GLOBAL POLYLACTIC ACID MARKET FORECAST 2019-2028

The global polylactic acid market is expected to reach $2348.1 million by 2028, growing at a CAGR of 12.20% in terms of revenue, during the forecast period. In terms of volume, the global polylactic acid market is expected to reach 1130.0 kilo metric tons by 2028, growing at a CAGR of 14.12% during the forecast period. The base year considered for the study is 2018, and the estimated period is between 2019 and 2028.

Polylactic acid (PLA) is a lactic acid based bioplastic. Polylactic acid is majorly is used in the food industry for packaging sensitive food products. The biodegradable PLA is produced using naturally occurring raw materials such as corn, sugarcane, Cassava, and others. Apart from food packaging, PLA is also used in medical, textile, automotive, agriculture, and many other industries. Polylactic acid is available in the form of fiber, films and sheets, coatings, and others. The use of polylactic acid is being encouraged across the globe because of its biodegradability and environmentally better alternative for polluting plastic products in many applications wherever it is feasible.

The factors boosting the global polylactic acid market growth are:

  • Unstable petroleum prices and lack of enough sources
  • Favorable government support
  • Rising environmental concerns
  • Increasing demand from developing countries

Global Polylactic Acid Market

Unstable petroleum prices and unavailability of sufficient resources for the production of plastic are working in favor of the polylactic acid market. This is because the cost of raw materials required to produce PLA is stable and less costly as these are renewable resources. Also, favorable government policies are helping the PLA market to gain a considerable market share. The increasing concern for the environment has played a crucial part in spreading awareness about PLA as a better alternative to synthetic polymers.

The packaging category dominated the application segment both, in terms of revenue and volume, in 2019, harboring a revenue share of 52.68%. At the same time, the medical category is evaluated to be the fastest-growing category in the application segment by the end of the forecast period. This is again in terms of volume and revenue. Coatings are the fastest-growing product form, whereas corn is the largest contributor as raw material for the production of polylactic acid in the market.

Poor performance compared to conventional plastic, price competitiveness from conventional polymers, and agricultural fiber alternatives, along with the need for industrial composting units are profoundly restricting the growth of the polylactic acid market.

The report on the global polylactic acid market includes the segmentation analysis of product form, application, and raw material.

Market by Product Form:

  • Fibers
  • Coatings
  • Films and Sheets
  • Others

Market by Application:

  • Automotive
  • Agriculture
  • Electronics
  • Textiles
  • Medical
  • Packaging
  • Others

Market by Raw Material:

  • Sugarcane & Sugar Beet
  • Cassava
  • Corn
  • Others

Geographically, the global polylactic acid market has been segmented on the basis of four major regions, which includes:

  • North America: the United States and Canada
  • Europe: the United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and Rest of Europe
  • Asia Pacific: China, India, Japan, South Korea Australia & New Zealand, Indonesia, Thailand, Vietnam, and Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East & Africa

North America dominated the global market, with a revenue share of 35.86% in 2019. Government and private support toward the development of the polylactic acid market, and the increasing use in food packaging in the region are important factors for market growth. The Asia Pacific is the fastest-growing region for the polylactic acid market, both in terms of revenue and volume.

The prominent players of the global polylactic acid market are:

  • NatureWorks LLC
  • BASF
  • Mitsubishi Chemical Holding Corporation
  • Synbra Holding BV
  • Teijin Ltd

Key findings of the global polylactic acid market are:

  • The packaging segment is the largest contributing application segment of the market, in terms of volume and revenue.
  • Coatings are the rapidly growing product form of the market.
  • Corn is extensively used raw material for PLA extraction.

TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES `
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. HISTORY OF POLYLACTIC ACID
    2. MARKET DEFINITION
    3. KEY DRIVERS
      1. UNSTABLE PETROLEUM PRICES AND LACK OF ENOUGH SOURCES
      2. FAVORABLE GOVERNMENT SUPPORT
      3. RISING ENVIRONMENTAL CONCERNS
      4. INCREASING DEMAND FROM DEVELOPING COUNTRIES
    4. KEY RESTRAINTS
      1. POOR PERFORMANCE COMPARED TO CONVENTIONAL PLASTICS
      2. PRICE COMPETITIVENESS FROM CONVENTIONAL POLYMERS AND AGRICULTURAL FIBER ALTERNATIVES
      3. NEED FOR INDUSTRIAL COMPOSTING UNITS
  4. KEY ANALYTICS
    1. KEY INVESTMENT INSIGHTS
    2. PORTER’S FIVE FORCE ANALYSIS
      1. BUYER POWER
      2. SUPPLIER POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. OPPORTUNITY MATRIX
    4. VENDOR LANDSCAPE
    5. VALUE CHAIN ANALYSIS
      1. RAW MATERIAL
      2. PRODUCTION
      3. RETAILER/DISTRIBUTOR
      4. END-USER
    6. KEY BUYING CRITERIA
      1. PRICE
      2. ALTERNATIVES
      3. AVAILABILITY
      4. END OF LIFE EFFECTS
    7. REGULATORY FRAMEWORK
  5. MARKET BY PRODUCT FORM
    1. FILMS AND SHEETS
    2. COATINGS
    3. FIBERS
    4. OTHER PRODUCT FORMS
  6. MARKET BY APPLICATION
    1. PACKAGING
    2. AGRICULTURE
    3. ELECTRONICS
    4. TEXTILES
    5. MEDICAL
    6. AUTOMOTIVE
    7. OTHER APPLICATIONS
  7. MARKET BY RAW MATERIAL
    1. CORN
    2. SUGARCANE & SUGAR BEET
    3. CASSAVA
    4. OTHER RAW MATERIALS
  8. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. UNITED STATES
      2. CANADA
    2. EUROPE
      1. UNITED KINGDOM
      2. GERMANY
      3. FRANCE
      4. ITALY
      5. RUSSIA
      6. BELGIUM
      7. POLAND
      8. REST OF EUROPE
    3. ASIA PACIFIC
      1. CHINA
      2. JAPAN
      3. INDIA
      4. SOUTH KOREA
      5. INDONESIA
      6. THAILAND
      7. VIETNAM
      8. AUSTRALIA & NEW ZEALAND
      9. REST OF ASIA PACIFIC
    4. REST OF WORLD
      1. LATIN AMERICA
      2. MIDDLE EAST & AFRICA
  9. COMPANY PROFILES
    1. NATUREWORKS LLC
    2. BASF
    3. MITSUBISHI CHEMICAL HOLDING CORPORATION
    4. ZHEJIANG HISUN BIOMATERIALS CO LTD
    5. FUTERRO SA
    6. SYNBRA HOLDING BV
    7. TEIJIN LTD
    8. DOW CHEMICALS
    9. THYSSENKRUPP AG
    10. DANIMER SCIENTIFIC
    11. GREEN BIOPLASTICS
    12. INNOVIA FILMS
    13. GOOD NATURED PRODUCTS INC
    14. TOTAL-CORBION PLA 
LIST OF TABLES

TABLE 1: MARKET SNAPSHOT - POLYLACTIC ACID          

TABLE 2: LEGAL, POLICY & REGULATORY FRAMEWORK           

TABLE 3: GLOBAL POLYLACTIC ACID MARKET, BY PRODUCT FORM, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 4: GLOBAL POLYLACTIC ACID MARKET, BY PRODUCT FORM, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 5: GLOBAL FILMS AND SHEETS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)          

TABLE 6: GLOBAL FILMS AND SHEETS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)        

TABLE 7: GLOBAL COATINGS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)      

TABLE 8: GLOBAL COATINGS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)      

TABLE 9: GLOBAL FIBERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)      

TABLE 10: GLOBAL FIBERS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION),     

TABLE 11: GLOBAL OTHER PRODUCT FORMS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 12: GLOBAL OTHER PRODUCT FORMS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 13: GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 14: GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 15: GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN KILO METRIC TON)

