GVR Report cover Polylactic Acid Market Size, Share And Trends Report

Polylactic Acid Market Size, Share And Trends Analysis Report By End Use (Packaging, Agriculture, Transport, Electronics, Textile, Others), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-2-68038-669-1
  • Number of Pages: 113
  • Format: Electronic (PDF)

Report Overview

The global polylactic acid market size was valued at USD 566.74 million in 2021 and is expected to advance at a compound annual growth rate (CAGR) of over 26.6% from 2022 to 2030. Growing demand for the product is mainly driven by the end-use industries such as agriculture, transport, textile, and packaging. Compared to conventional plastics, low carbon emission producing polylactic acid is significantly boosting the demand for the product globally. Rising demand for flexible packaging is fuelling the growth of the packaging industry globally. The increasing need for packaged foods, snacks, and ready-to-eat meals, among others, is substantially propelling the growth of the packaging industry. Thus, the growing packaging industry is further anticipated to create requirements for PLA during the forecast period.

U.S. polylactic acid market size, by end use, 2020-2030 (USD Million)

Amid the global COVID-19 pandemic situation, polylactic acid has widely been used in the production of microwaveable containers, such as disposable cutlery and food containers. Beneficial properties of packaged containers such as aesthetic appeal, better printability, resistance to grease & oil, and others, are positively impacting the growing inclusion of PLA in the formulation of food packaging products globally.

According to The Verge, the growing flexible packaging industry is expected to create significant demand for polylactic acid during the forecast period. Lifestyle changes of consumers, modern retail trades, and the increasing popularity of quick-service restaurants are prominently fueling flexible packaging growth.

Polylactic acid is used in the manufacture of components used in the automotive sector. Polylactic acids are used in applications such as the interior parts and hood under components. This product is known for reducing its carbon footprint owing to its high bio content. It offers numerous properties such as UV resistance, impact resistance, high gloss, dimensional stability, and colorability. These factors make it an alternative to most traditional plastics such as polyethylene terephthalate, polycarbonate, polybutylene terephthalate, acrylonitrile butadiene styrene, and polyamide, which are preferred for automotive engine compartments and interiors.

End-Use Insights

The packaging end-use segment accounted for the largest revenue share of over 36% in 2022, owing to its wide utilization of polylactic acid for manufacturing bottles, jars, and containers, as well as for fresh food packaging. The inclination of consumers towards fill and sustainable packaging issues across the globe is compelling manufacturers to use polylactic acid in packaging. 

Global polylactic acid market share, by end use, 2021 (%)

Packaging is one of the major drivers of PLA in the food packaging industry. PLA plastic bottles are durable, disposable, and possess properties such as transparency and gloss. In addition, a strict ban on single-use plastics in many countries, such as the UK, Zimbabwe, New Zealand, Taiwan, and several states of the U.S. (such as Hawaii, New York, and California), is significantly driving the demand for PLA in packaging end-use.

It can be easily composted as compared to petroleum-based products and does not emit toxic gases on incineration; thus, its demand in this application area is expected to remain strong during the forecast period. Bioplastic packaging, including rigid packaging and loose-fill packaging among others, has witnessed considerable regulatory support on account of the need for reducing greenhouse gas (GHG) emissions.

Textile is another important sector having high market penetration and a high growth rate, as polylactic acid offers smooth and pleasant fabrics. In addition, PLA provides excellent moisture, drapability, breathability, and durability. These benefits are anticipated to propel the inclusion of PLA in the textile industry during the forecast period.

Regional Insights

North America accounted for the largest regional share of over 42% in 2021. This large share is attributed to the growing demand for bioplastics, which is one of the largest markets for polylactic acid, followed by the Asia Pacific. The North American market is expected to be driven by the growing demand for bioplastics, propelled by initiatives promoting environmentally-friendly products.

