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Asia Pacific Polylactic Acid (PLA) Market Size, Analysis: By Raw Material: Sugarcane, Corn, Cassava, Sugar Beet, Others; By Grade: Thermoforming, Injection Moulding, Extrusion, Blow Moulding, Others; By Application: Rigid Thermoforms, Films and Sheets, Bottles, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Asia Pacific Polylactic Acid (PLA) Market Outlook
The Asia Pacific polylactic acid (PLA) market is projected to grow at a CAGR of 15.2% between 2024 and 2032.
Key Takeaways
- PLA is the most commercially viable biodegradable and bio-based polymer.
- As the single-use plastic ban is spreading across the region, the use of polylactic acid is expected to rise in the packaging sector.
- As per the industry reports, 15% of Japanese household spending is spent on food and beverage products, aiding the demand for packaging for these products.
The surge in plastic pollution in Southeast Asia is compelling governments across the region to implement policies to reduce plastic waste and promote sustainable packaging solutions. For instance, Thailand through its Roadmap on Plastic Waste Management aims to achieve 100% recycling of waste by 2027. Environmental concerns are a crucial driver for the implementation of bioplastics and aid the Asia Pacific polylactic acid (PLA) market development. The rise in consumption of convenience foods also drives the demand for safe food packaging. PLA is approved by the Food and Drug Administration (FDA) for use as a food contact material. The common packaging applications of PLAs include containers, drinking cups, overwraps, and blister packages.
As per the Asia Pacific polylactic acid (PLA) market report, the raw materials for polylactic acid production, such as sugarcane and corn are widely available in the region, which provides the ease to start a PLA production unit. For instance, India on average annually produces around 35.5 crore tons of sugarcane. The sugarcane and sugar market is the country’s second-largest agro-based sector.
The biomedical sector is also flourishing in the region owing to the presence of a large number of pharmaceutical and medical technology firms. Government policies are aiding the growth of the healthcare sector. For instance, The Healthy China 2030 initiative is focused on expanding the size of the nation’s health service industry to around USD 2.4 trillion by 2030. An evolving healthcare technology ecosystem in India is positioning it as a new hub of healthcare services. The biocompatibility and biodegradability of PLA allows its use in the healthcare sector to manufacture tissue engineering scaffolds, bioabsorbable medical implants, and delivery system materials.
Market Segmentation
Asia Pacific Polylactic Acid (PLA) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Raw Material:
- Sugarcane
- Corn
- Cassava
- Sugar Beet
- Others
Market Breakup by Grade:
- Thermoforming
- Injection Moulding
- Extrusion
- Blow Moulding
- Others
Market Breakup by Application:
- Rigid Thermoforms
- Films and Sheets
- Bottles
- Others
Market Breakup by End Use:
- Packaging
- Consumer Goods
- Agriculture
- Textile
- Biomedical
- Others
Market Breakup by Country:
- China
- Japan
- India
- ASEAN
- Australia
- Others
Competitive Landscape
The key players in the polylactic acid (PLA) market in Asia Pacific are researching to produce high-quality polylactic acid (PLA) products to meet the needs of end-user markets.
- Unitika Ltd
- Jiangxi Keyuan Bio-Material Co., Ltd.
- Jilin COFCO Biomaterial Co., Ltd
- NatureWorks LLC
- TotalEnergies SE
- FUTERRO S.A.
- BASF SE
- Fujian Greenjoy Biomaterial Co., Ltd.
