Polylactic Acid (PLA) Market

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 (2022 - 2026)

Report Code: CH 8047 Feb, 2022, by marketsandmarkets.com

[188 Pages Report] The global 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. Government policies, growing awareness and increasing demand from Asia Pacific region are some of the factors driving the market for PLA.

Polylactic Acid (PLA) Market

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COVID-19 impact on global PLA market

PLA is used in various end-use industries such as packaging, consumer goods, textiles, and agriculture, among other industries. However, due to the ongoing pandemic, the end-use industries have been affected throughout the world. Workforce shortage, logistical restrictions, material unavailability, and other restrictions had slowed the industry's growth during the previous year.

PLA Market Dynamics

Driver: Changing consumer preference toward eco-friendly plastic product

Improving consumer awareness regarding sustainable plastic solutions and increasing efforts to eliminate the use of non-biodegradable conventional plastics contribute to the market growth of PLA. Traditionally used petroleum-based plastics take decades to break down or degrade and lay in landfills for a long period. PLA breaks down faster when they are discarded and are absorbed back into the natural system. In addition, the rate of decomposition of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics.

Restraint: Higher price of PLA than conventional plastic

The higher cost of PLA than that of traditional polymers restrains the market's growth in many application segments. Generally, the production cost of PLA is 20-80% higher than that of conventional plastics. This is primarily due to the high polymerization cost of PLA as most of the processes are still in the development stage and, hence, have not achieved economies of scale.

PLA has a lower production cost than conventional plastic materials but is still more expensive than petroleum-based PE and PP. In general, bio-based materials are still at the development stage. They have not been commercialized to the same level as their petrochemical counterparts, which have been developing rapidly for more than 50 years.

The cost of PLA varies from USD 2/kg to USD 6/kg compared to that of traditional plastics, which is approximately USD 1/kg to USD 2/kg. Higher R&D and production costs due to small-scale production and the significant price difference in comparison to traditional petroleum-based plastics are the key factors that contribute to the low penetration of PLA in various industries.

Opportunity: Development of new application

With the increasing focus on sustainability and favorable government regulations for green procurement policies, PLA manufacturers have significant opportunities in new end-use industries such as electronics, biomedical, and automotive. Manufacturers are investing heavily in R&D activities for the use of PLA in various applications in the medical industry, such as stitching materials, screws, and implants. PLA is used for manufacturing medical devices & equipment. It is used in tires with starch-based materials in the automotive industry to reduce fuel consumption. They are also used for making electrical equipment more efficient and cost-effective. The packaging application is also expected to witness significant growth. PLA films have an extensive application in the agriculture industry. PLA is a highly demanded biodegradable plastic material and is used in making trays, cutleries, and cups in the food industry.

Challenge: Performance issue

Low barrier properties to air, water, and oxygen and low resistance to heat are some of the major performance issues related to PLA. This restricts its penetration in various industries, including electronics and automotive. In addition, poor mechanical properties such as low impact & tensile strength and process capabilities are restricting the penetration of PLA in various applications. These performance limitations of PLA act as a major challenge for the growth of the market.

In terms of value, the thermoforming grade is projected to account for the largest share of the PLA market, by grade, during the forecast period.

PLA thermoplastics are completely compostable and biodegradable. They have properties similar to that of petroleum-based resins when converted into sheets for thermoforming. Various PLA blends display different characteristics at the time of thermoforming. Thermoformed parts made of PLA have excellent clarity compared to those made with OPS and PET. These characteristics, combined with storage temperature requirements, make thermoformed PLA ideal for food packaging trays for baked goods, fruits, and vegetables.

In terms of value, rigid thermoforms to be the fastest-growing application segment of the PLA market, during the forecast period.

