GLOBAL POLYLACTIC ACID (PLA) MARKET FORECAST 2019-2027

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GLOBAL POLYLACTIC ACID (PLA) MARKET FORECAST 2019-2027

The increasing awareness towards the environment and favorable government policies such as the Paris agreement, Kyoto protocol, etc. are expected to increase the demand for the global polylactic acid market. Polylactic acid is a biodegradable polymer which is made up of starch obtained from renewable resources such as corn and sugar and is the main reason for its increasing uptake across verticals such as packaging, agriculture, etc. 

GLOBAL POLYLACTIC ACID MARKET FORECAST 2019-2027

Global Polylactic Acid Market by Application (Packaging, Catering, Technical Materials, Consumer Goods, Agriculture, Construction Material, Others) by Product Form (Films and Sheets, Coatings, Fibers) & by Geography

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The increasing awareness towards the environment and favorable government policies such as the Paris agreement, Kyoto protocol, etc. are expected to increase the demand for the global polylactic acid market. Polylactic acid is a biodegradable polymer which is made up of starch obtained from renewable resources such as corn and sugar and is the main reason for its increasing uptake across verticals such as packaging, agriculture, etc. Other commodity polymers, for example, that are non-biodegradable such as Polyvinyl chloride (PVC), polystyrene, polyethylene and biodegradable polymers such as polyvinyl alcohol (PVOH), polyanhydride, etc. are very harmful to the environment as their production and degradation release carbon dioxide gas which can ultimately proliferate global warming. The global polylactic acid market is estimated to grow with 14.55 % CAGR during the year 2019 – 2027 tenure and is expected to rise to revenue of about $ 2,278 million by 2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027. The following factors drive the growth of this market:

  • High petroleum prices & lack of fossil fuel resources
  • Favorable government support
  • Rising environmental concerns
  • Increasing demand for PLA products from developing nations

The most influential drivers are the high petroleum prices and lack of fossil fuel resources. The high petroleum prices for the reducing levels of traditional fossil fuel byproducts are encouraging users to switch to an affordable and environment-friendly form of a polymer such as polylactic acid, thereby driving the sustainable global polylactic acid market over the forecast period. The price of petroleum product is continuously increasing resulting in a rise in the price of plastics at the same rate as that of the increase in the price of petroleum products since conventional plastic is a petroleum-based product. The fossil fuels are limited in nature and high demand for petroleum results in further increase in the price of petroleum-based products and hence, increased price of conventional plastics which are made from oil. Therefore, the rise in the price of petroleum-based products would encourage the people to look for alternatives like bioplastics that are made from polylactic acid and thereby, propelling the growth of global polylactic acid market over the forecast period.

The largest revenue reaping market segment by the application division is that for packaging. Increased consumption of packaged goods, such as food & beverages, have fostered the growth of the packaging industry. The rapid growth of packaging applications in the developed economies has facilitated the dependency on PLA in these regions. This has presented newer opportunities to the packaging materials suppliers. About 30% of the overall global demand for packaging materials is jointly catered by four countries, including Brazil, Russia, India and China (BRIC). The demand for packaged food is expected to grow further, owing to increased disposable income and improved standards of living. The increase in demand for consumer goods would also drive the growth of the packaging market. The fastest growing application is the biomedical market. As PLA can be degraded into innocuous lactic acid in the human body, it can be used as medical implants in the form of screws, pins, rods and mesh. According to the medical implant applications, there are various types/grades of PLA, such as basic grade, foam, soft PLA used in the human body. PLA degradation varies from 6 months to 2 years, based on the grade of PLA used. This gradual degradation makes it ideal for its use as a support structure. Owing to its environment-friendly attributes, PLA can be used in disposable garments, trays and fillers in pillows and diapers. Poly L-lactic acid (PLLA) is used in injectable forms for the treatment of acne scars in some cases. PLA is also used for manufacturing sustained release pharmaceutical drug delivery systems.

The restraints and challenges of the polylactic acid market are poor performance compared to that of conventional plastics, price competitiveness from conventional polymers and agricultural fiber alternatives, the need for industrial composting units, the lower levels of PLA awareness in developing countries and its high production cost. The most important challenge is the high production cost. PLA is still a costly option to use compared to the cheap petroleum-based plastic material. The high cost of production of PLA is expected to be a key challenge for the global PLA market growth. The production process of PLA is considered to be expensive and primarily driven by some key intermediary steps. The production of PLA is a costly manufacturing process because, for manufacturing PLA, first sugar is fermented into lactic acid which is a primary source for manufacturing PLA. PLA then degrades over several years in a controlled environment to deliver pre-plastic or low-quality plastic which is later broken down into building blocks for PLA. Therefore, the cost reduction of PLA is considered to be a challenge for the growth of the global PLA market over the forecast period.

The report on the global polylactic acid market includes segmentation by application and product form.

Application is sub-segmented into:

  • Packaging
  • Agriculture
  • Electronics
  • Textiles
  • Bio-medical
  • Others

Product Form is sub-segmented into:

  • Films and sheets
  • Coatings
  • Fibers
  • Others

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

  • North America: the United States & Canada
  • Europe: the United Kingdom, France, Germany, Italy, Spain, Russia, Rest Of Europe
  • Asia Pacific: China, India, Japan, South Korea, Australia, Rest of Asia Pacific
  • Rest of World: Latin America, Middle East & Africa

The major market players of the global polylactic acid market are:

  • Total-Corbion
  • NatureWorks
  • Hitachi
  • Pyramid
  • Zhenjiang Hisun Biomaterials
  • Synbra Technologies
  • Others

Company profiles cover the analysis of important players. These companies are using organic and inorganic strategies for their growth. For instance, in September 2018 Mitsubishi Chemical and PTT combined two types of biodegradable plastic for creating a new material. In January 2017, Synbra Technology introduced new product BioFoam® which is a PLA based foam and is made from renewable resources across the globe’s first particle foam to receive a carbon neutrality verification in compliance with the PAS 2060 standard. In December 2018, Total-Carbion, announced the start-up of its 75,000 tons per year PLA (Poly Lactic Acid) bioplastics plant in Rayong, Thailand.

Key Findings of the global polylactic acid market:

  • Favorable government policies are driving the market
  • New technology enabled polylactic competing with traditional polymers.
  • Collaboration is the winning strategy
  • There is increasing demand from end-user application
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • FAVORABLE GOVERNMENT POLICIES ARE DRIVING THE MARKET
      • NEW TECHNOLOGY ENABLED POLYLACTIC ACID IS COMPETING WITH TRADITIONAL POLYMERS
      • COLLABORATION IS THE WINNING STRATEGY
      • THERE IS INCREASING DEMAND FROM END-USER APPLICATION
  1. MARKET DYNAMICS
    • HISTORY OF POLYLACTIC ACID
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • HIGH PETROLEUM PRICES & LACK OF FOSSIL FUEL RESOURCES
      • FAVORABLE GOVERNMENT SUPPORT
      • RISING ENVIRONMENTAL CONCERNS
      • INCREASING DEMAND FROM DEVELOPING COUNTRIES
    • MARKET RESTRAINTS
      • POOR PERFORMANCE OF PLA AS COMPARED TO THAT OF CONVENTIONAL PLASTICS
      • PRICE COMPETITIVENESS FROM CONVENTIONAL POLYMERS AND AGRICULTURAL FIBER ALTERNATIVES
      • NEED FOR INDUSTRIAL COMPOSTING UNITS
    • MARKET OPPORTUNITIES
      • BLENDING OF PLA WITH OTHER MATERIALS
      • PRODUCTION OF PLA FROM SECOND-GENERATION BIOMASS
    • MARKET CHALLENGES
      • LOW AWARENESS IN DEVELOPING COUNTRIES
      • HIGH PRODUCTION COST
  1. MARKET BY APPLICATION
    • PACKAGING
    • AGRICULTURE
    • ELECTRONICS
    • TEXTILES
    • BIO-MEDICAL
    • OTHERS
  2. MARKET BY PRODUCT FORM
    • FILMS & SHEETS
    • COATINGS
    • FIBERS
    • OTHERS
  3. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • KEY BUYING CRITERIA
      • PRICE
      • ALTERNATIVES
      • AVAILABILITY
      • END OF LIFE EFFECTS
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
      • RAW MATERIAL
      • PRODUCTION
      • RETAILER/DISTRIBUTOR
      • END USER
    • LEGAL, POLICY & REGULATORY FRAMEWORK
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • CORPORATE STRATEGIES
      • PRIMARY STRATEGY: COLLABORATIONS
      • SECONDARY STRATEGY: ACQUISITION
      • TERTIARY STRATEGY: PRODUCT LAUNCH
    • COMPANY PROFILES
      • NATUREWORKS LLC
      • BASF
      • MITSUBISHI CHEMICAL HOLDING CORPORATION
      • ZHEJIANG HISUN BIOMATERIALS CO., LTD.
      • FUTERROA.
      • SYNBRA HOLDING B.V.
      • TEIJIN ARAMID B.V
      • DOW CHEMICALS
      • THYSSENKRUPP AG
      • DANIMER SCIENTIFIC (MERGED BY MEREDIAN, INC.)
      • GREEN DOT HOLDINGS LLC
      • BIOBENT POLYMERS
      • INNOVIA FILMS (ACQUIRED BY CCL INDUSTRIES INC.)
      • SOLEGEAR BIOPLASTICS INC.
      • TOTAL-CORBION

LIST OF FIGURES

FIGURE 1:              GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION, 2018 & 2027 (IN %)

FIGURE 2:              TIMELINE POLYLACTIC ACID

FIGURE 3:              GLOBAL PRIMARY ENERGY MIX FROM 2015 & 2035

FIGURE 4:              EMISSIONS FROM PRODUCTION OF COMMON POLYMERS

FIGURE 5:              TOTAL PRODUCTION OF AUTOMOBILES IN INDIA (2006-2016)

FIGURE 6:              LACTIC ACID AND INTEGRATED ETHANOL PRODUCTION PROCESS

FIGURE 7:              GLOBAL POLYLACTIC ACID MARKET, BY PACKAGING, 2019-2027 (IN $ MILLION)

FIGURE 8:              GLOBAL POLYLACTIC ACID MARKET, BY AGRICULTURE, 2019-2027 (IN $ MILLION)

FIGURE 9:              GLOBAL POLYLACTIC ACID MARKET, BY ELECTRONICS, 2019-2027 (IN $ MILLION)

FIGURE 10:           GLOBAL POLYLACTIC ACID MARKET, BY TEXTILES, 2019-2027 (IN $ MILLION)

FIGURE 11:           GLOBAL POLYLACTIC ACID MARKET, BY BIO-MEDICAL, 2019-2027 (IN $ MILLION)

FIGURE 12:           GLOBAL POLYLACTIC ACID MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 13:           GLOBAL POLYLACTIC ACID MARKET, BY FILMS & SHEETS, 2019-2027 (IN $ MILLION)

FIGURE 14:           GLOBAL POLYLACTIC ACID MARKET, BY COATINGS, 2019-2027 (IN $ MILLION)

FIGURE 15:           GLOBAL POLYLACTIC ACID MARKET, BY FIBERS, 2019-2027 (IN $ MILLION)

FIGURE 16:           GLOBAL POLYLACTIC ACID MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 17:           PORTER’S FIVE FORCE ANALYSIS

FIGURE 18:           KEY BUYING CRITERIA

FIGURE 19:           VALUE CHAIN ANALYSIS

FIGURE 20:           POLYLACTIC ACID MANUFACTURING COST FACTORS

FIGURE 21:           GLOBAL POLYLACTIC ACID MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 22:           UNITED STATES POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23:           CANADA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24:           UNITED KINGDOM POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25:           FRANCE POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26:           GERMANY POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27:           ITALY POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28:           SPAIN POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29:           RUSSIA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30:           REST OF EUROPE POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31:           CHINA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32:           INDIA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33:           JAPAN POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34:           SOUTH KOREA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35:           AUSTRALIA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36:           REST OF ASIA PACIFIC POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37:           LATIN AMERICA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38:           MIDDLE EAST & AFRICA POLYLACTIC ACID MARKET, 2019-2027 (IN $ MILLION)

FIGURE 39:           MARKET SHARE ANALYSIS OF KEY PLAYERS IN 2018 (IN %)

 

LIST OF TABLES

TABLE 1: GLOBAL POLYLACTIC ACID MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: COMPARISON OF ENERGY EXTRACTION IN 2010 AND 2050 (IN EXAJOULE)

TABLE 3: GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION, 2019-2027, (IN $ MILLION)

TABLE 4: GLOBAL PACKAGING POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL AGRICULTURE POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL ELECTRONICS POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL TEXTILES POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL BIO-MEDICAL POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL OTHERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10:              GLOBAL POLYLACTIC ACID MARKET, BY PRODUCT FORM, 2019-2027, (IN $ MILLION)

TABLE 11:              GLOBAL FILMS & SHEETS POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12:              GLOBAL COATINGS POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13:              GLOBAL FIBERS POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14:              GLOBAL OTHERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15:              OPPORTUNITY MATRIX

TABLE 16:              VENDOR LANDSCAPE

TABLE 17:              LEGAL, POLICY & REGULATORY FRAMEWORK

TABLE 18:              GLOBAL POLYLACTIC ACID MARKET, BY GEOGRAPHY, 2019-2027, (IN $ MILLION)

TABLE 19:              NORTH AMERICA POLYLACTIC ACID MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 20:              EUROPE POLYLACTIC ACID MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 21:              ASIA PACIFIC POLYLACTIC ACID MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 22:              REST OF WORLD POLYLACTIC ACID MARKET, BY REGION, 2019-2027 (IN $ MILLION)

  1. MARKET BY APPLICATION
    • PACKAGING
    • AGRICULTURE
    • ELECTRONICS
    • TEXTILES
    • BIO-MEDICAL
    • OTHERS
  2. MARKET BY PRODUCT FORM
    • FILMS & SHEETS
    • COATINGS
    • FIBERS
    • OTHERS
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • INDIA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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