- China BBCA Group
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Raw Material |
|
| Breakup by Grade |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Polylactic Acid (PLA) Market Overview
8.1 Key Industry Highlights
8.2 Global Polylactic Acid (PLA) Historical Market (2018-2023)
8.3 Global Polylactic Acid (PLA) Market Forecast (2024-2032)
8.4 Global Polylactic Acid (PLA) Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Asia Pacific Polylactic Acid (PLA) Market Overview
9.1 Key Industry Highlights
9.2 Asia Pacific Polylactic Acid (PLA) Historical Market (2018-2023)
9.3 Asia Pacific Polylactic Acid (PLA) Market Forecast (2024-2032)
10 Asia Pacific Polylactic Acid (PLA) Market by Raw Material
10.1 Sugarcane
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Corn
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Cassava
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Sugar Beet
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Polylactic Acid (PLA) Market by Grade
11.1 Thermoforming
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Injection Moulding
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Extrusion
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Blow Moulding
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Asia Pacific Polylactic Acid (PLA) Market by Application
12.1 Rigid Thermoforms
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Films and Sheets
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Bottles
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Asia Pacific Polylactic Acid (PLA) Market by End Use
13.1 Packaging
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Consumer Goods
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Agriculture
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Textile
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Biomedical
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Asia Pacific Polylactic Acid (PLA) Market by Country
14.1 China
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Japan
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 India
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 ASEAN
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Australia
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators of Demand
15.4 Key Indicators of Price
16 Trade Data Analysis (HS Code – 390770)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Unitika Ltd
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Jiangxi Keyuan Bio-Material Co., Ltd.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Jilin COFCO Biomaterial Co., Ltd
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 NatureWorks LLC
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 TotalEnergies SE
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 FUTERRO S.A.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 BASF SE
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Fujian Greenjoy Biomaterial Co., Ltd.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 China BBCA Group
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Polylactic Acid (PLA) Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific Polylactic Acid (PLA) Market: Key Industry Highlights, 2018 and 2032
3. Asia Pacific Polylactic Acid (PLA) Historical Market: Breakup by Raw Material (USD Million), 2018-2023
4. Asia Pacific Polylactic Acid (PLA) Market Forecast: Breakup by Raw Material (USD Million), 2024-2032
5. Asia Pacific Polylactic Acid (PLA) Historical Market: Breakup by Grade (USD Million), 2018-2023
6. Asia Pacific Polylactic Acid (PLA) Market Forecast: Breakup by Grade (USD Million), 2024-2032
7. Asia Pacific Polylactic Acid (PLA) Historical Market: Breakup by Application (USD Million), 2018-2023
8. Asia Pacific Polylactic Acid (PLA) Market Forecast: Breakup by Application (USD Million), 2024-2032
9. Asia Pacific Polylactic Acid (PLA) Historical Market: Breakup by End Use (USD Million), 2018-2023
10. Asia Pacific Polylactic Acid (PLA) Market Forecast: Breakup by End Use (USD Million), 2024-2032
11. Asia Pacific Polylactic Acid (PLA) Historical Market: Breakup by Country (USD Million), 2018-2023
12. Asia Pacific Polylactic Acid (PLA) Market Forecast: Breakup by Country (USD Million), 2024-2032
13. Major Exporting Countries by Value
14. Major Importing Countries by Value
15. Major Exporting Countries by Volume
16. Major Importing Countries by Volume
17. Asia Pacific Polylactic Acid (PLA) Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 15.2% between 2024 and 2032.
Since PLA is derived from plant material such as corn or sugar cane, it reduces the demand for fossil fuels used to make conventional plastics. Additionally, it is recyclable, biodegradable, and compostable.
Polylactic Acid (PLA) is considered non-allergenic. It is a polyester made from renewable biomass, including fermented plant starch, such as corn, sugarcane, or cassava.
The major drivers of the market include rising plastic pollution, a growing need for sustainable packaging materials, and a wide availability of raw materials.
Key trends aiding market expansion include growing awareness of environmental pollution, research in raw materials for producing bioplastics, and governmental focus on enhancing the use of bioplastics.
Major countries in the market are China, Japan, India, ASEAN, Australia, and others.
The raw materials of polylactic acid (PLA) are sugarcane, corn, cassava, sugar beet, and others.
Key players in the market are Unitika Ltd, Jiangxi Keyuan Bio-Material Co., Ltd., Jilin COFCO Biomaterial Co., Ltd, NatureWorks LLC, TotalEnergies SE, FUTERRO S.A., BASF SE, Fujian Greenjoy Biomaterial Co., Ltd., China BBCA Group, and others.
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