TABLE 16: GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION, FORECAST YEARS, 2019-2028 (IN KILO METRIC TON)

TABLE 17: GLOBAL PACKAGING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)      

TABLE 18: GLOBAL PACKAGING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)      

TABLE 19: GLOBAL AGRICULTURE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)        

TABLE 20: GLOBAL AGRICULTURE MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)   

TABLE 21: GLOBAL ELECTRONICS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)        

TABLE 22: GLOBAL ELECTRONICS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)   

TABLE 23: GLOBAL TEXTILES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)      

TABLE 24: GLOBAL TEXTILES MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)      

TABLE 25: GLOBAL MEDICAL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)      

TABLE 26: GLOBAL MEDICAL MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)      

TABLE 27: GLOBAL AUTOMOTIVE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)   

TABLE 28: GLOBAL AUTOMOTIVE MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)      

TABLE 29: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 30: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)          

TABLE 31: GLOBAL POLYLACTIC ACID MARKET, BY RAW MATERIAL, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 32: GLOBAL POLYLACTIC ACID MARKET, BY RAW MATERIAL, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 33: GLOBAL CORN MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)      

TABLE 34: GLOBAL CORN MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)      

TABLE 35: GLOBAL SUGARCANE & SUGAR BEET MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)        

TABLE 36: GLOBAL SUGARCANE & SUGAR BEET MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 37: GLOBAL CASSAVA MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)      

TABLE 38: GLOBAL CASSAVA MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION),     

TABLE 39: GLOBAL OTHER RAW MATERIALS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 40: GLOBAL OTHER RAW MATERIALS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 41: GLOBAL POLYLACTIC ACID MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 42: GLOBAL POLYLACTIC ACID MARKET, BY GEOGRAPHY, FORECAST YEARS, 2019-2028 (IN $ MILLION)          

TABLE 43: GLOBAL POLYLACTIC ACID MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN KILO METRIC TON)

TABLE 44: GLOBAL POLYLACTIC ACID MARKET, BY GEOGRAPHY, FORECAST YEARS, 2019-2028 (IN KILO METRIC TON)

TABLE 45: NORTH AMERICA POLYLACTIC ACID MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)        

TABLE 46: NORTH AMERICA POLYLACTIC ACID MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 47: NORTH AMERICA POLYLACTIC ACID MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN KILO METRIC TON)    

TABLE 48: NORTH AMERICA POLYLACTIC ACID MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN KILO METRIC TON)        

TABLE 49: EUROPE POLYLACTIC ACID MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)          

TABLE 50: EUROPE POLYLACTIC ACID MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)          

TABLE 51: EUROPE POLYLACTIC ACID MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN KILO METRIC TON)      

TABLE 52: EUROPE POLYLACTIC ACID MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN KILO METRIC TON)      

TABLE 53: ASIA PACIFIC POLYLACTIC ACID MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 54: ASIA PACIFIC POLYLACTIC ACID MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 55: ASIA PACIFIC POLYLACTIC ACID MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN KILO METRIC TON)        

TABLE 56: ASIA PACIFIC POLYLACTIC ACID MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN KILO METRIC TON)        

TABLE 57: REST OF WORLD POLYLACTIC ACID MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 58: REST OF WORLD POLYLACTIC ACID MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 59: REST OF WORLD POLYLACTIC ACID MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN KILO METRIC TON)        

TABLE 60: REST OF WORLD POLYLACTIC ACID MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN KILO METRIC TON)        

LIST OF FIGURES

FIGURE 1: TIMELINE POLYLACTIC ACID       

FIGURE 2: KEY INVESTMENT INSIGHTS        

FIGURE 3: PORTER’S FIVE FORCE ANALYSIS        

FIGURE 4: OPPORTUNITY MATRIX     

FIGURE 5: VENDOR LANDSCAPE       

FIGURE 6: VALUE CHAIN ANALYSIS   

FIGURE 7: KEY BUYING CRITERIA      

FIGURE 8: GLOBAL POLYLACTIC ACID MARKET, GROWTH POTENTIAL, BY PRODUCT FORM, IN 2019       

FIGURE 9: GLOBAL POLYLACTIC ACID MARKET, BY FILMS AND SHEETS, 2019-2028 (IN $ MILLION)      

