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The global polylactic acid (PLA) market exhibited strong growth during 2015-2020. Polylactic acid (PLA) is a thermoplastic aliphatic polymer with the chemical formula (C3H4O2)n. It is obtained from renewable sources, such as corn starch or sugar cane, and widely available in numerous forms, including coatings, fiber, and films and sheets. PLA is primarily employed in the food industry for the packaging of heat, light, and moisture-sensitive food products. Besides this, it is also used in the textile, medical, agriculture and automotive industries across the globe on account of its biodegradability and excellent mechanical strength.
PLA is used to produce microwaveable containers, including disposable cutlery and food containers. This can be accredited to its beneficial properties, which include improved aesthetic appeal and resistance to grease and oil. Apart from this, textiles made using PLA offer excellent breathability, drapability and durability. Their escalating demand represents another factor positively influencing the PLA market worldwide. Moreover, as PLA is derived from corn, it does not produce toxic fumes and can break down into natural elements in commercial compost facilities. With the rising environmental concerns and the urgency for adopting pollution control measures, governing agencies of different countries across the world are undertaking several initiatives to provide subsidies and promote the usage of biodegradable products like PLA. This, along with factors like unstable petroleum prices and the unavailability of sufficient resources for plastic production, is anticipated to catalyze the demand for PLA. Looking forward, IMARC Group expects the global polylactic acid (PLA) market to grow at a CAGR of around 15% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global polylactic acid (PLA) market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, raw material and end use industry.
Breakup by Raw Material:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and Total Corbion PLA.
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