The Asia Pacific Polylactic Acid Market would witness market growth of 21.6% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 71,875.9 Tonnes, showcasing a growth of 18.7% (2019-2022).
In the medical field, PLA is used to manufacture biocompatible and absorbable sutures, surgical mesh, and drug delivery systems. Its biodegradability eliminates the need for a second surgery to remove implants, reducing patient discomfort and healthcare costs. PLA is gaining traction in the automotive sector due to its potential for lightweight and biodegradable components. It is used in interior and exterior parts, reducing the overall weight of vehicles and contributing to improved fuel efficiency. PLA's biodegradability, ease of processing, and wide color range makes it a popular choice for 3D printing. Its environmental friendliness aligns with the sustainability goals of many 3D printing enthusiasts and businesses. PLA is widely used as a filament for 3D printing, producing prototypes, models, and small-scale production parts easily and precisely.
Additionally, the market is dynamic and constantly evolving, influenced by various trends that reflect the changing landscape of sustainability, technology, and consumer preferences. PLA is at the forefront of the bioplastics revolution. As the demand for sustainable and biodegradable materials grows, PLA is expected to maintain its dominance in the bioplastics sector, with potential market expansion. Companies increasingly focus on closing the loop by incorporating recycling and composting systems for PLA products. This improves resource efficiency and minimizes waste, per the circular economy's tenets.
Moreover, the packaging industry in the Asia Pacific region is also robust and diverse, supporting various sectors like food and beverage, pharmaceuticals, electronics, and more. As per the data from the National Investment Promotion and Facilitation Agency of India, growth in the packaging sector is primarily driven by factors like growing pharmaceutical, food processing, manufacturing industry, FMCG, healthcare sector, and ancillary in the emerging economies like China, India, Brazil, Russia, and few other East European countries. The Indian paper industry is predominantly characterized by fragmentation. The paper industry comprises small, medium, and large mills that produce paper with daily production capacities ranging from 5 to 2000 tonnes. Packaging is currently the 5th largest sector of the Indian economy. The Indian packaging sector is expected to reach US$ 204.81 Bn by 2025. Therefore, growth in textiles and packaging sectors in the Asia Pacific region will pose lucrative growth prospects for the regional market.
The China market dominated the Asia Pacific Polylactic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $310.6 million by 2030. The Japan market is exhibiting a CAGR of 20.9% during (2023 - 2030). Additionally, The India market would experience a CAGR of 22.4% during (2023 - 2030).
Based on End-use, the market is segmented into Packaging, Agriculture, Electronics, Textile, Automotive & Transport, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Polylactic Acid Market is Predict to reach USD 4 Billion by 2030, at a CAGR of 20.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toray Industries, Inc., NatureWorks LLC, Futerro SA (GALACTIC group), COFCO Corporation, Shanghai Tong-jie-liang Biomaterials Co., LTD., Zhejiang Hisun Biomaterials Co., Ltd., BASF SE, Evonik Industries AG (RAG-Stiftung), Mitsubishi Chemical Holdings Corporation, and DANIMER SCIENTIFIC, INC.
Scope of the Study
Market Segments Covered in the Report:
By End-use (Volume, Tonnes, USD Million, 2019-2030)
- Packaging
- Agriculture
- Electronics
- Textile
- Automotive & Transport
- Others
By Country (Volume, Tonnes, USD Million, 2019-2030)
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Toray Industries, Inc.
- NatureWorks LLC
- Futerro SA (GALACTIC group)
- COFCO Corporation
- Shanghai Tong-jie-liang Biomaterials Co., LTD.
- Zhejiang Hisun Biomaterials Co., Ltd.