The polylactic acid market in the Asia Pacific is expected to grow rapidly owing to major driving factors including lack of resources for fossil fuels, increasing demand for PLA from developing countries such as Indonesia, Malaysia, and Thailand, and fluctuating petroleum prices. China led the Asia Pacific PLA market, in terms of volume and revenue, in 2020. The PLA market in Asia Pacific is primarily driven by the ascending demand for the product from key industries including automobile & transport, electronics, textile, packaging, appliance, and medical.

This region is expected to dominate the packaging market during the forecast period due to the expanding food & beverage sector, particularly in India and China. Increasing demand for packaged food along with rising disposable income is estimated to propel the demand for flexible packaging during the forecast period. The robust growth of the healthcare sector in Europe is likely to trigger the demand for pharmaceuticals, thereby positively influencing the demand for flexible packaging. This, in turn, is expected to propel market growth in the coming years.

Key Companies & Market Share Insights

The companies in the market compete on the basis of the quality of products offered. Prominent players compete based on raw materials and technological advancements used for the production of polylactic acid. For instance, NatureWorks LLC is one of the leading manufacturers of PLA, which is focusing on technological advancement for the production of PLA. The company is assessing the latest technology to skip feedstock derived from plants and instead use microorganisms to directly convert greenhouse gases into lactic acid for PLA production.

The companies in the market are involved in new product development and partnership to cater to a wide range of customers across the globe. For instance, in March 2019, NatureWorks LLC introduced Ingeo 3D450, a new formulation for use in dual extrusion 3D printers, that is designed to work with grades 3D850 and 3D870 of the Ingeo 3D series and developed for the professional printing market.

Manufacturing companies operating in the polylactic acid market emphasize highly on expanding their global footprint in an attempt to increase market shares and drive their revenues. They are establishing production facilities in Asia Pacific owing to the easy availability of cheap labor and close proximity to raw material suppliers. For instance, in 2019, Futerro expanded its geographical presence and built a lactic acid and PLA plant in China. Furthermore, the richness of biomass, research-driven resources, strong downstream industry demand, material supply, and supporting government policy has created significant bioplastic business opportunities in Thailand.

Some of the key players in the global polylactic acid market include:

  • Total Corbion PLA

  • Nature Works LLC

  • SUPLA (JIANGSU SUPLA BIOPLASTICS CO., LTD.)

  • Futerro

  • COFCO

  • Jiangxi Keyuan Bio-Material Co., Ltd.

  • Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.

  • Zhejiang Hisun Biomaterials Co., Ltd.

 

Polylactic Acid Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 624.9 million

Revenue forecast in 2030

USD 2,709.61 million

Growth Rate

CAGR of 26.6% from 2022 to 2030

Base year for estimation

2021

Historical data

2019 - 2020

Forecast period

2022 - 2030

Quantitative units

Volume in tons and revenue in USD million & CAGR from 2022 to 2030

Report coverage        

Volume forecast, revenue forecast, competitive landscape, growth factors, and trends

Segments covered

End-use, Region

Regional scope

North America; Europe; Asia Pacific; Southeast Asia; Central & South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; UK; France; Italy; Netherlands; China; India; Japan; Malaysia; Indonesia; Philippines; Brazil

Key companies profiled

Total Corbion PLA; NatureWorks LLC; SUPLA(JIANGSU SUPLA BIOPLASTICS CO.. LTD.); Futerro; COFCO; Jiangxi Keyuan Bio-Material Co. Ltd; Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.; Zhejiang Hisun Biomaterials Co., Ltd.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, Grand View Research has segmented the global polylactic acid market report on the basis of end-use and region:

  • End-use Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

    • Packaging

    • Agriculture

    • Automotive & Transport

    • Electronics

    • Textile

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Netherlands

    • Asia Pacific

      • China

      • India

      • Japan

      • Indonesia

      • Malaysia

      • Philippines

    • Central & South America

      • Brazil

    • Middle East & Africa

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.