijin
6.10 Uhde Inventa - Fischer
$ 5200/- Multi User License
We understand that every business has unique requirements. This report can be customized based on:
- Deep regional & country-level market intelligence
- Application-specific and end-use industry segmentation
- Competitive landscape & strategic benchmarking
- Go-to-market and expansion strategy insights
- Custom data cuts aligned to your business goals
- Structured Primary Research Framework
- On-Demand Industry Expert Interviews Available
- Dedicated Analyst Support
- Custom Data On Request
- Post-Purchase Strategy Consultation
- Complimentary 30-min Analyst Session
- 30% of Our Clients Are Returning Enterprise Buyers
Our Clients
