Key Market Overview:
Polylactic Acid Market size was worth USD 1213.9 Million in 2021, accounting for a CAGR of 7.2%% during the forecast period (2022-2030), and the market is projected to be worth USD 2239.9 Million by 2030.
Polylactic Acid (PLA) is a renewable and biodegradable thermoplastic obtained from natural resources such as corn starch, sugarcane, or other plant-based materials. It is produced through a process called fermentation, in which the starch or sugar is broken down into lactic acid, which is then polymerized to form PLA. PLA is typically used in applications such as food packaging, 3D printing, disposable tableware, medical implants, and others. While the production process PLA generates less greenhouse gas emissions compared to traditional petroleum-based plastics. Furthermore, according to MRC sources, PLA is the second most widely produced bioplastic, after thermoplastic starch. It shares similar characteristics to traditional petroleum-based plastics such as polypropylene, polyethylene, and polystyrene, while also being biodegradable. These qualities make it an attractive option for businesses looking to reduce their carbon footprint and create sustainable products. Additionally, PLA’s versatility in use makes it an excellent substitute for conventional plastics, providing companies with the opportunity to meet the evolving needs of consumers and industries alike.
PLA has gained popularity in the market due to its composability and biodegradability, which makes it an eco-friendly option. Moreover, its low melting point, as compared to traditional petroleum-based plastics, makes it an attractive option for low-temperature applications such as food packaging. These unique features have created opportunities for companies to innovate and provide sustainable solutions to their customers.
Market Dynamics
Driver
- Increasing demand for biodegradable and eco-friendly products has fuelled the market growth:
In the past few years, there has been increasing in the demand for polylactic acid as a sustainable alternative to conventional plastics among the end-use industries. This is attributed to the rising inclination of consumers towards the usage of eco-friendly products globally. The confluence of the above-mentioned facts has propelled the overall growth of the market in terms of value sales.
- The Government’s supportive regulations for eco-friendly products:
The support and regulations by the government aiming to reduce the harmful impact of plastic waste on the environment is driving the growth of the market globally.
Restraint
The potential presence of the substitutes in the market such as polyhydroxyalkanoates (PHA), polybutylene succinate (PBS), polyglycolic acid (PGA), and others hampers the market growth. Also, the shortage of PLA is affecting supply and demand all over the world. Additionally, PLA relies on raw materials that face price volatility such as sugarcane. Also, the recycling infrastructure for polylactic acid is limited. The above-mentioned factors are restraining the growth of the market.
Opportunities
The demand for 3D printing technology is on the rise, as more industries realize its potential to drive innovation, reduce costs, and enhance efficiency. This growth will drive the demand for high-quality 3D printing materials, with PLA emerging as a popular option due to its biodegradable nature and ability to produce strong, lightweight, and precise models. This trend presents opportunities for companies in the PLA market to leverage the growing market for 3D printing materials and expand their customer base by meeting the evolving needs of several industries such as automotive, aerospace, healthcare, and more.
Polylactic Acid Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Million) | 2239.9 Million |
| CAGR (2022-2030) | 7.2% |
| By Type | PLLA (poly (L-lactic acid), PDLA (poly (D-lactic acid), and PDLLA (poly DL-lactic acid) |
| By Raw Material | Corn Starch, Sugarcane, Cassava, and Others. |
| By Application | Packaging, Textiles, 3D Printing, Film & Laminating, Injection Molding, and Others. |
| By End-use Industry | Food & Beverages, Healthcare, Textiles, and Others. |
| By Geography | Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America |
| Key Players | Mitsubishi Chemical Inc., Futerro, Jiangxi Keyuan Bio-Material Co., Ltd., Total Corbion PLA, Zhejiang Hisun Biomaterials Co., Ltd., Shanghai Tong-Jie-Liang Biomaterials Co., Ltd., Nature Works LLC, BASF SE, and TORAY INDUSTRIES, INC. |
Market Segmentation:
By Type
Based on type the polylactic acid market is segmented into PLLA (poly (L-lactic acid), PDLA (poly (D-lactic acid), and PDLLA (poly DL-lactic acid). The poly (L-lactic acid) (PLLA) segment holds the largest market share. This is due to its excellent mechanical properties, biocompatibility, and biodegradability, which make it suitable for a variety of applications, such as medical implants, drug delivery systems, packaging, and textiles. In addition, PLLA has a high melting point and can be easily processed, which makes it a popular choice for manufacturers. Furthermore, the PDLA (poly (D-lactic acid)) segment is anticipated to grow with the fastest CAGR over the forecast period. As, PDLA degrades more slowly than other types of PLA, which is beneficial for long-term implants and drug delivery systems. Additionally, PDLA blends with other types of PLA to create copolymers with tailored properties, which increases its potential use in multiple applications.
