In recent years, there has been a growing global concern over the environmental impact of plastics. The excessive use of traditional petroleum-based plastics has led to pollution, overflowing landfills, and damage to ecosystems. As a result, there is a significant demand for eco-friendly alternatives, and one such solution gaining traction is polylactic acid (PLA). PLA is a biodegradable and renewable polymer derived from plant sources, making it a sustainable choice for various applications. Polylactic Acid (PLA) Market size is projected to grow from USD 1.0 billion in 2021 to USD 1.9 billion by 2026, at a CAGR of 12.2% between 2021 and 2026.
Browse 115 market data Tables and 47 Figures spread through 188 Pages and in-depth TOC on “Polylactic Acid (PLA) Market by Grade (Thermoforming, Extrusion, Injection Molding, Blow Molding), Application (Rigid Thermoform, Film & Sheet, Bottles), End-use Industry (Packaging, Consumer Goods, Agricultural, Textile, Biomedical) and Region – Global Forecast to 2026”
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This market research report explores the PLA market, its benefits, challenges, and future prospects. PLA is primarily made from renewable resources such as corn starch, sugarcane, and other agricultural products. This makes it a viable alternative to conventional plastics that rely heavily on fossil fuels. PLA’s production process involves fermenting sugars to produce lactic acid, which is then polymerized to create the final PLA resin. The versatility of PLA allows it to be used in a wide range of applications, including packaging, textiles, medical implants, disposable cutlery, and 3D printing.
One of the key advantages of PLA is its biodegradability. When exposed to the right conditions, such as industrial composting facilities or high-temperature environments, PLA breaks down into water, carbon dioxide, and organic compounds. This characteristic significantly reduces the environmental impact compared to traditional plastics that can persist in the environment for hundreds of years. PLA also has a lower carbon footprint during production, contributing to the overall reduction of greenhouse gas emissions.
The packaging industry has been a major driver for the growth of the PLA market. With increasing consumer awareness and stringent regulations, many companies are adopting PLA-based packaging solutions to reduce their environmental footprint. PLA offers excellent barrier properties, ensuring the preservation and protection of various products, including food and beverages. Additionally, PLA packaging can be transparent, providing an appealing display for customers.
Another promising application of PLA is in the textile industry. PLA fibers can be used as a substitute for petroleum-based polyester fibers, offering a sustainable alternative for clothing and other textile products. PLA fabrics are known for their breathability, moisture-wicking properties, and biodegradability, making them ideal for activewear, sportswear, and other outdoor apparel.
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Despite its numerous benefits, the PLA market does face certain challenges. One limitation is the higher production cost compared to traditional plastics. The cost of raw materials, processing, and infrastructure for composting or recycling facilities adds to the overall expense. However, with advancements in technology and economies of scale, the cost of PLA production is expected to decrease over time.
Another challenge is the limited availability of composting and recycling facilities capable of handling PLA waste. Proper disposal and recycling infrastructure are crucial for maximizing the environmental benefits of PLA. Efforts are underway to expand such facilities and educate consumers about the importance of proper waste management.
Polylactic Acid (PLA) Market Key Players
The major players in the market include NatureWorks LLC (US), Total Corbion PLA (Netherlands), BASF SE (Germany), Futerro (Belgium), COFCO (China), Mitsubishi Chemicals Corporation (Japan), Danimer Scientific (US), UNITIKA LTD.(Japan), Evonik Industries (Germany), and TORAY INDUSTRIES, INC (Japan) are some of the leading players in the market.
NatureWorks LLC is one of the leading manufacturer of PLA. The company has manufacturing plants in the North America, and Asia Pacific. In recent years, in recent years, NatureWorks LLC has adopted several business strategies to strengthen its position in the market. It has adopted various growth strategies, including investment & expansion, and new product launch, to maintain its position in PLA market. For instance, In June 2021, NatureWorks LLC invested USD 600 million for a PLA facility in Thailand. The company is focusing on increasing its annual PLA production capacity to 75,000 tons for Ingeo PLA grade.
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The thermoforming grade segment is expected to lead the PLA market during the forecast period.
Thermoforming grade has enormous growth potential in various packaging applications such as food, beverages, and other consumer products. Thermoformed parts made of PLA have excellent clarity, comparable to those formed in oriented polystyrene (OPS) and polyethylene terephthalate (PET). This, combined with the temperature requirements for product storage, make thermoformed PLA suitable for food packaging trays for baked goods, fruits, and vegetables.
Europe is expected to be the largest market for PLA during the forecast period.
The packaging industry is the largest end-use industry of PLA in Europe. The political and economic conditions have also driven the market penetration of PLA. The EU Commission has focused on the Lead Markets Initiative, where PLA has been identified as one of the most important potential markets. The strict government norms and economic conditions have also driven the PLA market. These factors have been responsible for the development of PLA with collaborative research in the region.
