Polylactic acid (PLA) is one of the most potential applications of lactic acid. It is a biodegradable lactic acid based polymer. It is the most common bio plastic in use today. It is widely used in packaging application followed by catering and technical material applications.
In 2014, more than 80% of the global polylactic acid were produced by six major manufacturers. Natureworks is one of the largest manufacturers of PLA and accounts for more than 30% share of the market pie.
Purpose of the Report
The purpose of this strategic research study titled “Global Polylactic Acid Market” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global polylactic acid market.
Target Audience
USP and Key Offerings
This report analyses the worldwide markets for polylactic acid in USD million & killion tons by the following application types – packaging, catering, technical material, agriculture, consumer goods, construction materials & others. The report provides separate comprehensive analytics for the North America, Europe, Asia-Pacific and Rest of World (RoW). Annual estimates and forecasts are provided for the period 2014 through 2023 and market growth rate is calculated from 2015 to 2023. Market data and analytics are derived from primary and secondary research. We have considered demand side approach of the market. Competitive analysis is primarily based on public domain information including company URLs and company annual report.
Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global polylactic acid market, of growth offering market size and estimates for the period from 2015 to 2023, keeping in mind the above mentioned factors.
In 2014, demand for polylactic acid is highest from the packaging applications followed by catering applications. These two segment 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 application 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.
Europe is the largest market for polylactic acid (PLA), 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 availability of raw material and its low cost is one of the major factor triggering the market growth.
Low awareness and price sensitive consumer are the factors inhibiting the 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.
At present, polylactic acid (PLA) is the most widely used bioplastic. It is considered to be one of the most potential applications of lactic acid. First, corn or other raw materials are fermented to produce lactic acid, and then polymerized take place to manufacture polylactic acid (PLA). Bioplastics are projected to make major contributions to protect the environment, as they reduce CO2 and their biodegradable nature. The range of applications for bioplastics is increasing rapidly, from packaging for foods and cosmetics to materials used in automobile interiors, to agricultural sheeting, to household appliances.
Polylactic acid (PLA) can be manufactured by two ways from lactic acid. In the first method, cyclic lactic acid dimer called lactide as an intermediate stage and the second method includes direct polymerization of lactic acid. In this method, by using the lactide intermediary the polylactic acid (PLA) are produce with greater molecular weight.
Some of the properties of polylactic acid are, it is insoluble in water, moisture and grease resistant. It is compostable and biodegradable. Requires 20% to 50% less fossil fuels to produce than regular plastics. Its physical properties are comparable to polyethylene terephthalate (PET). It possess glossiness and clarity similar to its other plastics counterparts.
At present, in the plastic market, PLA is one of the most prominent options. In 2010, the worldwide demand for polyester was more than 40 million tons. If PLA substitutes only for part of this market, the sales potential for the bioplastic would be immense. The PLA used made from renewable raw materials helps to conserve fossil resources such as oil. In Europe, for instance, more than 1.2 million tons of polyester a year could be replaced by bioplastics over the coming decade. Which would be equal to approximately 5% of the European plastic packaging market.
The market for polylactic acid is witnessing growth on the back of rapidly increasing end use applications along rising awareness in the emerging economies. It offers great potential above all for short-lifespan packaging such as fruit and vegetable trays and yoghurt pots. More than 70% of the PLA packaging material are used in plastic bags packaging and films. However, availability of the raw materials and volatility in their prices is one of the major concern in this market. Emerging wide range of new applications provides huge opportunity for the PLA market.
In 2014, 90% of the polylactic acid used came from six major manufacturers. Natureworks is one of the largest manufacturers of polylactic acid and accounts for more than 20% share of the market pie. Some of the other major players present in this market are Synbra, Pyramid, Teijin, Hisun and Uhde Inventa – Fischer among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Polylactic Acid (PLA) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
