Product Code: MA_1378 / A00016
The polylactic acid market was valued at $0.7 billion in 2020, and is projected to reach $4.0 billion by 2030, growing at a CAGR of 17.2% from 2021 to 2030.
The thermoplastic aliphatic polymer polylactic acid (PLA) has the chemical formula (C3H4O2)n. Polylactic acid is a biodegradable, semi-crystalline hydrophobic polymer with good mechanical properties. Most notably, polylactic acid is compostable, meaning it can be broken down into biodegradable components under certain conditions, making it a popular material for packaging in industries, such as food and beverage and consumer goods.
In recent years, the market for polylactic acid has seen emerging trends, as evidenced by innovations and advances in a variety of end-user applications, including biopolymer, food & drinks, packaging, and electronics. The biodegradable polymers business has seen a considerable increase in demand, notably in the North American and European regions, as consumers have become more aware of polymers made with polylactic acid. Polylactic acid (PLA) is now being used in overall packaging applications by food packaging makers for making trays and yoghurt cups, as it is the most prevalent takeaway food packaging alternative. Packaging is the most common use for bioplastics, accounting for roughly 65% of the entire bioplastics market (1.2 million tonnes) in 2018. PLA (polylactic acid) and other innovative biopolymers are expected to be important drivers of the bio-based and biodegradable plastics industry's growth. The increase in demand for sophisticated biopolymers, end-user applications, and novel products is expected to fuel expansion for polylactic acid market during the forecast period.
However, the rise in cost of production due to higher transportation, raw material, and energy expenses, results in loss in manufacturer margins, making the end-user application prices expensive. For example, due to rise in raw material costs, most manufacturing companies are increasing their pricing globally for product categories, such as lactic acid and lactates. Furthermore, one of the major restrictions on the expansion of the polylactic acid market is the regulation of the number of bacteria that produce the acid by optimizing and controlling metabolic activity.
IMPACT OF COVID-19 ON GLOBAL POLYLACTIC ACID MARKET
COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
In many countries, the economy has dropped due to the halt of several industries, especially demand and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
The demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the industry during the COVID-19 pandemic.
Due to a scarcity of resources in various parts of the world, the COVID-19 epidemic has impacted negatively on the cosmetic and personal care industry. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
The substantial increase in demand for food packaging product sales during the pandemic, may contribute to the market recovery in the near future. Due to the pandemic, spending on packaged food has grown significantly, which could help boost demand for polylactic acid during the forecasted period.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides in-depth analysis of the global polylactic acid market along with the current trends and future estimations.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
- Porter's five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global polylactic acid industry for strategy building.
- A comprehensive market analysis covers factors that drive and restrain the global polylactic acid market growth.
- The qualitative data about market dynamics, trends, and developments is provided in the report.
KEY MARKET SEGMENTS
By End-Use Industry
- Packaging
- Agriculture
- Electronics
- Textiles
- Bio-Medical
- Others
By Region
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- UAE
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Total Corbion PLA
- Nature Works LLC
- COFCO
- Futerro
- Jiangxi Keyuan Bio-Material Co., Ltd.
- Zhejiang Hisun Biomaterials Co., Ltd.
- Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.
- Corbion Purac
- Hisun Biomaterials
- Synbra Technology bv
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key benefits for stakeholders
- 1.3.Key market segments
- 1.4.Research methodology
- 1.4.1.Primary research
- 1.4.2.Secondary research
- 1.5.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO perspective
CHAPTER 3:MARKET LANDSCAPE
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.5.Market share analysis & top player positioning, 2020
- 3.5.1.Top player positioning, 2020
- 3.6.Market dynamics
- 3.6.1.Drivers
- 3.6.1.1.Advantages of polylactic acid in construction industry
- 3.6.1.2.Increase in building and construction industry
- 3.6.2.Restraint
- 3.6.2.1.Disadvantages of packaging in construction industry
- 3.6.3.Opportunities
- 3.6.3.1.Effective solution for waste management
- 3.6.3.2.The use of packaging promoted by the government in APAC
- 3.6.4.Challenges
- 3.6.4.1.Low awareness among the people about supplementary cementitious material
- 3.7.Value chain
- 3.8.Impact of key regulations on the global polylactic lactic market
- 3.9.Impact of COVID-19 outburst on the polylactic acid market
CHAPTER 4:POLYLACTIC ACID MARKET, BY END-USE INDUSTRY
- 4.1.Overview
- 4.1.1.Market size and forecast
- 4.2.Packaging
- 4.2.1.Key market trends, growth factors, and opportunities
- 4.2.2.Market size and forecast, by region
- 4.2.3.Market analysis, by country
- 4.3.Agriculture
- 4.3.1.Key market trends, growth factors, and opportunities
- 4.3.2.Market size and forecast, by region
- 4.3.3.Market analysis, by country
- 4.4.Electronics
- 4.4.1.Key market trends, growth factors, and opportunities
- 4.4.2.Market size and forecast, by region
- 4.4.3.Market analysis, by country
- 4.5.Textiles
- 4.5.1.Key market trends, growth factors, and opportunities
- 4.5.2.Market size and forecast, by region
- 4.5.3.Market analysis, by country
- 4.6.Bio-Medical
- 4.6.1.Key market trends, growth factors, and opportunities
- 4.6.2.Market size and forecast, by region
- 4.6.3.Market analysis, by country
- 4.8.Others
- 4.8.1.Key market trends, growth factors, and opportunities
- 4.8.2.Market size and forecast, by region
- 4.8.3.Market analysis, by country
CHAPTER 5:POLYLACTIC ACID MARKET, BY REGION
- 5.1.Overview
- 5.1.1.Market size and forecast
- 5.2.North America
- 5.2.1.Key market trends, growth factors, and opportunities
- 5.2.2.Market size and forecast, by End-Use Industry
- 5.2.2.1.U.S.
