Global Polylactic Acid Market Research Report 2020 | Industry Report, Industry Analysis, Key Players, Trends, Revenue, Regional Segmented, Outlook Until 2030

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The shortage of Chinese ingredients, raw materials, and semi-finished goods is the latest example of the global economy’s dependence on products made in China, from iPhones to auto parts to pharma. Much of the fallout may still be hidden and is likely to play out over months. Even before the coronavirus outbreak, business investment was already in poor health in the United States. It fell in the last three quarters of 2019. Some analysts now expect more companies could soon announce reductions in their capital spending.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Global Polylactic Acid market.

Trusted Business Insights presents an updated and Latest Study on Global Polylactic Acid Market 2019-2030. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Global Polylactic Acid market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Industry Insights, Market Size, CAGR, High-Level Analysis: Global Polylactic Acid Market

The global polylactic acid market size was estimated at USD 1.2 billion in 2018 and is expected to register a CAGR of 19.8% during the forecast period. There has been growing utilization of polylactic acid (PLA) in creams, shampoos, and body care products on account of its various properties, including enhancing skin lightening effects, accelerating exfoliation, and cell renewal. This is projected to spur industry expansion over the next few years.
PLA is biodegradable in nature and is made from renewable sources. It exhibits properties that are comparable to or better than petroleum-based plastics. Its demand is anticipated to continue increasing over the forecast years due to inherent features such as flavor and odor barrier characteristics.

Polylactic acid is biodegradable in nature and has characteristics similar to several thermoplastic polymers including polyethylene, polystyrene, and polypropylene. Polylactic acid consumption is anticipated to exhibit significant growth on account of its utilization in manufacturing plastic bottles and films and medical implants such as screws, plates, pins, and rods. These medical implants manufactured with PLA material completely break down within six months to two years inside a patients body, thereby eliminating the need for additional surgery for their removal.
Bioplastics can be divided into petroleum-based and bio-based plastics. The manufacturing process used for biodegradable plastics includes fermentation of canola oil and sugar to produce Polyhydroxyalkanoates (PHA) and polylactic acid, which are converted into biodegradable plastic. Polylactic acid is likely to be the largest product segment over the coming years as it is easy to process and possesses superior mechanical properties.
Growing consumption of packaged and processed foods such as frozen and ready-to-eat meals, snack foods, and cake mixes is projected to spur demand for flexible packaging solutions, thereby driving the packaging industry over the coming years. In addition, rising demand for flexible packaging in various countries including India, Brazil, Saudi Arabia, China, Japan, and Germany is anticipated to fuel market expansion. Growing consumption of polylactic acid in shopping bags and disposable cutlery is also anticipated to stimulate market growth.
Companies operating in the polylactic acid market have also focused on establishing commercial facilities in Thailand owing to the countrys favorable regulatory scenario. In addition, Thailand has a high availability of carbohydrates and possesses significant regulatory support from the National Innovation Alliance (NIA), Ministry of Commerce and Industry, and Board of Investment (BOI). The country also has a skilled workforce and suitable industrial infrastructure in the form of research institutes and supporting industries.
Rising consumer awareness with respect to the need for recyclability, green packaging, and sustainability is likely to drive consumption of PLA over the next few years. Bioplastic packaging such as rigid packaging and loose fill packaging has witnessed considerable regulatory support owing to the need to reduce greenhouse gas (GHG) emissions.

Application Insights of Global Polylactic Acid Market

Packaging, agriculture, transport, electronics, and textiles are some of the key application areas for polylactic acid. Packaging is anticipated to be the largest segment, accounting for a volume-based share of 36.6% in the overall industry in 2018. PLA is widely used for manufacturing bottles, jars, containers, labels, and fresh food packaging.
PLA plastic bottles are durable, disposable, and possess properties such as transparency and gloss. It can be easily composted as compared to petroleum-based products and does not emit toxic gases on incineration. Thus, its demand in this application area is likely to remain strong over the next few years.

Moreover, rising recyclability concerns are expected to significantly contribute to the polylactic acid market over the coming years since it is viewed as an environment-friendly packaging solution. PLA also compares well with existing plastics employed for packaging; it offers resistance to grease and moisture, has flavor and odor barrier properties, and is transparent and naturally glossy.
Industry penetration of polylactic acid in the electronics sector is relatively low, which can be primarily attributed to processing performance and stability issues. The application is mainly limited to the development of PLA CD-ROM and cases, as well as for biodegradable SD cards. The textile industry is one of the significant applications with high growth potential and market penetration. In addition to providing smooth fabrics, PLA offers excellent resistance from UV and moisture, low smoke formation, and reduced flammability, which will propel its demand in the textile sector over the next few years.

Regional Insights of Global Polylactic Acid Market

In terms of region, North America dominated the market for polylactic acid in 2018 and is anticipated to show the same trend over the foreseeable future. Presence of leading manufacturing companies in the region, including Danimer Scientific LLC, Nature Works LLC, Total Corbion PLA, Hitachi, Ltd., Ralik, and BASF SE, is anticipated to have a positive impact on the PLA market.
There has been rising consumption of biodegradable polymers compared to petroleum-based alternatives, as the former is eco-friendly. This will open new avenues for PLA manufacturers in the future. In addition, growing composting infrastructure in the U.S. is projected to promote industry development.
Asia Pacific is likely to exhibit the fastest growth in the market for polylactic acid over the coming years. Key companies manufacturing PLA in the region include Innovia Films, Mitsubishi Chemical Holding Corporation, Dow Chemicals, Biobent Polymers, and Zhejiang Hisun Biomaterials Co. Ltd.
China is considered to be one of the largest textile producers in the market for polylactic acid. The Government of China has established several beneficial initiatives for the textile sector, such as the Going Out strategy, in its 12th five-year plan and offers subsidies to textile manufacturers. This scenario is anticipated to boost domestic consumption of polylactic acid in the textile industry over the next few years.
Polylactic Acid (PLA) Market Share Insights
The global market is projected to exhibit intense competition over the coming years as a result of rising focus on product enhancement, increasing production capacities, and high investment in research and development activities.
Companies such as Synbra Technology BV are undertaking various initiatives such as product accreditation and strengthening product length to improve its performance over the coming years. For instance, in October 2017, Synbra Technology BV launched fully biodegradable cups manufactured from the companys product BioFoam, a PLA-based particle foam. Patented as BioFoam Monolock, these cups are boiling water resistant and leak-proof in nature.
The market for polylactic acid is highly consolidated in nature and is characterized by low entry barriers for new industry aspirants. Moreover, companies are undertaking various strategic initiatives including, increasing their product portfolio, expanding production capacity, and investing heavily in R & D initiatives to gain further access to global and regional markets.
Some of the key companies present in the industry are BASF SE, Danimer Scientific, Futerro, NatureWorks LLC, Synbra Technology BV, Hitachi Ltd., Sulzer Ltd., Zhejiang Hisun Biomaterials Co., Ltd., and Thyssenkrupp AG.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Polylactic Acid Market Research Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global polylactic acid (PLA) market report on the basis of application and region:

Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)








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