Rigid thermoforming has an inflexible shape or form. 'Design for recycling' strategies can help maximize the recovery rate for waste plastics, particularly in packaging applications. This can be done by reducing barriers to recycling arising from product design. As PLA is a potentially recyclable material, it is gaining market share in the rigid thermoforming segment. Rigid packaging is made from paper or fiberboard/paperboard materials. This type of packaging is primarily used in the food packaging and medical industries. It is also used in the packaging of personal & natural products. The common products of rigid packaging are shipping cartons, bags, boxes, containers, cans, and other holders.

APAC is expected to be the fastest-growing market during the forecast period.

Based on region, the PLA market has been segmented into APAC, Europe, North America, South America and Middle East & Africa. The availability of low-cost raw materials and labor, coupled with increasing domestic demand and growing awareness about environmental issues, makes Asia Pacific an attractive investment destination for PLA manufacturers. Government regulations in Asia Pacific regarding plastic bags ban and global warming initiatives help in the market growth.

Polylactic Acid (PLA) Market by Region

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Key Market Players

Major players operating in the global PLA market are Natureworks LLC (US), Total Corbion PLA (Netherlands), BASF SE (Germany), Cofco (China), Futerro (Belgium), Danimer Scientific (US), Toray Industries Inc. (Japan), Evonik Industries (Germany), Mitsubishi Chemical Corporation (Japan), and Unitika Ltd. (Japan).

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Scope of the Report

Report Metric

Details

Years considered for the study

2019–2026

Base year

2020

Forecast period

2021–2026

Units considered

Value (USD Billion, and Million)

Segments

By Grades, By Applications, By End-use industries and Region

Regions

North America, APAC, Europe, South America, and the Middle East & Africa

Companies

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). Total 25 major players covered

This research report categorizes the PLA market based on grades, applications, end-use industry and region.

On the basis of grades, the PLA market has been segmented as follows:

  • Thermoforming grade
  • Injection molding grade
  • Extrusion grade
  • Blow molding grade
  • Others

On the basis of applications, the PLA market has been segmented as follows:

  • Rigid thermoforms
  • Films & sheets
  • Bottles
  •  Others

On the basis of end-use industries, the PLA market has been segmented as follows:

  • Packaging
  • Consumer goods
  • Agricultural
  • Textile
  • Biomedical
  • Others

On the basis of region, the PLA market has been segmented as follows:

  • APAC
  • Europe
  • North America
  • South America
  • The Middle East & Africa

Recent Developments

  • In October 2021, Total Corbion PLA launched recycled PLA range under the brand name Luminy rPLA, which is derived from post-industrial and post-consumer PLA waste. The new product is a chemically recycled product with similar characteristics as the existing Luminy PLA product.
  • In April 2021, NatureWorks LLC developed a new PLA grade Ingeo 3D700. The new material is ideal for large-format additive manufacturing, along with the reduction in warping and print failures. Ingeo 3D700 is specially designed for 3D printing, having performance characteristics such as precise detail, good adhesion, reduced warping or curling, and low odor while printing.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 25)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 INCLUSIONS & EXCLUSIONS
          TABLE 1 PLA MARKET: INCLUSIONS & EXCLUSIONS
    1.4 MARKET SCOPE
           1.4.1 MARKET SEGMENTATION
           1.4.2 REGIONS COVERED
           1.4.3 YEARS CONSIDERED FOR THE STUDY
    1.5 CURRENCY
    1.6 UNIT CONSIDERED
    1.7 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 29)
    2.1 RESEARCH DATA
          FIGURE 1 PLA: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
           2.1.3 PRIMARIES
                    2.1.3.1 Primary interviews – demand and supply-side
                    2.1.3.2 Key industry insights
                    2.1.3.3 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION
          FIGURE 2 MARKET SIZE ESTIMATION: APPROACH 1
          FIGURE 3 MARKET SIZE ESTIMATION: APPROACH 2
           2.2.1 TOP-DOWN APPROACH
                    2.2.1.1 Approach for arriving at market size using top-down analysis
                                FIGURE 4 TOP-DOWN APPROACH
           2.2.2 BOTTOM-UP APPROACH
                    2.2.2.1 Approach for arriving at market size using bottom-up analysis
                                FIGURE 5 BOTTOM-UP APPROACH
    2.3 FORECAST NUMBER CALCULATION
          FIGURE 6 DEMAND-SIDE FORECAST PROJECTIONS
    2.4 DATA TRIANGULATION
          FIGURE 7 PLA MARKET: DATA TRIANGULATION
    2.5 FACTOR ANALYSIS
    2.6 ASSUMPTIONS
    2.7 LIMITATIONS & RISKS ASSOCIATED WITH THE PLA MARKET

