PUBLISHER: The Business Research Company | PRODUCT CODE: 1661983
PUBLISHER: The Business Research Company | PRODUCT CODE: 1661983
Polylactic acid, a thermoplastic monomer, is sourced from renewable organic materials like sugar cane or maize starch. Derived from biomass resources, it's notably employed in sustainable packaging due to its outstanding clarity and eco-friendly nature.
Various types of polylactic acid exist, including racemic PLLA, PDLA, regular PLLA, PDLLA, and PLA blends. Racemic PLLA, a biocompatible and biodegradable synthetic polymer, finds application in reversing lipoatrophy (facial fat loss) in HIV-positive individuals. Its production utilizes raw materials like corn starch, sugarcane, sugar beet, cassava, and others. Available in forms like films, sheets, coatings, and fibers, it serves industries spanning packaging, agriculture, transportation, electronics, and textiles.
The polylactic acid market research report is one of a series of new reports from The Business Research Company that provides polylactic acid market statistics, including polylactic acid industry global market size, regional shares, competitors with a polylactic acid market share, detailed polylactic acid market segments, market trends and opportunities, and any further data you may need to thrive in the polylactic acid industry. This polylactic acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The polylactic acid market size has grown rapidly in recent years. It will grow from $1.36 billion in 2024 to $1.63 billion in 2025 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to emergence of eco-friendly alternatives, rise in bioplastics demand, growth in packaging sector, consumer shift in preferences, commercialization efforts.
The polylactic acid market size is expected to see rapid growth in the next few years. It will grow to $3.34 billion in 2029 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to global awareness campaigns, expansion of end-use industries, supply chain development, emerging market demand, investment in R&D. Major trends in the forecast period include biodegradability and sustainability, environmental regulations, consumer awareness and preference, shift in packaging trends, market entry of large players.
The growth of the personal care sector is anticipated to drive the expansion of the polylactic acid market in the future. The personal care sector offers a wide range of products and services designed to enhance and maintain individual appearance and hygiene. This sector's growth is fueled by various factors, including consumer preferences, the rise of e-commerce, aging populations, and heightened awareness of health and wellness. Polylactic acid (PLA) is increasingly utilized in personal care products for sustainable packaging solutions and biodegradable formulations that help mitigate environmental impact. For example, in July 2024, a report from the British Beauty Council, a UK-based organization, indicated that in 2023, the personal care sector contributed £27.2 billion ($30.44 billion) to the GDP, reflecting an 11% increase compared to 2022. This growth is attributed to a 10% rise in household spending on personal care products and services in the UK. Consequently, the expansion of the personal care sector is driving the growth of the polylactic acid market.
The rising number of clinical trials is expected to contribute to the growth of the polylactic acid market in the coming years. Clinical trials are systematic studies conducted with human participants to evaluate the safety, efficacy, and potential side effects of medical interventions, such as new drugs, medical devices, treatments, or preventive measures. Polylactic acid is being investigated in clinical trials for its potential use in biodegradable medical implants and drug delivery systems. For instance, in May 2023, Xtalks, a Canada-based advertising services company powered by Honeycomb Worldwide Inc., reported that as of May 17, 2023, there were 452,604 registered clinical trials globally on ClinicalTrials.gov. This marks a significant increase from over 365,000 registered trials reported in early 2021. Therefore, the rising number of clinical trials is driving the growth of the polylactic acid market.
Technological advancements are becoming a significant trend in the polylactic acid market. Leading companies in this sector are investing in technology and research and development to support the increasing demand for biodegradable materials. For example, in December 2023, Suzler, a Switzerland-based industrial engineering and manufacturing company, introduced SULAC, an innovative technology aimed at improving the conversion of lactic acid into lactide, a key ingredient in the production of polylactic acid (PLA). This launch is intended to address the growing market demand for sustainable bioplastics, enhancing production efficiency and promoting the broader adoption of circular manufacturing practices.
Key players in the polylactic acid market are forming strategic partnerships to enhance their capabilities. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual advantages and success. For instance, in May 2023, Xiamen Changsu Industrial Pte Ltd., a Chinese manufacturer and supplier of BOPA (Biaxially Oriented PolyAmide) films, collaborated with TotalEnergies Corbion, a Netherlands-based producer of Poly Lactic Acid (PLA). This partnership aims to replace conventional fossil-based materials with BOPLA-based adhesive tapes developed from Changsu's BiONLY, particularly in China's postal sector.
In February 2024, Balrampur Chini Mills Limited, an India-based sugar manufacturer, acquired a minority stake in Konkan Speciality Poly Products Private Limited for $0.735 million. This strategic decision is intended to strengthen Balrampur's market presence in the production of polylactic acid (PLA), a biodegradable and bio-based material that is gaining traction as a sustainable alternative to traditional plastics. Konkan Speciality Poly Products Private Limited is an Indian provider of polylactic acid (PLA).
Major companies operating in the polylactic acid market are Total Corbion PLA, NatureWorks LLC, Futerro SA, COFCO Group, Jiangxi Keyuan Bio-Material Co. Ltd., Shanghai Tong-Jie-Liang Biomaterials Co. Ltd., Zhejiang Hisun Biomaterials Co. Ltd., Evonik Industries AG, Synbra Technology BV, BASF SE, Mitsubishi Chemical Holdings Corporation, Toray Industries Inc., Polyvel Inc., Musashino Chemical Laboratory Ltd., Radici Partecipazioni SpA, Anhui BBCA Biochemical Co. Ltd., Carbios SA, Chengdu Polyster Co. Ltd., Corbion N.V., Danimer Scientific Inc., FKuR Kunststoff GmbH, GC Innovation America, Good Natured Products Inc., Hainan Yisheng Petrochemical Co. Ltd., Hitachi Chemical Company Ltd., Jiangsu Jiuding New Material Co. Ltd., Kingfa Sci. & Tech. Co. Ltd., Nantong Jiuding Biological Engineering Co. Ltd., Shenzhen Esun Industrial Co. Ltd.
North America was the largest region in the polylactic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polylactic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the polylactic acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The polylactic acid market consists of sales of polylactic acid that are of thermoforming grade, injection molding grade, extrusion grade, and blow molding grade. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Polylactic Acid Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polylactic acid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polylactic acid ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The polylactic acid market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.