Polylactic Acid (PLA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Polylactic Acid (PLA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • December 2021 •
  • 142 pages •
  • Report ID: 6197397 •
  • Format: PDF
The global polylactic acid (PLA) market exhibited strong growth during 2015-2020.

Looking forward, the analyst expects the market to grow at a CAGR of around 15% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

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.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global polylactic acid (PLA) market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on raw material and end use industry.

Breakup by Raw Material:
Sugarcane and Sugar Beet

Breakup by End Use Industry:
Automotive and Transport

Breakup by Region:
North America
United States
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
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. Key Questions Answered in This Report:
How has the global polylactic acid (PLA) market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global polylactic acid (PLA) market?
What are the key regional markets?
What is the breakup of the market based on the raw material?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global polylactic acid (PLA) market and who are the key players?
What is the degree of competition in the industry?