3 EXECUTIVE SUMMARY (Page No. - 41)
    FIGURE 8 THERMOFORMING GRADE TO LEAD PLA MARKET DURING FORECAST PERIOD
    FIGURE 9 RIGID THERMOFORM APPLICATION TO LEAD THE MARKET
    FIGURE 10 PACKAGING INDUSTRY TO DOMINATE OVERALL PLA MARKET BETWEEN 2021 AND 2026
    FIGURE 11 EUROPE LED PLA MARKET IN 2020

4 PREMIUM INSIGHTS (Page No. - 45)
    4.1 DEVELOPED ECONOMIES TO WITNESS RELATIVELY HIGHER GROWTH
          FIGURE 12 ASIA PACIFIC OFFERS ATTRACTIVE OPPORTUNITIES IN PLA MARKET DURING FORECAST PERIOD
    4.2 PLA MARKET, BY GRADE
          FIGURE 13 THERMOFORMING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.3 PLA MARKET, BY APPLICATION
          FIGURE 14 RIGID THERMOFORM APPLICATION PROJECTED TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
    4.4 PLA MARKET, BY END-USE INDUSTRY
          FIGURE 15 PACKAGING SEGMENT PROJECTED TO LEAD OVERALL MARKET
    4.5 PLA MARKET, BY COUNTRY
          FIGURE 16 MARKET IN UK PROJECTED TO REGISTER HIGHEST CAGR FROM 2021 TO 2026

