Polylactic Acid Market, By Raw Material, By Application, By End-use, By Geography

Description

The polylactic acid market is estimated to be valued at USD 843.0 Mn in 2024 and is expected to reach USD 2,717.5 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 843.0 Mn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	18.20%	2031 Value Projection:	US$ 2,717.5 Mn

Figure. Polylactic Acid Market Share (%), By Region 2024

Polylactic acid (PLA) is a biodegradable and bio-based thermoplastic aliphatic polyester derived from renewable plant sources such as corn, cassava roots, sugarcane, or sugar beet pulp. PLA can be produced through the fermentation of sugar and it provides excellent properties similar to petroleum-based plastics while offering sustainability. It is transparent and can be thermoformed but lacks toughness compared to conventional polymers. PLA finds applications in packaging films, bottles, utensils as well as 3D printing filaments due to its renewability and biodegradability. With growing environmental concerns and regulations aimed at reducing plastic pollution, the demand for bio-based and biodegradable polymers such as PLA is expected to increase significantly over the coming years.

Market Dynamics:

Stringent government regulations aimed at limiting the use of conventional plastics along with rising awareness about environmental protection are the key factors driving the growth of the global polylactic acid market. PLA production from renewable plant-based sources also reduces dependency on petroleum feedstock. Furthermore, the increasing adoption of bioplastics in the packaging of food and beverages as well as non-food applications augurs well for the market. However, high production costs and limited availability of raw materials continue to hinder the widespread adoption of PLA. On the other hand, ongoing R&D towards improving the material properties of PLA through advanced production technologies and new polymer blends with other biopolymers is expected to create growth opportunities for market players.

Key Features of the Study:

This report provides in-depth analysis of the global polylactic acid market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global polylactic acid market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include TotalEnergies Corbion bv, NatureWorks LLC, JIANGSU SUPLA BIOPLASTICS CO., LTD., Futerro, COFCO, Jiangxi Keyuan Biopharm Co.,Ltd., Shanghai Tong-jie-liang Biomaterials Co.,LTD., Zhejiang Hisun Biomaterials Co., Ltd., BASF SE, Danimer Scientific, Mitsubishi Chemical America, Inc., UNITIKA LTD., Sulzer Ltd., Weforyou, Polysciences Inc., Musashino Chemical Laboratory Ltd., BEWiSynbra Group, Esun, and Danimer Scientific
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global polylactic acid market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global polylactic acid market

Detailed Segmentation-

By Raw Material:
- Corn starch
- Sugarcane
- Cassava
- Others
By Application:
- Rigid thermoform
- Film & sheets
- Bottles
- Others
By End use:
- Packaging
- Agriculture
- Automotive & transportation
- Electronics
- Textile
- Consumer goods
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- TotalEnergies Corbion bv
- NatureWorks LLC
- JIANGSU SUPLA BIOPLASTICS CO., LTD.
- Futerro
- COFCO
- Jiangxi Keyuan Biopharm Co.,Ltd.
- Shanghai Tong-jie-liang Biomaterials Co.,LTD.
- Zhejiang Hisun Biomaterials Co., Ltd.
- BASF SE
- Danimer Scientific
- Mitsubishi Chemical America, Inc.
- UNITIKA LTD.
- Sulzer Ltd.
- Weforyou
- Polysciences Inc.
- Musashino Chemical Laboratory Ltd.
- BEWiSynbra Group
- Esun
- Danimer Scientific

Product Code: CMI7098

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Raw Material
- Market Snippet, By Application
- Market Snippet, By End-use
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions

4. Global Polylactic Acid Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Polylactic Acid Market
Impact Analysis

5. Global Polylactic Acid Market, By Raw Material, 2019-2031, (US$ Mn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Corn starch
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Sugarcane
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Cassava
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends

6. Global Polylactic Acid Market, By Application, 2019-2031, (US$ Mn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Rigid thermoform
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Film & sheets
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Bottles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends

7. Global Polylactic Acid Market, By End-use, 2019-2031, (US$ Mn)

Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Packaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Agriculture
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Automotive & transportation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Electronics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Textile
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Consumer goods
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends

8. Global Polylactic Acid Market, By Region, 2019-2031, (US$ Mn)

Introduction
- Market Share Analysis, By Region, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020-2031
North America
- Introduction
- Market Size and Forecast, By Raw Material, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By End-use, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Raw Material, 2019 - 2031, (US$ Mn))
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By End-use, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Raw Material, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By End-use, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Raw Material, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By End-use, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East & Africa
- Introduction
- Market Size and Forecast, By Raw Material, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031 (US$ Mn)
- Market Size and Forecast, By End-use, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
  - GCC Countries
  - Israel
  - Rest of Middle East & Africa

9. Competitive Landscape

Market Share Analysis
Company Profiles
- TotalEnergies Corbion bv
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- NatureWorks LLC
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- JIANGSU SUPLA BIOPLASTICS CO., LTD.
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- Futerro
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- COFCO
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- Jiangxi Keyuan Biopharm Co., Ltd.
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- Shanghai Tong-jie-liang Biomaterials Co., LTD.
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- Zhejiang Hisun Biomaterials Co., Ltd.
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- BASF SE
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- Danimer Scientific
  - Company Overview
  - Raw Material Portfolio
  - Recent Developments/Updates
- Mitsubishi Chemical America, Inc.
- UNITIKA LTD.
- Sulzer Ltd.
- Weforyou
- Polysciences Inc.
- Musashino Chemical Laboratory Ltd.
- BEWiSynbra Group
- Esun
- Danimer Scientific

10. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Section

References
Research Methodology
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