Comprehensive Analysis of the Polylactic Acid Market and Forecast to 2032
The global polylactic acid (PLA) market size was USD 1,072.3 million in 2023 and is projected to grow from USD 1,248.6 million in 2024 to USD 4,220.0 million in 2032, exhibiting a CAGR of 16.3% during the forecast period.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Polylactic Acid (PLA) Market Size, Share, and Industry Forecast to 2032 The global polylactic acid (PLA) market size was USD 1,072.3 million in 2023 and is projected to grow from USD 1,248.6 million in 2024 to USD 4,220.0 million in 2032, exhibiting a CAGR of 16.3% during the forecast period. Fortune Business Insights published this information in its latest report, titled, Polylactic Acid Market, 2025-2032. The growth is attributable to the rising packaging industry and the growing demand for biodegradable plastics that will propel the demand for advanced polylactic acid during the forecast period. Polylactic acid (PLA) is a biodegradable and bioactive thermoplastic derived from renewable resources such as corn starch, sugarcane, or cassava roots. Due to its eco-friendly nature, PLA has gained substantial interest across various industries such as packaging, agriculture, and medical applications. This report explores the current market size, key trends, industry dynamics, and segmentation of the PLA market, providing a detailed analysis of the industry s growth prospects. Get a Free Sample PDF: - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/polylactic-acid-pla-market- 103429 Market Segmentation: The polylactic acid market is segmented based on raw materials, application, and region. By Raw Material Corn: Corn-based PLA holds the largest market share, accounting for approximately 60% of the total market. Corn is widely used because of its availability and lower production cost. Sugarcane: Sugarcane-based PLA is gaining traction due to its sustainable nature, contributing around 25% to the overall market. Cassava: Cassava-based PLA is still in its nascent stage but is expected to grow significantly in regions where cassava is abundantly available. By Application Packaging: The packaging segment dominates the polylactic acid market, with a share of over 40%, owing to the increasing demand for biodegradable packaging solutions in food & beverage, consumer goods, and e-commerce industries. Agriculture: PLA is used in agricultural films, mulch films, and other applications where biodegradability is a key advantage. The agriculture segment holds about 15% of the total market share.
Medical: The medical segment accounts for around 10% of the market. PLA is widely used in medical implants, sutures, and drug delivery systems due to its biocompatibility and bioresorbability. Textiles: PLA is gaining momentum in the textile industry for producing eco-friendly fibers, contributing to around 12% of the total market. Others: Other applications include automotive components, electronics, and 3D printing, which collectively account for the remaining 23%. What does the Report include? The global market for polylactic acid report includes a detailed analysis using several research methodologies and focuses on crucial aspects such as leading companies, application, and product. It further includes accurate insights into latest market trends and highlights vital industry developments. Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/polylactic-acid-pla-market- 103429 DRIVING FACTORS Rising Packaging Industry to Favor Market Growth According to the United Nations Joint Group of Experts on the Scientific Aspects of Marine Pollution (GESAMP), it is estimated that around 80% of the land-based plastic sources account for the overall marine pollution globally. The rising concerns over the disposal of plastic is expected to boost the adoption of biodegradable plastics such as polylactic acid that are derived from biological raw materials across the packaging sector. REGIONAL INSIGHTS: Europe The region stood at USD 285,573.1 thousand in 2020 and is expected to hold the highest position in the global market in the forthcoming years. This is attributable to the increasing demand for organic and natural food products that is likely to drive the demand for polylactic acid for packaging purposes in the region. North America The market in the region is expected to showcase exponential growth in the forthcoming years. This is ascribable to factors such as the increasing consumption of ready-to-eat packaged food products that has witnessed massive surge since the advent of the COVID-19 pandemic. Asia-Pacific The region is expected to register significant polylactic acid market share backed by the growing demand for convenience food products due to high disposable income and the growing population in the region between 2021 and 2028. COMPETITIVE LANDSCAPE Product Innovation by Prominent Companies to Maintain their Market Dominance
The global market for polylactic acid is fragmented by the presence of major companies focusing on maintaining their dominance by introducing innovative products and further expanding their portfolio. In addition to this, other key players in the global marketplace are leveraging the opportunities to maintain their presence by adopting strategies such as facility expansion, merger and acquisition, and partnership that is likely to bode well for the market growth during the forecast period. Industry Development: October 2019 Evonik introduced the first-ever bioresorbable series of polylactide- polyethylene glycol (PLA-PEG) copolymers. The company reports that the copolymers can be extensively adopted for implantable medical device applications. List of the Companies Profiled in the Global Market: NatureWorks (Minnetonka, Minnesota, United States) Total Corbion PLA (Gorinchem, Netherlands) BASF SE (Ludwigshafen, Germany) Sulzer (Winterthur, Switzerland) Other Key Players Inquire Before Buying This Report: https://www.fortunebusinessinsights.com/enquiry/queries/polylactic-acid-pla-market-103429 About Us: Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Address: Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner Mahalunge Road, Baner, Pune-411045, Maharashtra, India. Phone: US: +1 424 253 0390 UK: +44 2071 939123 APAC: +91 744 740 1245 Email: sales@fortunebusinessinsights.com LinkedIn Facebook Twitter