5 MARKET OVERVIEW (Page No. - 48)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN PLA MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Changing consumer preference toward eco-friendly plastic products
                                TABLE 2 ADVERSE HEALTH EFFECTS DUE TO USE OF CONVENTIONAL PLASTICS
                    5.2.1.2 Increasing use in packaging and compostable bag applications
                    5.2.1.3 Government focus on green procurement policies and regulations
                                TABLE 3 REGULATIONS ON USE OF PLASTIC BAGS
                    5.2.1.4 Technological advancements to encourage production of PLA
           5.2.2 RESTRAINTS
                    5.2.2.1 Higher prices of PLA than conventional plastics
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Development of new applications
                    5.2.3.2 High potential in emerging countries of Asia Pacific
                    5.2.3.3 Multi-functionalities of PLA
           5.2.4 CHALLENGES
                    5.2.4.1 Performance issue
                    5.2.4.2 Fluctuating oil prices create volatility in demand for PLA
                                FIGURE 18 CRUDE OIL PRICES FROM 2014 TO 2020
                    5.2.4.3 Expensive and complex production process
    5.3 PORTER'S FIVE FORCES ANALYSIS
          FIGURE 19 PORTER'S FIVE FORCES ANALYSIS: PLA MARKET
           5.3.1 BARGAINING POWER OF SUPPLIERS
           5.3.2 BARGAINING POWER OF BUYERS
           5.3.3 THREAT OF SUBSTITUTES
           5.3.4 THREAT OF NEW ENTRANTS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 4 PLA MARKET: PORTER'S FIVE FORCES ANALYSIS
    5.4 VALUE CHAIN ANALYSIS
           FIGURE 20 PLA MARKET: VALUE CHAIN
           5.4.1 RAW MATERIAL SUPPLIERS
           5.4.2 MANUFACTURERS
           5.4.3 DISTRIBUTORS
           5.4.4 END-CONSUMERS
    5.5 PATENT ANALYSIS
           5.5.1 METHODOLOGY
           5.5.2 DOCUMENT TYPE
                    TABLE 5 TOTAL NUMBER OF PATENTS
                    FIGURE 21 TOTAL NUMBER OF PATENTS
           5.5.3 PUBLICATION TRENDS, 2021-2020
                    FIGURE 22 NUMBER OF PATENTS YEAR-WISE FROM 2010 TO 2020
           5.5.4 INSIGHTS
           5.5.5 LEGAL STATUS OF PATENTS
                    FIGURE 23 PATENT ANALYSIS, BY LEGAL STATUS
           5.5.6 JURISDICTION ANALYSIS
                    FIGURE 24 TOP JURISDICTION – BY DOCUMENT
           5.5.7 TOP COMPANIES/APPLICANTS
                    FIGURE 25 TOP 10 COMPANIES/APPLICANTS WITH HIGHEST NUMBER OF PATENTS
                    5.5.7.1 Patents by Toray Industries
                                TABLE 6 PATENTS BY TORAY INDUSTRIES
                    5.5.7.2 Patents by Teijin Limited
                                TABLE 7 PATENTS BY TEIJIN LIMITED
                    5.5.7.3 Patents by SK Chemicals Co. Ltd.
                                TABLE 8 PATENTS BY SK CHEMICALS CO. LTD.
           5.5.8 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS
                    TABLE 9 TOP TEN PATENT OWNERS
    5.6 RAW MATERIAL ANALYSIS
          FIGURE 26 MANUFACTURING PROCESSES OF PLA
           5.6.1 STARCH
           5.6.2 TAPIOCA ROOT
           5.6.3 CHIPS
           5.6.4 SUGARCANE
    5.7 TARIFF & REGULATIONS
           5.7.1 NORTH AMERICA
                    5.7.1.1 US
                    5.7.1.2 Canada
           5.7.2 ASIA PACIFIC
           5.7.3 EUROPE
    5.8 TRADE ANALYSIS
          TABLE 10 IMPORT TRADE DATA OF PLA FOR TOP 10 COUNTRIES, 2016–2020 (USD THOUSAND)
          TABLE 11 EXPORT TRADE DATA OF PLA FOR TOP 10 COUNTRIES, 2016–2020 (USD THOUSAND)
    5.9 ECOSYSTEM MAPPING
          FIGURE 27 PLA MARKET: ECOSYSTEM MAPPING
          TABLE 12 PLA: ECOSYSTEM
    5.10 TECHNOLOGY ANALYSIS
           5.10.1 DEVELOPMENT OF NANOCELLULOSE AND NANOCOMPOSITES
    5.11 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS
            FIGURE 28 TRENDS IN PLA MARKET
    5.12 MACROECONOMIC ANALYSIS
            TABLE 13 PROJECTED REAL GDP GROWTH (ANNUAL PERCENT CHANGE) OF KEY COUNTRIES, 2018–2025
    5.13 AVERAGE SELLING PRICE ANALYSIS
            FIGURE 29 AVERAGE YEARLY PRICING, BY GRADE
    5.14 COVID-19 IMPACT ANALYSIS
           5.14.1 COVID-19 ECONOMIC ASSESSMENT
           5.14.2 EFFECTS ON GDP OF COUNTRIES
           5.14.3 CONFIRMED CASES AND DEATHS, BY GEOGRAPHY
                     FIGURE 30 IMPACT OF COVID-19, BASED ON COUNTRY
           5.14.4 IMPACT ON END-USE INDUSTRIES
                    5.14.4.1 Packaging
                    5.14.4.2 Consumer Goods
                    5.14.4.3 Textile
                    5.14.4.4 Agriculture & Horticulture

