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Polylactic Acid (PLA) Market

Polylactic Acid (PLA) Market, Size and Segment By grades (Thermoforming grade, Injection molding grade, Extrusion grade, Blow molding grade, Others) By applications (Rigid thermoforms, Films & sheets, Bottles,  Others) By end-use industries (Packaging, Consumer goods, Agricultural, Textile, Biomedical, Others), by Regions and Global Forecast 2022-2028

Report Id: SNS/C&M/1808 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Polylactic Acid (PLA)  Market Size was valued at USD 1.13 billion in 2021, and is expected to reach USD 2.65 billion by 2028, and grow at a CAGR of 13% over the forecast period 2022-2028.

The polymer of polylactic acid (PLA) is different from the thermoplastic polymers that are usually available. It's mostly made of things that grow back, like sugar cane. PLA is a popular material because it is fairly cheap and, compared to other biodegradable polymers, has a number of good mechanical properties. PLA is mostly made from plant materials like sugar cane, cassava, corn, and potatoes. As possible feedstocks, scientists have looked into agricultural waste, cellulosic materials, and greenhouse gases. But the process is still being worked on, and for the foreseeable future, agricultural products are likely to remain the main source of starch blends and PLA.

Polylactic Acid (PLA) Market Revenue Graph

Market Dynamics:

Drivers:

  • Changing consumer preference toward plastic products that are good for the environment

  • Demand for biodegradable plastic has gone up a lot, and cities are growing quickly.

Restraints:

  • PLA costs more than other kinds of plastic.

  •  The high raw material cost

Opportunity:

  • The making of a new programme

  • The strict rules that the government has put in place

Challenge:

  • Problems with work

Impact of Covid-19:

COVID 19 is a global pandemic that has affected a lot of people. Because of this global pandemic, most people have lost their way of making a living. It has changed the way several industries grow and change. Due to a lack of vaccines, everyone is worried about their immunity and tries to keep their distance from others. With more people living alone and doing things without talking to each other, the demand for packaged goods has gone up a lot. Now, people are more likely to buy packaged food to make sure it is safe and clean. Food and beverages also show significant demand when packed, taking all the necessary measures.

The global pandemic of COVID 19 is good for the market share of polylactic acid all over the world. During the period from 2021 to 2028 that is expected, PLA's market share is also expected to grow.

Key Players:

Hitachi Ltd. (Japan), BASF SE (Germany), Musashino Chemical Laboratory, Ltd. (Japan), The DOW Chemical Company (US), Galactic (Belgium), Sulzer Ltd (Switzerland), NatureWorks LLC (US), Synbra Technology BV (the Netherlands), Corbion (the Netherlands), The DOW Chemical Company (US)

Market Segmentation:

By Grades

  • Thermoforming grade

  • Injection molding grade

  • Extrusion grade

  • Blow molding grade

  • Others

By Applications

  • Rigid thermoforms

  • Films & sheets

  • Bottles

  •  Others

By End-Use Industries

  • Packaging

  • Consumer goods

  • Agricultural

  • Textile

  • Biomedical

  • Others

Polylactic Acid (PLA)  Market Segment Pie Chart

Regional Analysis:

The market has been split into North American, Latin American, Asia-Pacific, European, and Middle East and African regions. The Asia-Pacific region has the biggest share of the global market because it is the fastest-growing region. Also, both the packaging industry and the auto industry have grown steadily in this area. Also, countries in this area, like Japan, South Korea, Singapore, Thailand, Vietnam, India, China, and Malaysia, offer the polylactic acid market a lot of ways to grow.The second-largest share of the market is in the European region.  As Germany, the UK, Spain, France, Russia, and Poland are thought to be the biggest consumer markets in this area. The transportation sector has been growing and changing all the time, and strict rules are also pushing this region forward.

The North American region has the third-largest market share because it is growing steadily. Increasing investment in consumer goods and the electronics industry is also a factor. The fact that the US and Canada are there also helps. The Latin American region, which includes countries like Venezuela, Brazil, and Columbia, has the fourth-largest market share. Also, more money is being spent in the auto and electronics industries. Due to the growth of the textile industry, polylactic acid is also on the rise in the Middle East and Africa.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Polylactic Acid (PLA) Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 1.13 Billion
Market Size by 2028 US$ 2.65 Billion
CAGR CAGR of 13% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By grades (Thermoforming grade, Injection molding grade, Extrusion grade, Blow molding grade, Others)
• By applications (Rigid thermoforms, Films & sheets, Bottles,  Others)
• By end-use industries (Packaging, Consumer goods, Agricultural, Textile, Biomedical, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Hitachi Ltd. (Japan), BASF SE (Germany), Musashino Chemical Laboratory, Ltd. (Japan), The DOW Chemical Company (US), Galactic (Belgium), Sulzer Ltd (Switzerland), NatureWorks LLC (US), Synbra Technology BV (the Netherlands), Corbion (the Netherlands), The DOW Chemical Company (US)
DRIVERS • Changing consumer preference toward plastic products that are good for the environment
• Demand for biodegradable plastic has gone up a lot, and cities are growing quickly.
Restraints • PLA costs more than other kinds of plastic.
• The high raw material cost


Frequently Asked Questions (FAQ) :

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Rigid thermoforms, Films & sheets, Bottles and  Others are the sub-segments of by application segment.

Ans: COVID 19 is a global pandemic that has affected a lot of people. Because of this global pandemic, most people have lost their way of making a living. It has changed the way several industries grow and change. Due to a lack of vaccines, everyone is worried about their immunity and tries to keep their distance from others. With more people living alone and doing things without talking to each other, the demand for packaged goods has gone up a lot. Now, people are more likely to buy packaged food to make sure it is safe and clean. Food and beverages also show significant demand when packed, taking all the necessary measures.

Ans: PLA costs more than other kinds of plastic and The high raw material cost are the restraints for  Polylactic Acid (PLA) Market.

Ans: Polylactic Acid (PLA)  Market Size was valued at USD 1.13 billion in 2021, and expected to reach USD 2.65 billion by 2028, and grow at a CAGR of 13 % over the forecast period 2022-2028.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.Polylactic Acid (PLA)  Market Segment, By grades

8.1 Thermoforming grade

8.2 Injection molding grade

8.3 Extrusion grade

8.4 Blow molding grade

8.5 Others

 

9.Polylactic Acid (PLA)  Market Segment, By applications

9.1 Rigid thermoforms

9.2 Films & sheets

9.3 Bottles

9.4  Others

 

10.Polylactic Acid (PLA)  Market Segment, By end-use industries

10.1 Packaging

10.2 Consumer goods

10.3 Agricultural

10.4 Textile

10.5 Biomedical

10.6 Others

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12. Company Profile

12.1 Hitachi Ltd. (Japan)

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 BASF SE (Germany)

12.3 Musashino Chemical Laboratory, Ltd. (Japan)

12.4 The DOW Chemical Company (US)

12.5 Galactic (Belgium)

12.6 Sulzer Ltd (Switzerland)

12.7 NatureWorks LLC (US)

12.8 Synbra Technology BV (the Netherlands)

12.9 Corbion (the Netherlands)

12.10 The DOW Chemical Company (US)

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

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Secondary Research

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