China Polylactic Acid (PLA) Market Size, Share & Trends Analysis Report, By Raw Material (Corn-based PLA, Sugar-based PLA, Cassava-based PLA, and Others), By Application (Packaging, Construction Material, Catering and Tableware, Agricultural Material, Consumer Goods, Electronic Material, Automobile, and Others) and Forecast, 2019-2025.
China Polylactic Acid (PLA) Market is expected to grow at a CAGR of around 18.0% during the forecast period. Growing chemical and petroleum industry is primarily strengthening market growth in the country. According to the China Petroleum and Chemical Industry Federation (CPCIF), China’s petroleum and chemical industry generated a revenue of $2 trillion in 2017. The consistent growth of the Chinese chemical industry is key for the stability of the Chinese economy in the future years. Moreover, China is rapidly expanding its chemical parks; this significantly increases the investment in the chemical industry in China, thereby creating opportunities for the growth of the market in the future.
The penetration of plastic products in the Chinese market is expected to increase as these products possess beneficial properties which make them useful in several applications. Furthermore, as the recyclable and eco-friendly plastic materials are being introduced in the market, the demand for plastics to be consumed in applications such as automotive industry, and packaging industry is expected to increase significantly in the future years. This will likely accelerate the demand for PLA thermoplastic in the region.
The companies operating in the market include BASF SE, NatureWorks LLC, and DuPont de Nemours, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in October 2018, ThyssenKrupp AG expanded geographically by commissioning its first commercial bioplastics plant in China. It uses PLAneo technology from ThyssenKrupp that lowers the emission of CO2 and reduces the use of fossil raw materials. The new plant produces all standard PLA types, among other things for the production of eco-friendly packaging, fibers, textiles, and engineering plastics. With the opening of this facility, the company has expanded its footprints geographically.
Research Methodology:
The market study of the China PLA market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The research team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
The Report Covers:
China Polylactic Acid (PLA) Market is expected to grow at a CAGR of around 18.0% during the forecast period. Growing chemical and petroleum industry is primarily strengthening market growth in the country. According to the China Petroleum and Chemical Industry Federation (CPCIF), China’s petroleum and chemical industry generated a revenue of $2 trillion in 2017. The consistent growth of the Chinese chemical industry is key for the stability of the Chinese economy in the future years. Moreover, China is rapidly expanding its chemical parks; this significantly increases the investment in the chemical industry in China, thereby creating opportunities for the growth of the market in the future.
The penetration of plastic products in the Chinese market is expected to increase as these products possess beneficial properties which make them useful in several applications. Furthermore, as the recyclable and eco-friendly plastic materials are being introduced in the market, the demand for plastics to be consumed in applications such as automotive industry, and packaging industry is expected to increase significantly in the future years. This will likely accelerate the demand for PLA thermoplastic in the region.
The companies operating in the market include BASF SE, NatureWorks LLC, and DuPont de Nemours, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in October 2018, ThyssenKrupp AG expanded geographically by commissioning its first commercial bioplastics plant in China. It uses PLAneo technology from ThyssenKrupp that lowers the emission of CO2 and reduces the use of fossil raw materials. The new plant produces all standard PLA types, among other things for the production of eco-friendly packaging, fibers, textiles, and engineering plastics. With the opening of this facility, the company has expanded its footprints geographically.
Research Methodology:
The market study of the China PLA market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The research team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
- Financial reports of companies involved in the market
- Whitepapers, research-papers, and news blogs
- Company websites and their product catalog
The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
- China PLA Market Research and Analysis, By Raw Material
- China PLA Market Research and Analysis, By Application
The Report Covers:
- Comprehensive Research Methodology of the China PLA market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the China PLA market.
- Insights about market determinants which are stimulating the China PLA market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
Companies Mentioned
A selection of companies mentioned in this report includes:
- BASF SE
- Corbion N.V.
- DuPont de Nemours, Inc.
- LG Chem Ltd.
- Mitsubishi Gas Chemical Co., Inc.
- NatureWorks LLC
- RTP Co.
- Sulzer Ltd.
- ThyssenKrupp AG
- Toray Industries, Inc.
- Toyo Engineering Corp.
