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Latin America 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
Latin America Polylactic Acid (PLA) Market Outlook
The Latin America polylactic acid (PLA) market is estimated to grow at a CAGR of 10.2% during 2024-2032.
Key Takeaways
- Stringent laws in several Mexican states, such as the State of Guerrero and Jalisco prohibiting the use of plastic bags, are aiding the demand for bioplastics.
- Brazil is the world’s fourth-largest producer of plastic waste.
The rising plastic waste generated by the country is compelling the government to encourage the production and adoption of bioplastics, aiding the Latin America polylactic acid (PLA) market growth. For instance, according to the Blue Keepers project which is part of the United Nations (UN) Global Compact in Brazil, the country discards around 3.44 million tons of plastic bags, bottles, shampoo containers, straws, and polystyrene into the environment annually. Further, Argentinean consumers discards around 12 million plastic bottles daily. Further, less than 25% of these get recycled. The heaps of plastic waste in roadside dumps and landfills make the switching to bioplastics and bio-based plastics sustainable for Latin Americans.
Further, the raw materials for PLA production include corn, cassava, sugar beet, and sugarcane. Brazil is a significant corn producer globally. During 2021-2022, the country produced 116 million metric tons of corn. The shift towards sustainable materials is also becoming a standard in the Mexican packaging sector, with companies widely using plant-based plastics, biodegradable compounds, and recycled paper. Packaging made from cornstarch-based bioplastics is gaining prevalence as an eco-friendly alternative to traditional plastic.
As per the Latin America polylactic acid (PLA) market report, PLA plays a crucial role in the biomedical sector. A variety of PLA blends can be deployed for a variety of biomedical applications such as drug delivery, tissue engineering, implants, and sutures.
Market Segmentation
Latin America 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:
- Brazil
- Mexico
- Argentina
- Others
Competitive Landscape
The key players in the polylactic acid (PLA) market in Latin America are investing in research to develop advanced PLA products to meet the sustainability requirements of end-use markets.
- BASF SE
- NatureWorks LLC
- TotalEnergies SE
- FUTERRO S.A.
- Unitika Ltd
- Jiangxi Keyuan Bio-Material Co., Ltd
- Jilin COFCO 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:
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| Breakup by Raw Material |
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| Breakup by Grade |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*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 Latin America Polylactic Acid (PLA) Market Overview
9.1 Key Industry Highlights
9.2 Latin America Polylactic Acid (PLA) Historical Market (2018-2023)
9.3 Latin America Polylactic Acid (PLA) Market Forecast (2024-2032)
10 Latin America 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 Latin America 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 Latin America 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 Latin America 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 Latin America Polylactic Acid (PLA) Market by Country
14.1 Brazil
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mexico
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Argentina
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 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 BASF SE
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 NatureWorks LLC
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 TotalEnergies SE
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 FUTERRO S.A.
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 Unitika Ltd
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 Jiangxi Keyuan Bio-Material Co., Ltd
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 Jilin COFCO Biomaterial Co., Ltd
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 China BBCA Group
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 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. Latin America Polylactic Acid (PLA) Market: Key Industry Highlights, 2018 and 2032
3. Latin America Polylactic Acid (PLA) Historical Market: Breakup by Raw Material (USD Million), 2018-2023
4. Latin America Polylactic Acid (PLA) Market Forecast: Breakup by Raw Material (USD Million), 2024-2032
5. Latin America Polylactic Acid (PLA) Historical Market: Breakup by Grade (USD Million), 2018-2023
6. Latin America Polylactic Acid (PLA) Market Forecast: Breakup by Grade (USD Million), 2024-2032
7. Latin America Polylactic Acid (PLA) Historical Market: Breakup by Application (USD Million), 2018-2023
8. Latin America Polylactic Acid (PLA) Market Forecast: Breakup by Application (USD Million), 2024-2032
9. Latin America Polylactic Acid (PLA) Historical Market: Breakup by End Use (USD Million), 2018-2023
10. Latin America Polylactic Acid (PLA) Market Forecast: Breakup by End Use (USD Million), 2024-2032
11. Latin America Polylactic Acid (PLA) Historical Market: Breakup by Country (USD Million), 2018-2023
12. Latin America 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. Latin America Polylactic Acid (PLA) Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 10.2% between 2024 and 2032.
Polylactic Acid (PLA)’s biodegradation time makes it an ideal choice for in vivo implantation. The combination of PLA with materials such as glass particles and PEG allows for better control of the scaffold's physical and mechanical properties to improve the printing process.
PLA’s biodegradability and biocompatibility constitute an ideal vehicle for parenteral-controlled drug delivery systems.
The major drivers of the market include rising plastic pollution caused by non-biodegradable plastic packaging, a ban on plastic use, and a wide availability of corn to produce PLA.
Key trends aiding market expansion include growing awareness of environmental pollution, research in raw materials for producing bioplastics, and a ban on non-biodegradable plastics in several countries.
Major countries in the market are Brazil, Mexico, Argentina, and others.
The raw materials of polylactic acid (PLA) are sugarcane, corn, cassava, sugar beet, and others.
Key players in the market are BASF SE, NatureWorks LLC, TotalEnergies SE, FUTERRO S.A., Unitika Ltd, Jiangxi Keyuan Bio-Material Co., Ltd, Jilin COFCO Biomaterial Co., Ltd, China BBCA Group, and others.
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