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Europe Polylactic Acid (PLA) Market to Grow at a CAGR of 12% During 2021-2026, Driven by the Rising Use of Natural and Biodegradable Polymers

According to a new report by EMR titled, ‘Europe Polylactic Acid (PLA) Market Report and Forecast 2021-2026’, the market attained a volume of about 103 kilo tons in 2020. The industry is further expected to grow at a CAGR of 12% in the forecast period of 2021-2026 to reach a value of approximately 200.5 kilo tons by 2026.

The market for polylactic acid (PLA) in Europe is being aided by the rising use of polylactic acid (PLA) in the textile industry. The growing demand for economical, convenient, and biodegradable natural polymers owing to rising concerns regarding rapid climate change is accelerating the growth of the polylactic acid (PLA) industry. This is increasing the use of polylactic acid in the production of sustainable clothing and as a substitute for polyester fibres. Moreover, various advantages of polylactic acid (PLA) such as UV resistance and recyclability are surging its deployment in various fabrics. It can also enhance durability and comfortability, due to which it is increasingly adopted in clothing applications, hence bolstering the growth of the polylactic acid (PLA) industry in Europe.

Futerro, working mainly for the packaging industry, commenced operating the first integrated polylactic acid (PLA) production unit in China in collaboration with its past partner BBCA Biochemical in October 2020. The unit is in the city of Bengbu, which has a capacity of 30,000 tonnes per year. It is supplied by a lactic acid unit with a capacity of 80,000 tonnes. Both lactic acid and polylactic acid (PLA) units are incorporated with new, advanced, patented, and innovative technologies that enable the production of high-quality products at a competitive cost. Moreover, the company is planning to increase the production of polylactic acid (PLA) by 10,000 tonnes per year to meet the rising demand for bioplastics. This is expected to increase the application of polylactic acid (PLA) in various industries. Such expansions of production units by major companies are projected to propel the market growth in Europe.

Market Analysis by Type, Application, and Region:

  • The market, on the basis of type, can be divided into PLLA (Poly-L-lactic acid), PDLA (Poly-D-lactic acid), and PDLLA (Poly-DL-lactic acid), among others.
  • Based on application, the industry can be divided into packaging, agriculture, textile, biomedical, and electronics, among others.
  • The regional markets for polylactic acid (PLA) in Europe include Germany, Italy, France, United Kingdom, and Spain, among others.

Key Findings of the Report:

  • The market growth can be attributed to the extensive use of bioplastics in the packaging industry due to the rising demand for sustainable and renewable packaging materials.
  • The introduction of stringent government regulations regarding the use of plastic to reduce carbon emissions is aiding the market growth for polylactic acid (PLA) in Europe.
  • The surging research and development (R&D) activities to improve the functionality and flexibility of polylactic acid (PLA) are propelling the market growth.
  • The development of advanced polylactic acid (PLA) with high melting temperature and high transition temperature is increasing its application in the medical industry, therefore augmenting the industry growth in Europe.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe polylactic acid (PLA) market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, applications, and regions of polylactic acid (PLA).
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Europe market for polylactic acid (PLA) are NatureWorks LLC, Total Corbion PLA, and Futerro, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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