6 POLYLACTIC ACID MARKET, BY GRADE (Page No. - 79)
    6.1 INTRODUCTION
          FIGURE 31 THERMOFORMING GRADE TO BE LARGEST SEGMENT
          TABLE 14 PLA MARKET SIZE, BY GRADE, 2019–2026 (KILOTON)
          TABLE 15 PLA MARKET SIZE, BY GRADE, 2019–2026 (USD MILLION)
    6.2 THERMOFORMING GRADE
    6.3 INJECTION MOLDING GRADE
    6.4 EXTRUSION GRADE
    6.5 BLOW MOLDING GRADE
    6.6 OTHERS

7 POLYLACTIC ACID MARKET, BY APPLICATION (Page No. - 83)
    7.1 INTRODUCTION
          FIGURE 32 RIGID THERMOFORM TO BE FASTEST-GROWING SEGMENT IN OVERALL MARKET
          TABLE 16 PLA MARKET SIZE, BY APPLICATION, 2019–2026 (KILOTON)
          TABLE 17 PLA MARKET SIZE, BY APPLICATION, 2019–2026 (USD MILLION)
    7.2 RIGID THERMOFORMS
    7.3 FILMS & SHEETS
    7.4 BOTTLES
    7.5 OTHERS

8 POLYLACTIC ACID MARKET, BY END-USE INDUSTRY (Page No. - 88)
    8.1 INTRODUCTION
          FIGURE 33 PACKAGING INDUSTRY TO DRIVE PLA MARKET BETWEEN 2021 AND 2026
          TABLE 18 PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
          TABLE 19 PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    8.2 PACKAGING
           8.2.1 FOOD PACKAGING
           8.2.2 NON-FOOD PACKAGING
    8.3 CONSUMER GOODS
           8.3.1 ELECTRICAL APPLIANCES
           8.3.2 DOMESTIC APPLIANCES
    8.4 AGRICULTURAL
           8.4.1 PLANTER BOXES
           8.4.2 TAPES & MULCH FILMS
           8.4.3 NETTING
    8.5 TEXTILE
           8.5.1 DIAPERS AND WIPES
           8.5.2 FEMALE HYGIENE
           8.5.3 PERSONAL CARE, CLOTHES, DISPOSABLE GARMENTS, MEDICAL & HEALTHCARE, AND OTHER TEXTILES
    8.6 BIOMEDICAL
           8.6.1 MEDICAL PLATES & SCREWS
           8.6.2 IMPLANTS
    8.7 OTHERS