- 5.2.2.1.1.Market size and forecast, by End-Use Industry
- 5.2.2.2.Canada
- 5.2.2.2.1.Market size and forecast, by End-Use Industry
- 5.2.2.3.Mexico
- 5.2.2.3.1.Market size and forecast, by End-Use Industry
- 5.3.Europe
- 5.3.1.Key market trends, growth factors, and opportunities
- 5.3.2.Market size and forecast, by End-Use Industry
- 5.3.3.Market share analysis, by country
- 5.3.3.1.Germany
- 5.3.3.1.1.Market size and forecast, by End-Use Industry
- 5.3.3.2.France
- 5.3.3.2.1.Market size and forecast, by End-Use Industry
- 5.3.3.3.UK
- 5.3.3.3.1.Market size and forecast, by End-Use Industry
- 5.3.3.4.Italy
- 5.3.3.4.1.Market size and forecast, by End-Use Industry
- 5.3.3.5.Spain
- 5.3.3.5.1.Market size and forecast, by End-Use Industry
- 5.3.3.6.Rest of Europe
- 5.3.3.6.1.Market size and forecast, by End-Use Industry
- 5.4.Asia-Pacific
- 5.4.1.Key market trends, growth factors, and opportunities
- 5.4.2.Market size and forecast, by End-Use Industry
- 5.4.3.Market share analysis, by country
- 5.4.3.1.China
- 5.4.3.1.1.Market size and forecast, by End-Use Industry
- 5.4.3.2.Japan
- 5.4.3.2.1.Market size and forecast, by End-Use Industry
- 5.4.3.3.India
- 5.4.3.3.1.Market size and forecast, by End-Use Industry
- 5.4.3.4.South Korea
- 5.4.3.4.1.Market size and forecast, by End-Use Industry
- 5.4.3.5.Australia
- 5.4.3.5.1.Market size and forecast, by End-Use Industry
- 5.4.3.6.Rest of Asia-Pacific
- 5.4.3.6.1.Market size and forecast, by End-Use Industry
- 5.5.LAMEA
- 5.5.1.Key market trends, growth factors, and opportunities
- 5.5.2.Market size and forecast, by End-Use Industry
- 5.5.3.Market share analysis, by country
- 5.5.3.1.Brazil
- 5.5.3.1.1.Market size and forecast, by End-Use Industry
- 5.5.3.2.UAE
- 5.5.3.2.1.Market size and forecast, by End-Use Industry
- 5.5.3.3.Saudi Arabia
- 5.5.3.3.1.Market size and forecast, by End-Use Industry
- 5.5.3.4.South Africa
- 5.5.3.4.1.Market size and forecast, by End-Use Industry
- 5.5.3.5.Rest of LAMEA
- 5.5.3.5.1.Market size and forecast, by End-Use Industry
CHAPTER 6:COMPETITIVE LANDSCAPE
- 6.1.Introduction
- 6.2.Product mapping of top 10 players
- 6.3.Competitive Heatmap
- 6.4.Key development
- 6.4.1.Business Expansion
- 6.4.2.New Product
- 6.4.3.Acquisition
CHAPTER 7:COMPANY PROFILES
- 7.1.BASF SE
- 7.1.1.Company overview
- 7.1.2.Company snapshot
- 7.1.3.Operating business segments
- 7.1.4.Product portfolio
- 7.1.5.R&D expenditure
- 7.1.6.Business performance
- 7.2.BBCA Biotech
- 7.2.1.Company overview
- 7.2.2.Company snapshot
- 7.2.3.Product portfolio
- 7.3.Corbion
- 7.3.1.Company overview
- 7.3.2.Operating business segments
- 7.3.3.Product portfolio
- 7.3.4.R&D Expenditure
- 7.3.5.Business performance
- 7.3.6.Key strategic moves and developments
- 7.4.Dow Inc.
- 7.4.1.Company overview
- 7.4.2.Company snapshot
- 7.4.3.Operating business segments
- 7.4.4.Product portfolio
- 7.4.5.R&D expenditure
- 7.4.6.Business performance
- 7.5.Evonik Industries AG
- 7.5.1.Company overview
- 7.5.2.Company snapshot
- 7.5.3.Operating business segments
- 7.5.4.Product portfolio
- 7.5.5.R&D Expenditure
- 7.5.6.Business performance
- 7.5.7.Key strategic moves and developments
- 7.6.Futerro
- 7.6.1.Company overview
- 7.6.2.Company Snapshot
- 7.6.3.Product portfolio
- 7.7.Musashino Chemical Laboratory, Ltd.
- 7.7.1.Company overview
- 7.7.1.Company Snapshot
- 7.7.2.Product portfolio
- 7.8.Natureworks LLC
- 7.8.1.Company overview
- 7.8.2.Company snapshot
- 7.8.3.Product portfolio
- 7.8.4.Key strategic moves and developments
- 7.9.Weforyou GmbH
- 7.9.1.Company overview
- 7.9.2.Company snapshot
- 7.9.3.Product portfolio
- 7.10.Zhejiang Hisun Biomaterials
- 7.10.1.Company overview
- 7.10.2.Company snapshot
- 7.10.3.Product portfolio