Market Overview:
The global polylactic acid (PLA) market size reached US$ 993.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,530.0 Million by 2032, exhibiting a growth rate (CAGR) of 14.7% during 2024-2032. The growing demand for sustainable packaging options, raising awareness about single-use plastic alternatives, and increasing production of biodegradable sutures, drug delivery systems, and orthopedic implants are some of the major factors propelling the market.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 993.4 Million |
Market Forecast in 2032
|
US$ 3,530.0 Million |
Market Growth Rate 2024-2032 |
14.7% |
Polylactic acid (PLA) is a type of bioplastic obtained from natural sources, including corn starch and sugarcane. It is part of the polyester family and is synthesized through the polymerization of lactic acid, which can be obtained by fermenting plant sugars. It is biodegradable, which means it can decompose naturally over time when exposed to the right conditions. It is considered safe for food and medical applications due to its low toxicity and lack of harmful chemicals. It can be molded, extruded, and processed in various methods, making it suitable for a wide range of applications.
At present, the increasing demand for PLA for packaging purposes, including food containers, cups, and film wraps, is impelling the growth of the market. Besides this, the rising employment of PLA in 3D printing due to its effortless usage, low toxicity, and eco-friendliness is contributing to the growth of the market. In addition, the growing production of biodegradable sutures, drug delivery systems, and orthopedic implants made from PLA as they gradually degrade in the body is offering a favorable market outlook. Apart from this, increasing advancements in PLA technology, such as the development of high-performance PLA variants with improved mechanical and thermal properties, are supporting the growth of the market. Additionally, rising investments in research operations aimed at enhancing the scalability and cost-effectiveness of PLA production are bolstering the growth of the market.
Polylactic Acid (PLA) Market Trends/Drivers:
Growing demand for sustainable packaging
At present, the growing demand for sustainable packaging is exerting a positive influence on the expansion of the PLA market. Besides this, the rising awareness and concern about environmental sustainability among consumers are increasing, and they are actively seeking products that align with their values. PLA, being a biodegradable and renewable polymer derived from plant-based sources, such as corn starch or sugarcane, is perceived as an eco-friendly alternative to conventional plastics. Moreover, stringent regulations and government initiatives aimed at decreasing plastic waste and minimizing the carbon footprint are increasing the adoption of sustainable practices, including the usage of biodegradable materials like PLA in various packaging solutions.
Increasing demand for bio-based plastics
The increasing demand for bio-based plastics is propelling the growth of the polylactic acid (PLA) market. Manufacturers and consumers alike are currently embracing bio-based plastics like PLA due to their renewable and biodegradable nature. PLA, which is extracted from renewable sources, such as corn starch and sugarcane, is actively adopted as a viable substitute for traditional petroleum-based plastics. This ongoing shift in consumer preferences towards eco-conscious products is directly contributing to the rising demand for PLA. Moreover, the emphasis on reducing carbon footprints and the promotion of circular economy principles is resulting in a higher adoption rate of PLA in packaging, textiles, and various other applications. Industries are continually exploring ways to incorporate bio-based plastics like PLA into their production processes, reflecting the current positive impact of this trend on the PLA market.
Rising awareness about single-use plastic alternatives
The rising awareness about single-use plastic alternatives is bolstering the growth of the market. Besides this, individuals and organizations are actively exploring and adopting PLA-based products, such as biodegradable packaging materials, utensils, and disposable containers. In addition, various companies are shifting their production and procurement strategies to incorporate PLA into their product lines to reduce their carbon footprint. Furthermore, ongoing initiatives and campaigns aimed at reducing plastic waste, along with governmental regulations promoting sustainable practices, are driving continuous interest and investment in PLA as a sustainable alternative. As a result, the PLA market is experiencing a steady expansion, with manufacturers and suppliers expanding their capacities and product offerings to cater to the evolving preferences of environmentally conscious consumers and industries.
Polylactic Acid (PLA) Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global polylactic acid (PLA) market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on raw material and end use industry.
Breakup by Raw Material:
- Corn
- Sugarcane and Sugar Beet
- Cassava
- Others
Corn dominates the market
The report has provided a detailed breakup and analysis of the market based on the raw material. This includes corn, sugarcane and sugar beet, cassava, and others. According to the report, corn represented the largest segment.
