The report "Poly Lactic Acid Market by Grade (Thermoforming, Extrusion, Injection Molding, Blow Molding), Application (Rigid Thermoform), End-use Industry (Packaging, Consumer Goods, Agricultural, Textile, Biomedical) & Region - Global Forecast to 2028", The PLA market is projected to reach USD 3.3 billion by 2028, at a CAGR of 17.1% from USD 1.5 billion in 2023. The PLA market is mainly driven by the increase in consumer awareness and growing demand in end-use industries like packaging, consumer goods, agriculture, biomedical, textiles among other industries. Moreover, it is also driven by the rapidly developing market in the Asia Pacific region.

Browse in-depth TOC on "Polylactic Acid Market"

235 – Tables
48 – Figures
242 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=29418964

Packaging industry is projected to grow at fastest CAGR, in terms of value, during the forecast period.

Packaging is the largest end-use industry for PLA, during the forecast period. Several industrial sectors, including food and beverage, e-commerce, and FMCG, have seen the need for sustainable solutions. Packaging's special qualities make it suitable for use in a range of culinary and non-food applications, including the packaging of cigarettes, cookies, sugar confections, baked goods, noodles, and other snacks. In addition, packaging requirements have grown as e-commerce has grown.

Thermoforming grade is expected to lead the PLA market during the forecast period, in terms of value.

Thermoforming grade PLA is in high demand in the PLA market due to its exceptional characteristics that make it well-suited for thermoforming processes. Thermoforming involves heating a plastic sheet and molding it into desired shapes. PLA's thermoforming grade offers excellent heat resistance, dimensional stability, and clarity, making it ideal for packaging, disposable food containers, and consumer products. Its transparency allows for appealing product displays, while its ability to maintain shape and withstand elevated temperatures ensures durability. Moreover, PLA's biodegradability and renewable nature align with consumer preferences for eco-friendly packaging solutions, further driving the demand for thermoforming grade PLA.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=29418964

Asia Pacific is expected to be the fastest growing market for PLA during the forecast period, in terms of value.

Asia Pacific is expected to be the fastest growing market for PLA due to several key factors. The region's strong industrial and manufacturing sectors, particularly in countries like China, Japan, and South Korea, are driving the demand for PLA across diverse applications such as packaging, textiles, and automotive. Moreover, the region's large population, coupled with a growing middle class, is leading to increased consumption of packaged goods and disposable products, thereby fueling the demand for PLA-based packaging materials. Additionally, governments in the Asia Pacific region are implementing favorable policies to promote eco-friendly materials and reduce plastic waste, which is further driving the adoption of PLA and contributing to its rapid market growth.

Polylactic Acid Market Key Players

New product launches, acquisitions, investments, and expansions are the major growth strategies adopted by the key players in the market. The key global players in the PLA market include NatureWorks LLC (US), TotalEnergies Corbion (Netherlands), BASF SE (Germany), COFCO (China), Futerro (Belgium), Danimer Scientific (US), Toray Industries Inc. (Japan), Evonik Industries (Germany), Mitsubishi Chemical Corporation (Japan), Unitika Ltd. (Japan).

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=29418964

NatureWorks LLC is jointly owned by PTT Global Chemical (Thailand) and Cargill (US). NatureWorks LLC is one of the leading PLA suppliers and innovators with its Ingeo product portfolio of naturally advanced materials. It manufactures PLA from greenhouse gases such as carbon dioxide and plant derivatives such as corn, cassava, sugar cane, and beets. The company has a broad portfolio of PLA performance material Ingeo, which is used in various end-use industries such as food & beverage packaging, agriculture, building & construction, electronics, medical & hygiene, consumer goods, textiles, 3D printing, coffee capsules, cards, and non-food packaging. PLA-based performance materials are ideal for fresh food packaging and foodservice-ware applications.

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 25)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS & EXCLUSIONS 
          TABLE 1 POLYLACTIC ACID MARKET: INCLUSIONS & EXCLUSIONS
    1.4 STUDY SCOPE 
           1.4.1 MARKETS COVERED
                    FIGURE 1 POLYLACTIC ACID MARKET SEGMENTATION
           1.4.2 REGIONS COVERED
           1.4.3 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 UNITS CONSIDERED 
    1.7 LIMITATIONS 
    1.8 STAKEHOLDERS 
    1.9 SUMMARY OF CHANGES 
    1.10 RECESSION IMPACT ON POLYLACTIC ACID MARKET 
 
2 RESEARCH METHODOLOGY (Page No. - 31)
    2.1 RESEARCH DATA 
          FIGURE 2 POLYLACTIC ACID MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
           2.1.3 PRIMARIES
                    2.1.3.1 Primary interviews – Demand and supply sides
                    2.1.3.2 Key industry insights
                    2.1.3.3 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION 
          FIGURE 3 MARKET SIZE ESTIMATION: APPROACH 1
          FIGURE 4 MARKET SIZE ESTIMATION: APPROACH 2
           2.2.1 TOP-DOWN APPROACH
                    2.2.1.1 Approach for arriving at market size using top-down analysis
                                FIGURE 5 TOP-DOWN APPROACH
           2.2.2 BOTTOM-UP APPROACH
                    2.2.2.1 Approach for arriving at market size using bottom-up analysis
                                FIGURE 6 BOTTOM-UP APPROACH
    2.3 FORECAST NUMBER CALCULATION 
          FIGURE 7 DEMAND-SIDE FORECAST PROJECTIONS
    2.4 DATA TRIANGULATION 
          FIGURE 8 POLYLACTIC ACID MARKET: DATA TRIANGULATION
    2.5 FACTOR ANALYSIS 
    2.6 ASSUMPTIONS 
    2.7 LIMITATIONS & RISKS ASSOCIATED WITH POLYLACTIC ACID MARKET 
 
3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 9 THERMOFORMING GRADE TO LEAD POLYLACTIC ACID MARKET DURING FORECAST PERIOD
    FIGURE 10 RIGID THERMOFORMS APPLICATION TO LEAD MARKET DURING FORECAST PERIOD
    FIGURE 11 PACKAGING INDUSTRY TO DOMINATE OVERALL POLYLACTIC ACID MARKET BETWEEN 2023 AND 2028
    FIGURE 12 EUROPE LED POLYLACTIC ACID MARKET IN 2022
 
4 PREMIUM INSIGHTS (Page No. - 47)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN POLYLACTIC ACID MARKET 
          FIGURE 13 ASIA PACIFIC OFFERS ATTRACTIVE OPPORTUNITIES IN POLYLACTIC ACID MARKET DURING FORECAST PERIOD
    4.2 POLYLACTIC ACID MARKET, BY GRADE 
          FIGURE 14 THERMOFORMING GRADE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.3 POLYLACTIC ACID MARKET, BY APPLICATION 
          FIGURE 15 RIGID THERMOFORMS APPLICATION TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
    4.4 POLYLACTIC ACID MARKET, BY END-USE INDUSTRY 
          FIGURE 16 PACKAGING SEGMENT TO LEAD MARKET BY 2028
    4.5 POLYLACTIC ACID MARKET, BY COUNTRY 
          FIGURE 17 MARKET IN JAPAN TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
 
5 MARKET OVERVIEW (Page No. - 50)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
 
Continued...