The global bio-polylactic acid (PLA) films market was worth US$ 457.23 Million in 2021 and is projected to reach CAGR of 15.8% over the forecast period (2022 – 2030). Packaging of any product determines its success as it is critical for maintaining quality. Newer alternatives for plastic are being sought and this is where bio-polylactic acid (PLA) films arrive in the picture. Polylactic acid (PLA) primarily is an aliphatic polyster that is manufactured through the process of polymerization of the lactic acid. Similarly, the bio-polylactic acid is very common bio-based plastic produced through bio-based monomers. Unlike plastic films, the bio-polylactic acid (PLA) films can easily hold twists or creases. Owing to the capability of possessing physical properties of polylactic acid, bio-polylactic acid (PLA) films can be used instead of fossil-based plastics in various applications of low-density polyethylene (LDPE), polypropylene (PP), high-density polyethylene (HDPE) and polyethylene terephthalate (PET). Many factors contribute to the growth of the bio-polylactic acid (PLA) films market. One such factor is increasing awareness regarding the impact of plastic on health and environment in the consumers. Also the fact that several leading nations are extremely serious regarding surging levels of pollution and are encouraging companies to opt for greener and safer alternatives helps this market grow aggressively.
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The impact of the COVID-19 pandemic was evident on the bio-polylactic acid (PLA) films market. This market saw a dip in the amount of revenue generated as numerous trading activities were put on hold due to unavailability of logistics, and labour.
One of the major factors that drives the growth of the bio-polylactic acid (PLA) films market is stringent regulations rolled out by major countries regarding use of plastic. Bio-polylactic acid (PLA) films are seen as a great alternative. Meanwhile, higher costs associated with this type of films plays a restraining factor for the growth of the bio-polylactic acid (PLA) films market. Bio-polylactic acid (PLA) films cost on the higher side as compared to semi-synthetic and synthetic films. On the other hand, growing need for effective and safer packaging alternatives is the reason why the bio-polylactic acid (PLA) films market is forecasted to witness massive growth over the period of next few years.
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By Application, Medical and Pharmaceutical segment will witness growth at fastest rate for The Bio-Polylactic Acid (PLA) Films Market in 2022
Packaging of any drug plays an important role in ensuring its efficacy. Bio-polylactic acid films are proving extremely useful for the trillion-dollar industry and this is why this segment will have edge over others in the years to come.
Asia Pacific Region to witness fastest growth for this market Over the Forecast Period (2022 – 2030) in the Bio-Polylactic Acid (PLA) Films Market
Countries like China, India and Japan are extremely concerned about growing environmental issues like emission of greenhouse gases, depleting levels of fossil fuels along with constantly changing prices of crude oil. Newer disposable and renewable options like bio-polylactic films are seeing huge demand in wake of this situation from the food & beverage segment, pharma industry and others.
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Some of the major players operating in the global bio-polylactic acid (PLA) films market are listed below:
- Amcor plc
- Corbion
- Futerro
- HUBEI HYF PACKAGING CO., LTD
- NatureWorks LLC
- TORAY INDUSTRIES, INC
- TOYOBO CO. LTD
- Other Market Participants
Global Bio-Polylactic Acid (PLA) Films Market Segmentation
Global Bio-Polylactic Acid (PLA) Films Market has been segmented by application, end user, organization size, technology and region which are further classified into respective countries:
Global Bio-Polylactic Acid (PLA) Films Market Application Type Outlook (Revenue, USD Million, 2015 - 2030)
- 3D Printing
- Medical and Pharmaceutical
- Automotive
- Interior
- Under-the-hood parts
- Others
- Beauty and Household
- Building and Construction
- Foam for insulation
- Fibers
- Carpets & Furnishing
- Others
- Cards, Cartons and Non-Food Packaging
- Coffee Capsules
- Electronics and Appliances
- Injection molded castings
- Housings
- Others
- Food and Beverage Packaging
- Food Serviceware
- Landscape and Agriculture
- Others (sunglasses, toys, etc)
Global Bio-Polylactic Acid (PLA) Films Market End User Type Outlook (Revenue, USD Million, 2015 - 2030)
- Brands
- Retailers
- Others
Global Bio-Polylactic Acid (PLA) Films Market Organization Size Type Outlook (Revenue, USD Million, 2015 - 2030)
- Small and Medium Enterprises
- Large Enterprises
Global Bio-Polylactic Acid (PLA) Films Market Application Type Outlook (Revenue, USD Million, 2015 - 2030)
- Sol-Gel
- Atomic Layer Deposition
- Multilayer
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Global Bio-Polylactic Acid (PLA) Films Market Regional Outlook (Revenue, USD Million, 2015 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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