The Business Research Company’s report on the Polylactic Acid Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the polylactic acid market in recent years?
The growth in the personal care sector is expected to propel the growth of the polylactic acid market going forward. The personal care sector provides a diverse range of products and services aimed at improving and maintaining an individual’s look and personal cleanliness. The growth in the personal care sector is due to several factors, such as consumer preferences, e-commerce growth, aging populations, and health and wellness awareness. Polylactic acid (PLA) is increasingly used in personal care products for sustainable packaging solutions and biodegradable formulations that reduce environmental impact. For instance, in July 2024, according to a report published by the British Beauty Council, a UK-based organization, in 2023, the personal care sector contributed £27.2 billion ($30.44 billion) to the GDP, marking an 11% rise compared to 2022. This growth is attributed to a 10% increase in household spending on personal care products and services in the UK. Therefore, the growth in the personal care sector is driving the growth of the polylactic acid market.
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What is the projected market size of the polylactic acid industry, and how is it expected to grow?
The polylactic acid market size has grown rapidly in recent years. It will grow from $1.36 billion in 2024 to $1.63 billion in 2025 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to emergence of eco-friendly alternatives, rise in bioplastics demand, growth in packaging sector, consumer shift in preferences, commercialization efforts.
The polylactic acid market size is expected to see rapid growth in the next few years. It will grow to $3.34 billion in 2029 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to global awareness campaigns, expansion of end-use industries, supply chain development, emerging market demand, investment in R&D. Major trends in the forecast period include biodegradability and sustainability, environmental regulations, consumer awareness and preference, shift in packaging trends, market entry of large players.
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Who are the key players driving competition in the polylactic acid market?
Major companies operating in the polylactic acid market are Total Corbion PLA, NatureWorks LLC, Futerro SA, COFCO Group, Jiangxi Keyuan Bio-Material Co. Ltd., Shanghai Tong-Jie-Liang Biomaterials Co. Ltd., Zhejiang Hisun Biomaterials Co. Ltd., Evonik Industries AG, Synbra Technology BV, BASF SE, Mitsubishi Chemical Holdings Corporation, Toray Industries Inc., Polyvel Inc., Musashino Chemical Laboratory Ltd., Radici Partecipazioni SpA, Anhui BBCA Biochemical Co. Ltd., Carbios SA, Chengdu Polyster Co. Ltd., Corbion N.V., Danimer Scientific Inc., FKuR Kunststoff GmbH, GC Innovation America, Good Natured Products Inc., Hainan Yisheng Petrochemical Co. Ltd., Hitachi Chemical Company Ltd., Jiangsu Jiuding New Material Co. Ltd., Kingfa Sci. & Tech. Co. Ltd., Nantong Jiuding Biological Engineering Co. Ltd., Shenzhen Esun Industrial Co. Ltd.
What key trends are expected to drive the polyglycolic acid market during the forecast period?
Technological advancement is a key trend gaining popularity in the polylactic acid market. Major companies in the polylactic acid market are advancing in technologies and research and development, supporting the growing demand for biodegradable materials. For instance, in December 2023, Suzler, a Switzerland-based industrial engineering and manufacturing firm, launched SULAC, an advanced technology designed to enhance the conversion of lactic acid into lactide, a crucial component for producing polylactic acid (PLA). This launch aims to meet the rising market demand for sustainable bioplastics, facilitating a more efficient production process and supporting the broader adoption of circular manufacturing practices.
Which key geographies are driving the growth of the polylactic acid market?
North America was the largest region in the polylactic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polylactic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the polylactic acid market?
The polylactic acid market covered in this report is segmented –
1) By Type: Racemic PLLA, PDLA, Regular PLLA, PDLLA, PLA Blends
2) By Raw Material: Corn Starch, Sugarcane And Sugar Beet, Cassava, Other Raw Materials
3) By Form: Films And Sheets, Coatings, Fiber, Other Forms
4) By Application: Packaging, Agriculture, Transport, Electronics, Textiles
Subsegments:
1) By Racemic PLLA: High Molecular Weight Racemic PLLA, Low Molecular Weight Racemic PLLA
2) By PDLA: High Molecular Weight PDLA, Low Molecular Weight PDLA
3) By Regular PLLA: High Molecular Weight Regular PLLA, Low Molecular Weight Regular PLLA
4) By PDLLA: High Molecular Weight PDLLA, Low Molecular Weight PDLLA
5) By PLA Blends: PLA With Other Biopolymers, PLA With Additives
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How is the polylactic acid market defined, and what are its core characteristics?
Polylactic acid is a thermoplastic monomer derived from organic, renewable materials such as sugar cane or maize starch. Polylactic acids are made from biomass resources. It is used for sustainable packaging due to its exceptional clarity and environmental friendliness.
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