Corn is rich in starch, which is the primary feedstock for PLA production, and can be easily extracted from corn kernels and converted into glucose through enzymatic processes. The cost-effectiveness of using corn as a feedstock for PLA production makes it an attractive choice. The existing infrastructure for corn farming, harvesting, and processing also contributes to lower production costs. Besides this, corn is a renewable source, using it for PLA aligns with the desire to produce more environmentally friendly plastics. In addition, genetically modified (GMO) corn varieties are manufactured to enhance starch content and suitability for industrial processes like PLA production. These specialized varieties can further improve the efficiency of the PLA manufacturing process.
Breakup by End Use Industry:
- Packaging
- Agriculture
- Automotive and Transport
- Electronics
- Textiles
- Others
Packaging holds the largest share in the market
A detailed breakup and analysis of the market based on the end use industry has also been provided in the report. This includes packaging, agriculture, automotive and transport, electronics, textiles, and others. According to the report, packaging accounted for the largest market share.
PLA is commonly used for food packaging applications, such as cups, lids, containers, and films. Its biodegradability and ability to resist moisture make it suitable for packaging items like fresh produce, bakery products, and takeaway containers. PLA can be used to manufacture disposable cutlery, including forks, knives, and spoons which can be composted after use, reducing plastic waste. PLA straws are an eco-friendly alternative to traditional plastic straws which are often used in restaurants, cafes, and fast-food establishments. PLA can be used to create blister packaging for consumer goods, electronics, and pharmaceuticals. It provides transparency, which is essential for product visibility, and is compostable, making it more environmentally friendly than traditional plastic blister packaging.
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
North America exhibits a clear dominance, accounting for the largest polylactic acid (PLA) market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.
North America held the biggest market share due to the rising demand for sustainable packaging solutions to reduce its carbon footprint. Besides this, the increasing implementation of stringent regulations associated with plastic usage is contributing to the growth of the market. Apart from this, the rising awareness about the negative impacts of plastic usage on the environment is supporting the growth of the market. Additionally, the increasing utilization of sustainable packaging in various consumer goods is strengthening the growth of the market.
Asia Pacific is estimated to expand further in this domain due to rising research operations to improve the functionalities of PLA-based products. Moreover, the increasing focus on enhancing the production capacity of PLA to maintain a steady supply is bolstering the growth of the market.
Competitive Landscape:
Key market players are investing in expanding their production capacities to fulfill the rising demand for biodegradable plastics by building new production facilities and upgrading existing ones. They are also focusing on developing innovative PLA formulations with improved properties, such as heat resistance, strength, and flexibility. Leading companies are actively promoting the environmental benefits of PLA, including its biodegradability and reduced carbon footprint compared to traditional plastics. They are also exploring new markets and applications for their products beyond traditional packaging and food service items. Top companies are forming strategic alliances and partnerships with other players in the value chain, including raw material suppliers, converters, and end-users, to create a more integrated and efficient supply chain.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- BASF SE
- COFCO
- Evonik Industries AG
- Futerro
- Jiangsu Supla Bioplastics Co. Ltd.
- Jiangxi Keyuan Bio-Material Co. Ltd.
- Mitsui Chemicals Inc.
- NatureWorks LLC (Cargill Incorporated)
- Shanghai Tong-Jie-Liang Biomaterials Co. Ltd.
- Total Corbion PLA
Recent Developments:
- In September 2023, BASF SE announced the launch of biomass balance plastic additives that support the use of renewable feedstock to replace fossil feedstock and fulfill sustainability targets.
- In 2023, Evonik Industries AG and LEHVOSS Group entered into a strategic partnership to open up the path for new applications of industrial 3D printing in the automotive sector.
- In 2022, Futerro announced that it aims to set up a new fully integrated polylactic acid (PLA) biorefinery in Normandy, France, which will include a lactic acid unit transforming raw materials of agricultural origin, a PLA conversion unit, and a unit dedicated to molecular recycling of PLA.
Polylactic Acid (PLA) Market Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Million |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Raw Material
- End Use Industry
- Region
|
Raw Materials Covered |
Corn, Sugarcane and Sugar Beet, Cassava, Others |
End Use Industries Covered |
Packaging, Agriculture, Automotive and Transport, Electronics, Textiles, Others |
Regions Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
BASF SE, COFCO, Evonik Industries AG, Futerro, Jiangsu Supla Bioplastics Co. Ltd., Jiangxi Keyuan Bio-Material Co. Ltd., Mitsui Chemicals Inc., NatureWorks LLC (Cargill Incorporated), Shanghai Tong-Jie-Liang Biomaterials Co. Ltd., Total Corbion PLA, etc. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the polylactic acid (PLA) market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global polylactic acid (PLA) market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the polylactic acid (PLA) industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.