- BASF SE
- Evonik Industries AG (RAG-Stiftung)
- Mitsubishi Chemical Holdings Corporation
- DANIMER SCIENTIFIC, INC.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Polylactic Acid Market, by End-use
1.4.2 Asia Pacific Polylactic Acid Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter Five Forces Analysis
Chapter 4. Asia Pacific Polylactic Acid Market by End-use
4.1 Asia Pacific Packaging Market by Country
4.2 Asia Pacific Agriculture Market by Country
4.3 Asia Pacific Electronics Market by Country
4.4 Asia Pacific Textile Market by Country
4.5 Asia Pacific Automotive & Transport Market by Country
4.6 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Polylactic Acid Market by Country
5.1 China Polylactic Acid Market
5.1.1 China Polylactic Acid Market by End-use
5.2 Japan Polylactic Acid Market
5.2.1 Japan Polylactic Acid Market by End-use
5.3 India Polylactic Acid Market
5.3.1 India Polylactic Acid Market by End-use
5.4 South Korea Polylactic Acid Market
5.4.1 South Korea Polylactic Acid Market by End-use
5.5 Singapore Polylactic Acid Market
5.5.1 Singapore Polylactic Acid Market by End-use
5.6 Malaysia Polylactic Acid Market
5.6.1 Malaysia Polylactic Acid Market by End-use
5.7 Rest of Asia Pacific Polylactic Acid Market
5.7.1 Rest of Asia Pacific Polylactic Acid Market by End-use
Chapter 6. Company Profiles
6.1 NatureWorks LLC
6.1.1 Company Overview
6.1.2 Recent strategies and developments:
6.1.2.1 Partnerships, Collaborations, and Agreements:
6.1.2.2 Product Launches and Product Expansions:
6.1.3 SWOT Analysis
6.2 Futerro SA (GALACTIC group)
6.2.1 Company Overview
6.2.2 Recent strategies and developments:
6.2.2.1 Geographical Expansions:
6.2.3 SWOT Analysis
6.3 Shanghai Tong-jie-liang Biomaterials Co., LTD.
6.3.1 Company Overview
6.3.2 SWOT Analysis
6.4 Zhejiang Hisun Biomaterials Co., Ltd.
6.4.1 Company Overview
6.5 Danimer Scientific, Inc.
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Regional Analysis
6.5.4 Research & Development Expenses
6.5.5 Recent strategies and developments:
6.5.5.1 Partnerships, Collaborations, and Agreements:
6.6 Toray Industries, Inc.
6.6.1 Company Overview
6.6.2 Financial Analysis
6.6.3 Segmental and Regional Analysis
6.6.4 Research & Development Expense
6.6.5 SWOT Analysis
6.7 COFCO Corporation
6.7.1 Company Overview
6.7.2 SWOT Analysis
6.8 BASF SE
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Segmental and Regional Analysis
6.8.4 Research & Development Expense
6.8.5 Recent strategies and developments:
6.8.5.1 Partnerships, Collaborations, and Agreements:
6.8.6 SWOT Analysis
6.9 Evonik Industries AG (RAG-Stiftung)
6.9.1 Company Overview
6.9.2 Financial Analysis
6.9.3 Segmental and Regional Analysis
6.9.4 Research & Development Expenses
6.9.5 Recent strategies and developments:
6.9.5.1 Product Launches and Product Expansions:
6.9.6 SWOT Analysis
6.10. Mitsubishi Chemical Holdings Corporation
6.10.1 Company Overview
6.10.2 Financial Analysis
6.10.3 Segmental Analysis
6.10.4 Research & Development Expense
6.10.5 SWOT Analysis
TABLE 1 Asia Pacific Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 2 Asia Pacific Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 3 Asia Pacific Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 4 Asia Pacific Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 5 Asia Pacific Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 6 Asia Pacific Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 7 Asia Pacific Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 8 Asia Pacific Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 9 Asia Pacific Packaging Market by Country, 2019 - 2022, USD Million
TABLE 10 Asia Pacific Packaging Market by Country, 2023 - 2030, USD Million
TABLE 11 Asia Pacific Packaging Market by Country, 2019 - 2022, Tonnes
TABLE 12 Asia Pacific Packaging Market by Country, 2023 - 2030, Tonnes
TABLE 13 Asia Pacific Agriculture Market by Country, 2019 - 2022, USD Million
TABLE 14 Asia Pacific Agriculture Market by Country, 2023 - 2030, USD Million
TABLE 15 Asia Pacific Agriculture Market by Country, 2019 - 2022, Tonnes
TABLE 16 Asia Pacific Agriculture Market by Country, 2023 - 2030, Tonnes
TABLE 17 Asia Pacific Electronics Market by Country, 2019 - 2022, USD Million
TABLE 18 Asia Pacific Electronics Market by Country, 2023 - 2030, USD Million
TABLE 19 Asia Pacific Electronics Market by Country, 2019 - 2022, Tonnes
TABLE 20 Asia Pacific Electronics Market by Country, 2023 - 2030, Tonnes
TABLE 21 Asia Pacific Textile Market by Country, 2019 - 2022, USD Million
TABLE 22 Asia Pacific Textile Market by Country, 2023 - 2030, USD Million
TABLE 23 Asia Pacific Textile Market by Country, 2019 - 2022, Tonnes
TABLE 24 Asia Pacific Textile Market by Country, 2023 - 2030, Tonnes
TABLE 25 Asia Pacific Automotive & Transport Market by Country, 2019 - 2022, USD Million
TABLE 26 Asia Pacific Automotive & Transport Market by Country, 2023 - 2030, USD Million
TABLE 27 Asia Pacific Automotive & Transport Market by Country, 2019 - 2022, Tonnes
TABLE 28 Asia Pacific Automotive & Transport Market by Country, 2023 - 2030, Tonnes
TABLE 29 Asia Pacific Others Market by Country, 2019 - 2022, USD Million
TABLE 30 Asia Pacific Others Market by Country, 2023 - 2030, USD Million
TABLE 31 Asia Pacific Others Market by Country, 2019 - 2022, Tonnes
TABLE 32 Asia Pacific Others Market by Country, 2023 - 2030, Tonnes
TABLE 33 Asia Pacific Polylactic Acid Market by Country, 2019 - 2022, USD Million
