Bio-Polylactic Acid (PLA) Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Bio-Polylactic Acid (PLA)Market: By Raw Material (Corn, Cassava, Sugarcane & Sugar Beet, and Others), By End-User Industry (Packaging, Medical, Electronics, Agriculture, Textiles, and Other End-user Industries), and Geography

 

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Description

Bio-Polylactic Acid (PLA) Market Size is anticipated to be valued at USD 573.2 million in 2021 and is expanded to grow at a significant CAGR of 18.7% over 2022-2028. A common bio-based plastic made from bio-based monomers is bio-polylactic acid. Unlike plastic films, Bio-PLA films can hold twists and folds. The rising popularity of bio-polylactic acid films is mostly due to greater consumer health and environmental awareness. Furthermore, governments in many countries have enacted strict rules and policies in order to boost bio-polylactic acid’s appeal. The rising use of bio-PLA in 3D printing and the increased output of genetically modified corn are anticipated to present opportunities in the future. The Food and Drug Administration (FDA) and affiliated organizations advocate the use of biodegradable and food-grade plastics for beverage and snack consumption as part of their increased food safety intervention. The packaging segment is predicted to dominate the market based on end-user industries. One of the biggest users of bio-polylactic acid is the packaging sector (PLA). During the projected period, packaging demand is expected to rise in areas such as groceries, home entertainment items, and household supplies. At the same time, many industries, such as food and pharmaceutical packaging, continue to see strong demand.

Recent Market Developments:

In August 2021, continuing its global manufacturing expansion plan, NatureWorks, the world’s leading manufacturer of low-carbon polylactic acid (PLA) biopolymers made from renewable resources, has obtained final authorization from the parent company, GC International Corporation Company Limited, a subsidiary of PTT Global Chemical Public Company Limited (GC) and Cargill Incorporated (Cargill), to build a new Ingeo™️ PLA manufacturing complex in Thailand. NatureWorks plans to invest more than $600 million to construct the complex, which will include production sites for lactic acid, lactide, and polymer, making it the world’s first PLA facility designed to be fully integrated.

In Jan 2022, Danimer Scientific, Inc., and TotalEnergies Corbion are set to enter a long-term collaborative agreement for the supply of Luminy PLA, a bio-based polymer made with approximately 20% recycled content, to enhance the production of resins with blended PHA and PLA inputs.

Bio-Polylactic Acid (PLA) Market

MARKET SUMMARY
-
18.7%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 18.7%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– Europe

Bio-Polylactic Acid (PLA) Market

  • The bio-polylactic acid market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The bio-polylactic acid market is segmented based on raw material, end-user industry, and geography.
Key Players

 

  • Synbra Technology BV
  • TotalEnergies Corbion
  • COFCO International
  • Sulzer Ltd
  • Futerro
Bio-Polylactic Acid (PLA) Market

Dynamics

Growing demand for the food packaging industry is expected to drive the global bio-polylactic acid market. Bio-based materials are increasingly being used as food packaging materials due to their advantages over fossil-based plastics, such as using renewable resources in their manufacture. The global bio-polylactic acid film market is expected to be hampered by higher costs than semi-synthetic and synthetic films during the forecast period.


Asia-Pacific Got Significant Share

Bio-Polylactic Acid (PLA) Market

In 2021, Asia Pacific dominated the Bio-polylactic Acid (PLA) Films market. The economy of APAC is heavily influenced by the economic dynamics of countries like China and India, owing to rising urbanization. As a result of growing urbanization, people's lifestyles are continually changing. People in cities have adopted a more modern way of life, resulting in a growth in the use of bio-polylactic acid films as a premium product for a number of residential applications, including packaging. Rapid urbanization is fueled by factors such as increased demand for plastic packaging, faster electronic product manufacturing, increased digital printing, rising food and retail grocery sales, and the expansion of the pharmaceutical industry. As a result, the bio-polylactic acid (PLA) film market in this region is expected to grow.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Bio-Polylactic Acid (PLA)Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The Bio-Polylactic Acid (PLA) Market is projected to expand at a CAGR of 18.7% during the forecast period.

NatureWorks LLC, Sulzer Ltd, TotalEnergies Corbion, Futerro, Taghleef Industries

Asia-Pacific is the fastest-growing region for Bio-Polylactic Acid (PLA) Market


Report

Company Profile

  • Cerner Corporation
  • Accumedic Computer Systems, Inc.
  • BestNotes
  • Credible Behavioural Health Software
  • Welligent
  • NXGN Management, LLC.
  • Advanced Data Systems
  • AdvancedMD, Inc.

Description

Bio-Polylactic Acid (PLA) Market Size is anticipated to be valued at USD 573.2 million in 2021 and is expanded to grow at a significant CAGR of 18.7% over 2022-2028. A common bio-based plastic made from bio-based monomers is bio-polylactic acid. Unlike plastic films, Bio-PLA films can hold twists and folds. The rising popularity of bio-polylactic acid films is mostly due to greater consumer health and environmental awareness. Furthermore, governments in many countries have enacted strict rules and policies in order to boost bio-polylactic acid’s appeal. The rising use of bio-PLA in 3D printing and the increased output of genetically modified corn are anticipated to present opportunities in the future. The Food and Drug Administration (FDA) and affiliated organizations advocate the use of biodegradable and food-grade plastics for beverage and snack consumption as part of their increased food safety intervention. The packaging segment is predicted to dominate the market based on end-user industries. One of the biggest users of bio-polylactic acid is the packaging sector (PLA). During the projected period, packaging demand is expected to rise in areas such as groceries, home entertainment items, and household supplies. At the same time, many industries, such as food and pharmaceutical packaging, continue to see strong demand.

Recent Market Developments:

In August 2021, continuing its global manufacturing expansion plan, NatureWorks, the world’s leading manufacturer of low-carbon polylactic acid (PLA) biopolymers made from renewable resources, has obtained final authorization from the parent company, GC International Corporation Company Limited, a subsidiary of PTT Global Chemical Public Company Limited (GC) and Cargill Incorporated (Cargill), to build a new Ingeo™️ PLA manufacturing complex in Thailand. NatureWorks plans to invest more than $600 million to construct the complex, which will include production sites for lactic acid, lactide, and polymer, making it the world’s first PLA facility designed to be fully integrated.

In Jan 2022, Danimer Scientific, Inc., and TotalEnergies Corbion are set to enter a long-term collaborative agreement for the supply of Luminy PLA, a bio-based polymer made with approximately 20% recycled content, to enhance the production of resins with blended PHA and PLA inputs.

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