Asia Pacific Polylactic Acid (PLA) Market Report and Forecast 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