9 POLYLACTIC ACID MARKET, BY REGION (Page No. - 96)
    9.1 INTRODUCTION
          FIGURE 34 UK, GERMANY, JAPAN TO BE FASTEST-GROWING MARKETS DURING THE FORECAST PERIOD
          TABLE 20 PLA MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
          TABLE 21 PLA MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    9.2 ASIA PACIFIC
          FIGURE 35 ASIA PACIFIC: PLA MARKET SNAPSHOT
          TABLE 22 ASIA PACIFIC: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
          TABLE 23 ASIA PACIFIC: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
          TABLE 24 ASIA PACIFIC: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
          TABLE 25 ASIA PACIFIC: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.2.1 CHINA
                    9.2.1.1 Increasing use of PLA by packaging and consumer goods industries to drive market
                                TABLE 26 CHINA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 27 CHINA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.2.2 INDIA
                    9.2.2.1 Single-use plastics ban and NGO initiatives to boost the market
                                TABLE 28 INDIA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 29 INDIA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.2.3 JAPAN
                    9.2.3.1 Research on development of better PLA grades to drive the market
                                TABLE 30 JAPAN: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 31 JAPAN: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.2.4 SOUTH KOREA
                    9.2.4.1 Government policies supporting market growth
                                TABLE 32 SOUTH KOREA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 33 SOUTH KOREA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.2.5 REST OF ASIA PACIFIC
                    TABLE 34 REST OF ASIA PACIFIC: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 35 REST OF ASIA PACIFIC: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    9.3 EUROPE
          FIGURE 36 EUROPE: PLA MARKET SNAPSHOT
          TABLE 36 EUROPE: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
          TABLE 37 EUROPE: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
          TABLE 38 EUROPE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
          TABLE 39 EUROPE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.3.1 GERMANY
                    9.3.1.1 Government programs for controlling use of conventional plastic to drive the market
                                TABLE 40 GERMANY: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 41 GERMANY: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.3.2 UK
                    9.3.2.1 Stringent regulations regarding use of single-use plastics driving the market
                                TABLE 42 UK: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 43 UK: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.3.3 FRANCE
                    9.3.3.1 Government initiatives leading to a shift toward use of PLA
                                TABLE 44 FRANCE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 45 FRANCE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.3.4 ITALY
                    9.3.4.1 Food packaging industry to drive the demand
                                TABLE 46 ITALY: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 47 ITALY: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.3.5 SPAIN
                    9.3.5.1 Public awareness driving the demand
                                TABLE 48 SPAIN: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 49 SPAIN: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.3.6 REST OF EUROPE
                    TABLE 50 REST OF EUROPE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 51 REST OF EUROPE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    9.4 NORTH AMERICA
          FIGURE 37 NORTH AMERICA: PLA MARKET SNAPSHOT
          TABLE 52 NORTH AMERICA: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
          TABLE 53 NORTH AMERICA: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
          TABLE 54 NORTH AMERICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
          TABLE 55 NORTH AMERICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.4.1 US
                    9.4.1.1 Limitations on use of conventional plastic in packaging industry to drive market
                                TABLE 56 US: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 57 US: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.4.2 CANADA
                    9.4.2.1 Stringent regulations driving demand for PLA
                                TABLE 58 CANADA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 59 CANADA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.4.3 MEXICO
                    9.4.3.1 Growing R&D to drive PLA market in the country
                                TABLE 60 MEXICO: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 61 MEXICO: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    9.5 MIDDLE EAST & AFRICA
          TABLE 62 MIDDLE EAST & AFRICA: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
          TABLE 63 MIDDLE EAST & AFRICA: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
          TABLE 64 MIDDLE EAST & AFRICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
          TABLE 65 MIDDLE EAST & AFRICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.5.1 SAUDI ARABIA
                    9.5.1.1 Government regulations controlling use of conventional plastics to drive the market
                                TABLE 66 SAUDI ARABIA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 67 SAUDI ARABIA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.5.2 UAE
                    9.5.2.1 Focus on medical tourism and healthcare infrastructure to drive the market
                                TABLE 68 UAE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 69 UAE: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.5.3 REST OF MIDDLE EAST & AFRICA
                    TABLE 70 REST OF MIDDLE EAST & AFRICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 71 REST OF MIDDLE EAST & AFRICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    9.6 SOUTH AMERICA
          TABLE 72 SOUTH AMERICA: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
          TABLE 73 SOUTH AMERICA: PLA MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
          TABLE 74 SOUTH AMERICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
          TABLE 75 SOUTH AMERICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.6.1 BRAZIL
                    9.6.1.1 Abundance of raw material to support the market
                                TABLE 76 BRAZIL: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                                TABLE 77 BRAZIL: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           9.6.2 REST OF SOUTH AMERICA
                    TABLE 78 REST OF SOUTH AMERICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 79 REST OF SOUTH AMERICA: PLA MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 130)
     10.1 INTRODUCTION
     10.2 STRATEGIES ADOPTED BY KEY PLAYERS
             FIGURE 38 COMPANIES ADOPTED INVESTMENTS & EXPANSIONS AND NEW PRODUCT DEVELOPMENTS AS KEY GROWTH STRATEGIES BETWEEN 2017–2021
     10.3 MARKET SHARE ANALYSIS
             10.3.1 RANKING OF KEY MARKET PLAYERS
                       FIGURE 39 RANKING OF TOP FIVE PLAYERS IN PLA MARKET, 2020
             10.3.2 MARKET SHARE OF KEY PLAYERS, 2020
                       FIGURE 40 PLA MARKET SHARE, BY COMPANY (2020)
                       TABLE 80 PLA MARKET: DEGREE OF COMPETITION
     10.4 REVENUE ANALYSIS OF TOP PLAYERS
             TABLE 81 PLA MARKET: REVENUE ANALYSIS (USD)
     10.5 MARKET EVALUATION MATRIX
             TABLE 82 MARKET EVALUATION MATRIX
     10.6 COMPANY EVALUATION MATRIX
             10.6.1 STAR
             10.6.2 EMERGING LEADERS
             10.6.3 PERVASIVE
                       FIGURE 41 PLA MARKET: COMPANY EVALUATION MATRIX, 2020
     10.7 COMPANY FOOTPRINT
             TABLE 83 OVERALL COMPANY FOOTPRINT
             TABLE 84 COMPANY APPLICATION FOOTPRINT
             TABLE 85 COMPANY MATERIAL FOOTPRINT
             TABLE 86 COMPANY REGION FOOTPRINT
             10.7.1 STRENGTH OF PRODUCT PORTFOLIO
             10.7.2 BUSINESS STRATEGY EXCELLENCE
     10.8 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX
             10.8.1 PROGRESSIVE COMPANY
             10.8.2 RESPONSIVE COMPANIES
             10.8.3 STARTING BLOCKS
                        FIGURE 42 PLA MARKET: STARTUPS AND SMES MATRIX, 2020
     10.9 COMPETITIVE SCENARIO
             10.9.1 NEW PRODUCT LAUNCHES
                        TABLE 87 NEW PRODUCT LAUNCHES, 2017–2021
             10.9.2 DEALS
                        TABLE 88 DEALS, 2017—2021
             10.9.3 OTHER DEVELOPMENTS
                        TABLE 89 OTHER DEVELOPMENTS, 2017–2021