FIGURE 10: GLOBAL POLYLACTIC ACID MARKET, BY COATINGS, 2019-2028 (IN $ MILLION)           

FIGURE 11: GLOBAL POLYLACTIC ACID MARKET, BY FIBERS, 2019-2028 (IN $ MILLION) 

FIGURE 12: GLOBAL POLYLACTIC ACID MARKET, BY OTHER PRODUCT FORMS, 2019-2028 (IN $ MILLION)        

FIGURE 13: GLOBAL POLYLACTIC ACID MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2019         

FIGURE 14: GLOBAL POLYLACTIC ACID MARKET, BY PACKAGING, 2019-2028 (IN $ MILLION)           

FIGURE 15: GLOBAL POLYLACTIC ACID MARKET, BY AGRICULTURE, 2019-2028 (IN $ MILLION)      

FIGURE 16: GLOBAL POLYLACTIC ACID MARKET, BY ELECTRONICS, 2019-2028 (IN $ MILLION)      

FIGURE 17: GLOBAL POLYLACTIC ACID MARKET, BY TEXTILES, 2019-2028 (IN $ MILLION)           

FIGURE 18: GLOBAL POLYLACTIC ACID MARKET, BY MEDICAL, 2019-2028 (IN $ MILLION)           

FIGURE 19 GLOBAL POLYLACTIC ACID MARKET, BY AUTOMOTIVE, 2019-2028 (IN $ MILLION)      

FIGURE 20: GLOBAL POLYLACTIC ACID MARKET, BY OTHER APPLICATIONS, 2019-2028 (IN $ MILLION)   

FIGURE 21: GLOBAL POLYLACTIC ACID MARKET, GROWTH POTENTIAL, BY RAW MATERIAL, IN 2019           

FIGURE 22: GLOBAL POLYLACTIC ACID MARKET, BY CORN, 2019-2028 (IN $ MILLION)    

FIGURE 23: GLOBAL POLYLACTIC ACID MARKET, BY SUGARCANE & SUGAR BEET, 2019-2028 (IN $ MILLION)          

FIGURE 24: GLOBAL POLYLACTIC ACID MARKET, BY CASSAVA, 2019-2028 (IN $ MILLION)           

FIGURE 25: GLOBAL POLYLACTIC ACID MARKET, BY OTHER RAW MATERIALS, 2019-2028 (IN $ MILLION)        

FIGURE 26: NORTH AMERICA POLYLACTIC ACID MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)  

FIGURE 27: UNITED STATES POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)         

FIGURE 28: CANADA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)

FIGURE 29: EUROPE POLYLACTIC ACID MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)           

FIGURE 30: UNITED KINGDOM POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)     

FIGURE 31: GERMANY POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)        

FIGURE 32: FRANCE POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)

FIGURE 33: ITALY POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)     

FIGURE 34: RUSSIA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION) 

FIGURE 35: BELGIUM POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)          

FIGURE 36: POLAND POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)

FIGURE 37: REST OF EUROPE POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)     

FIGURE 38: ASIA PACIFIC POLYLACTIC ACID MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 39: CHINA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)    

FIGURE 40: JAPAN POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)   

FIGURE 41: INDIA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)      

FIGURE 42: SOUTH KOREA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)           

FIGURE 43: INDONESIA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)      

FIGURE 44: THAILAND POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)         

FIGURE 45: VIETNAM POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)           

FIGURE 46: AUSTRALIA & NEW ZEALAND POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)      

FIGURE 47: REST OF ASIA PACIFIC POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)           

FIGURE 48: REST OF WORLD POLYLACTIC ACID MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)  

FIGURE 49: LATIN AMERICA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)          

FIGURE 50: MIDDLE EAST & AFRICA POLYLACTIC ACID MARKET, 2019-2028 (IN $ MILLION)           

Request For A Free Sample