By Raw Material
The raw material segment of the polylactic acid market is segmented into corn starch, sugarcane, cassava, and others. Corn Starch is the largest shareholder in the polylactic acid (PLA) market as a source of raw material. This is owing to its abundant availability, ease of processing, and low cost. Corn starch is extensively utilized as a feedstock for producing PLA and has a significant market share compared to other sources. This makes it the preferable choice for many PLA product manufacturers. Additionally, the improvement of new processing technologies and the rising demand for eco-friendly and sustainable products has boosted the growth of the corn starch-based PLA market. However, sugarcane is expected to be the fastest-growing segment during the forecast period. Sugar cane is a renewable resource that produces high-quality PLA. Besides, its high quality, sugar cane-based PLA is expensive compared to cornstarch-based PLA.
By Application
The application segment is segmented into packaging, textiles, 3D printing, film & laminating, injection molding, and others. The packaging application segment holds the largest share of the market. This is due to the increasing demand for biodegradable packaging solutions, and the rising concerns about plastic waste and its adverse impact on the environment. Additionally, PLA has favorable properties such as durability and stiffness, which make it preferable for a wide range of packaging applications, including food packaging, cosmetic packaging, and beverage packaging. However, the textiles segment is expected to witness the fastest CAGR over the forecast period. As, PLA is used in the production of biodegradable and compostable textiles, such as clothing and nonwoven fabrics.
By End-use Industry
The end-user segment of the polylactic acid market is categorized into food & beverages, healthcare, textiles, and others. The food & beverage industry accounted for the largest share of the polylactic acid market in the year 2021. PLA is extensively used in the food and beverage industry for packaging, due to its biodegradability and its resistance to grease and moisture. The usage of PLA packaging in the food and beverage industry helps to reduce plastic waste in the food and beverage industry. Furthermore, PLA is employed in multiple food and beverage packaging applications, including food trays, lids, clamshells, containers, and also as beverage bottles and lids. However, the healthcare segment is the fastest-growing segment in the market owing to its usage in tissue engineering, cardiovascular implants, orthopedic interventions, cancer therapy, and drug carriers.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. North America dominated the market due to the favorable government rules for the manufacturing of polylactic acid along with easy accessibility of the raw materials of polylactic acid in the countries such as the U.S. However, the Asia Pacific region is anticipated to register the fastest CAGR during the forecast years, owing to the R&D investment by major market players and rising awareness about the use of bioplastics in the region. The market for biodegradable products is growing due to government subsidies provided for their manufacturing, as a means to address environmental concerns.
Polylactic Acid Market Competitive Landscape
The competitive landscape of the market has been assessed in the report, with in-depth profiles of the key players operating in the industry. Further, the rise in Research and Development (R&D), product innovation, and multiple business strategies, have boosted the growth of the Sample Preparation market. Key players in the market include-
- Mitsubishi Chemical Inc.
- Futerro
- Jiangxi Keyuan Bio-Material Co., Ltd.
- Total Corbion PLA
- Zhejiang Hisun Biomaterials Co., Ltd.
- Shanghai Tong-Jie-Liang Biomaterials Co., Ltd.
- Nature Works LLC (Cargill, Incorporated)
- BASF SE
- TORAY INDUSTRIES, INC.
Recent developments
- In 2021, Total Corbian PLA introduced the recycled PLA series. Under the brand name of Luminy Rpla. This new product is chemically recycled products.
- In 2021, NatureWorks LLC established a fully incorporated Ingeo PLA manufacturing unit in Thailand. The unit is anticipated to be fully operational by 2024.
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