Global Polylactic Acid Market Insights Forecasts to 2033

• The Global Polylactic Acid Market Size was Valued at USD 1.43 Billion in 2023
• The Market Size is Growing at a CAGR of 16.40% from 2023 to 2033
• The Worldwide Polylactic Acid Market Size is Expected to Reach USD 6.53 Billion by 2033
• North America is expected to Grow the fastest during the forecast period.

The Global Polylactic Acid Market Size is Anticipated to Exceed USD 6.53 Billion by 2033, Growing at a CAGR of 16.40% from 2023 to 2033.

Market Overview

Polylactic acid (PLA) is a thermoplastic polyester manufactured from renewable resources such as fermented plant starch extracted from corn, cassava, sugarcane, or sugar beet pulp. PLA, also known as poly (lactic acid) or polylactide, is a biodegradable and environmentally beneficial polymer that has grown in popularity due to its renewable source, ease of production, and recycling. It is a versatile polymer with a wide range of commercial applications, including medical, food packaging, textile, and automotive. PLA's qualities, such as biodegradability, biocompatibility, and bio absorbability, make it a preferred choice in biomedicine and sustainable packaging, helping to its widespread use as replacement for conventional plastics. Bioplastics are environmentally acceptable alternatives to standard plastics, particularly in flexible and rigid packaging applications, because of their bio-based, compostable, and biodegradable nature. Bioplastics are materials in which entirely of the carbon comes from renewable raw resources including algae, corn, sugarcane, bacteria, potatoes, seashells, or starch. The increasing popularity of producing energy-efficient and electric vehicles has prompted global automobile manufacturers to include plastics in automotive components to reduce total vehicle weight. Thermoplastic plastic makers are working together to create plastics suitable for usage in the automobile industry, which is projected to fuel total market growth.

Report Coverage

This research report categorizes the market for the global polylactic acid market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global polylactic acid market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global polylactic acid market.

Driving Factors

Polylactic acid (PLA) offers a potential solution to reduce reliance on fossil fuels and transition towards a circular economy. PLAs offer environmental advantages such as decreased CO2 footprint, reduced fossil resource reliance, and increased use of renewable resources. Major multinationals are increasing their use of biodegradable plastics in consumer-packaged goods, supermarkets, and food service markets. PLA packaging is essential for fresh fruit, food cutlery, and compostable bags. Green packaging offers benefits like reduced dependence on fossil fuels, reduced resource utilization, recyclable products, energy-efficient manufacturing methods, and renewable sources. The growing demand for sustainable packaging is expected to fuel the polylactic acid market. Growing government initiatives to regulate the use of conventional non-biodegradable plastics are expected to boost growth. The growing consumer focus on sustainability, as well as new applications like automotive and biomedical, are expected to benefit the global market during the next ten years. Hence, these factors are significant growth of the global polylactic acid market during the forecast period.

Restraining Factors

The high cost of processing polylactic acid in traditional plastics is offset by the cheaper synthetic plastics. Technological hurdles and a shift towards bio-based feedstock, primarily agricultural products, pose challenges in manufacturing cheaper biodegradable plastics, potentially competing with food supplies. Hence, these factors may hamper the market growth of the global polylactic acid market during the forecast period.

Market Segmentation

The global polylactic acid market share is classified into raw material, form, application, and end user.

• The corn segment is expected to hold the largest share of the global polylactic acid market during the forecast period.

Based on the raw material, the global polylactic acid market is categorized into corn, cassava, sugarcane, sugar beet, and others. Among these, the corn segment is expected to hold the largest share of the global polylactic acid market during the forecast period. The segmental growth can be attributed to corn is easily available and inexpensive; many polylactic acid manufacturers use corn starch to produce polylactic acid. The rising environmental risk related to the usage of virgin plastics has raised demand for bio-based polymers such as polylactic acid from a wide range of end-use industries, like automotive, packaging, electrical electronics, and others.

• The films & sheets segment is expected to grow at the fastest CAGR during the forecast period.   