TABLE 34 Asia Pacific Polylactic Acid Market by Country, 2023 - 2030, USD Million
TABLE 35 Asia Pacific Polylactic Acid Market by Country, 2019 - 2022, Tonnes
TABLE 36 Asia Pacific Polylactic Acid Market by Country, 2023 - 2030, Tonnes
TABLE 37 China Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 38 China Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 39 China Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 40 China Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 41 China Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 42 China Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 43 China Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 44 China Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 45 Japan Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 46 Japan Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 47 Japan Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 48 Japan Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 49 Japan Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 50 Japan Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 51 Japan Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 52 Japan Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 53 India Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 54 India Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 55 India Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 56 India Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 57 India Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 58 India Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 59 India Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 60 India Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 61 South Korea Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 62 South Korea Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 63 South Korea Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 64 South Korea Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 65 South Korea Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 66 South Korea Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 67 South Korea Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 68 South Korea Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 69 Singapore Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 70 Singapore Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 71 Singapore Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 72 Singapore Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 73 Singapore Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 74 Singapore Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 75 Singapore Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 76 Singapore Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 77 Malaysia Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 78 Malaysia Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 79 Malaysia Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 80 Malaysia Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 81 Malaysia Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 82 Malaysia Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 83 Malaysia Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 84 Malaysia Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 85 Rest of Asia Pacific Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 86 Rest of Asia Pacific Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 87 Rest of Asia Pacific Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 88 Rest of Asia Pacific Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 89 Rest of Asia Pacific Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 90 Rest of Asia Pacific Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 91 Rest of Asia Pacific Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 92 Rest of Asia Pacific Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 93 Key Information – NatureWorks LLC
TABLE 94 Key Information – Futerro SA
TABLE 95 Key Information – Shanghai Tong-jie-liang Biomaterials CO., LTD.
TABLE 96 Key Information – Zhejiang Hisun Biomaterials Co., Ltd.
TABLE 97 Key Information – Danimer Scientific, Inc.
TABLE 98 Key Information – Toray Industries, Inc.
TABLE 99 Key Information – COFCO Corporation
TABLE 100 Key Information – BASF SE
TABLE 101 Key Information – Evonik Industries AG
TABLE 102 Key Information – MITSUBISHI CHEMICAL HOLDINGS CORPORATION
List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific Polylactic Acid Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Polylactic Acid Market
FIG 4 Porter’s Five Forces Analysis – Polylactic Acid Market
FIG 5 Asia Pacific Polylactic Acid Market Share by End-use, 2022
FIG 6 Asia Pacific Polylactic Acid Market Share by End-use, 2030
FIG 7 Asia Pacific Polylactic Acid Market by End-use, 2019 - 2030, USD Million
FIG 8 Asia Pacific Polylactic Acid Market Share by Country, 2022
FIG 9 Asia Pacific Polylactic Acid Market Share by Country, 2030
FIG 10 Asia Pacific Polylactic Acid Market by Country, 2019 - 2030, USD Million
FIG 11 Recent strategies and developments: NatureWorks LLC
FIG 12 SWOT Analysis: NatureWorks LLC
FIG 13 SWOT Analysis: Futerro SA
FIG 14 SWOT Analysis: Shanghai Tong-jie-liang Biomaterials Co., LTD.
FIG 15 SWOT Analysis: Toray Industries, Inc.
FIG 16 SWOT Analysis: COFCO Corporation
FIG 17 SWOT Analysis: BASF SE
FIG 18 SWOT Analysis: Evonik Industries AG
FIG 19 SWOT Analysis: Mitsubishi Chemical Holdings Corporation