11 COMPANY PROFILES (Page No. - 151)
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     11.1 KEY PLAYERS
             11.1.1 NATUREWORKS LLC
                        TABLE 90 NATUREWORKS LLC: COMPANY OVERVIEW
                        TABLE 91 NATUREWORKS LLC: PRODUCT LAUNCHES
                        TABLE 92 NATUREWORKS LLC: DEALS
                        TABLE 93 NATUREWORKS LLC: OTHERS
             11.1.2 TOTAL CORBION PLA
                        TABLE 94 TOTAL CORBION PLA: COMPANY OVERVIEW
                        TABLE 95 TOTAL CORBION PLA: PRODUCT LAUNCHES
                        TABLE 96 TOTAL CORBION PLA: DEALS
                        TABLE 97 TOTAL CORBION PLA: OTHERS
             11.1.3 BASF SE
                        TABLE 98 BASF SE: COMPANY OVERVIEW
                        FIGURE 43 BASF SE: COMPANY SNAPSHOT
                        TABLE 99 BASF SE: DEALS
             11.1.4 COFCO
                        TABLE 100 COFCO: COMPANY OVERVIEW
                        TABLE 101 COFCO: OTHERS
             11.1.5 FUTERRO
                        TABLE 102 FUTERRO: COMPANY OVERVIEW
                        TABLE 103 FUTERRO: OTHERS
             11.1.6 DANIMER SCIENTIFIC
                        TABLE 104 DANIMER SCIENTIFIC: COMPANY OVERVIEW
                        FIGURE 44 DANIMER SCIENTIFIC: COMPANY SNAPSHOT
                        TABLE 105 DANIMER SCIENTIFIC: DEALS
                        TABLE 106 DANIMER SCIENTIFIC: OTHERS
             11.1.7 TORAY INDUSTRIES, INC.
                        TABLE 107 TORAY INDUSTRIES, INC.: COMPANY OVERVIEW
                        FIGURE 45 TORAY INDUSTRIES, INC.: COMPANY SNAPSHOT
                        TABLE 108 TORAY INDUSTRIES, INC.: PRODUCT LAUNCHES
             11.1.8 EVONIK INDUSTRIES
                        TABLE 109 EVONIK INDUSTRIES: COMPANY OVERVIEW
                        FIGURE 46 EVONIK INDUSTRIES: COMPANY SNAPSHOT
                        TABLE 110 EVONIK INDUSTRIES: PRODUCT LAUNCHES
                        TABLE 111 EVONIK INDUSTRIES: DEALS
                        TABLE 112 EVONIK INDUSTRIES: OTHERS
             11.1.9 MITSUBISHI CHEMICAL CORPORATION
                        TABLE 113 MITSUBISHI CHEMICAL CORPORATION: COMPANY OVERVIEW
                        FIGURE 47 MITSUBISHI CHEMICAL CORPORATION: COMPANY SNAPSHOT
                        TABLE 114 MITSUBISHI CHEMICAL CORPORATION: OTHERS
             11.1.10 UNITIKA LTD.
                        TABLE 115 UNITIKA LTD.: COMPANY OVERVIEW
     11.2 OTHER PLAYERS
             11.2.1 ZHEJIANG HISUN BIOMATERIALS CO., LTD.
             11.2.2 SHANGHAI TONG-JIE-LIANG BIOMATERIALSCO., LTD.
             11.2.3 CHONGQING BOFEI BIOCHEMICAL PRODUCTS, LTD.
             11.2.4 ZHANGJIAGANG CREATE MATERIAL CO., LTD.
             11.2.5 SYNBRA TECHNOLOGY
             11.2.6 SUMITOMO CHEMICAL CO., LTD.
             11.2.7 FKUR
             11.2.8 MUSASHINO CHEMICAL LABORATORY, LTD.
             11.2.9 AKRO-PLASTIC GMBH
             11.2.10 VAISHNAVI BIO TECH
             11.2.11 CARBIOLICE
             11.2.12 SHENZHEN ESUN INDUSTRIAL CO., LTD.
             11.2.13 JIANGSU SUPLA BIOPLASTICS CO., LTD.
             11.2.14 NANTONG JIUDING BIOLOGICAL ENGINEERING CO., LTD.
             11.2.15 FLOREON

*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

12 APPENDIX (Page No. - 182)
     12.1 DISCUSSION GUIDE
     12.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
     12.3 AVAILABLE CUSTOMIZATIONS
     12.4 RELATED REPORTS
     12.5 AUTHOR DETAILS

The study involved four major activities to estimate the current market size of PLA. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources such as Factiva, Zauba, Hoovers, and Bloomberg BusinessWeek were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, regulations form agencies such as Japan Bio Plastics Association, Packaging Industry Association of India, Department of Economic and Social Affairs, and other regulatory bodies, and databases.

Primary Research

The PLA market comprises several stakeholders, such as raw material suppliers, distributors, end-use manufacturers, and regulatory organizations in the supply chain. The demand side of this market included marketing, product development/innovation teams, executives from PLA product vendors, and sales/purchase managers from PLA industry. The supply side is characterized by advancements in technology and diverse application segments. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents

Polylactic Acid (PLA) Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of PLA market. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To analyze and forecast the PLA   market size, terms of value, and volume.
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To define, describe, and forecast the market by grades, application, and end-use industries.
  • To forecast the size of the market with respect to five regions, namely, Asia Pacific (APAC), Europe, North America, South America, and the Middle East & Africa (MEA), along with their countries
  • To strategically analyze micro markets with respect to individual growth trends, future prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
  • To analyze competitive developments such as new product launch, merger & acquisition, and investment & expansion in the market
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies.

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the regions for PLA market

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
Report Code
CH 8047
Published ON
Feb, 2022
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