Based on the form, the global polylactic acid market is categorized into films & sheets, coatings, fiber, and others. Among these, the films & sheets segment is expected to grow at the fastest CAGR during the forecast period. The growth can be attributed to increasing the expansion of the food & beverages and packaging material. PLA films and sheets are utilized in products like disposable cutlery, cups, clamshell containers, etc., which are acquiring greater drive with the booming expansion of food delivery services globally. Thus, the segment is expected to grow at the fastest CAGR during the forecast period.

• The packaging segment is expected to hold a significant share of the global polylactic acid market during the forecast period.

Based on the application, the global polylactic acid market is categorized into packaging, transport, agriculture, medical, electronics, textile, hygiene, and others. Among these, the packaging segment is expected to hold a significant share of the global vaccine adjuvant market during the forecast period. The segmental growth can be attributed to the packaging industry being one of the main consumers of biodegradable polymers, which propel the PLA market. PLA's biodegradability and compostability make it an appealing option for packaging applications, especially for food and beverage products with high environmental concerns.

• The biodegradable medical devices segment is expected to hold a significant share of the global polylactic acid market during the forecast period.

Based on the end user, the global polylactic acid market is categorized into plastic films, bottles, and biodegradable medical devices. Among these, the biodegradable medical devices segment is expected to hold a significant share of the global vaccine adjuvant market during the forecast period. The segmental growth can be attributed to the increasing focus on sustainability and environmental concerns in the healthcare sector is boosting demand for biodegradable polymers such as polylactic acid.

Regional Segment Analysis of the Global Polylactic Acid Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific is anticipated to hold the largest share of the global polylactic acid market over the predicted timeframe.

Asia-Pacific is projected to hold the largest share of the global polylactic acid market over the forecast period. The regional growth can be attributed to the Asia Pacific has large populations and an increasing middle class, which results in greater consumption of packaged goods and throwaway products, driving up demand for PLA-based packaging materials. Government laws that promote eco-friendly materials, as well as attempts to reduce plastic waste, have boosted PLA usage in the region, adding to the market's rapid rise. Countries in Asia-Pacific invest in bioplastics to reduce reliance on traditional plastics, with PLA's biodegradability and composability attracting demand from the growing middle class.

North America is expected to grow at the fastest CAGR growth of the global polylactic acid market during the forecast period. The growth can be attributed to the region's growing textile demand, driven by applications in agriculture, transportation, construction, and medical which is expected to boost polylactic acid consumption. The global major producer of packaging materials, increasing food packaging production and consumption in the country.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global polylactic acid market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies  

• BASF SE
• The DOW Chemical Company
• TotalEnergies Corbion bv
• Corbion
• TEIJIN LIMITED.
• JIANGSU SUPLA BIOPLASTICS CO., LTD.
• NatureWorks LLC
• Synbra Technology
• COFCO
• Galactic
• Zhejiang Hisun Biomaterials Co., Ltd.
• Sulzer Ltd
• Futerro
• Hitachi, Ltd.
• Musashino Chemical Laboratory, Ltd
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2023, TotalEnergies Corbion collaborated with Bluepha Co. Ltd to make advanced sustainable biomaterials solutions in China. This is made possible by integrating Bluepha polyhydroxyalkanoates (PHA) and Luminy® polylactic acid technology.

• In April 2023, NatureWorks LLC stated its collaboration with Jabil Inc. to provide the latest polylactic acid-based powder for particular laser sintering 3D printing platforms.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global polylactic acid market based on the below-mentioned segments: 

Global Polylactic Acid Market, By Raw Material

• Corn
• Cassava
• Sugarcane
• Sugar Beet
• Others

Global Polylactic Acid Market, By Form

• Films & Sheets
• Coatings
• Fiber
• Others

Global Polylactic Acid Market, By Application

• Packaging
• Transport
• Agriculture
• Medical
• Electronics
• Textile
• Hygiene
• Others

Global Polylactic Acid Market, By End User

• Plastic Films
• Bottles
• Biodegradable Medical Devices

Global Polylactic Acid Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa