Increasing Demand for Packaging Applications
Food & beverage industry has been witnessing an increasing demand for bioproducts in the packaging sector over the past few years. According to PMMI, The Association for Packaging and Processing Technologies, the growing consumer preference for healthy foods and beverages, combined with shifting preference for natural and healthy products, is driving the market for eco-friendly products. Therefore, companies, in order to make healthy products, are incorporating bio-plastics, thereby, driving the market for bio-PLA.
Corn is the Largest Raw Material Segment
The PLA market is segmented on the basis of raw material, form, and end-user industry. Based on the raw material, corn has the largest share of approximately 65% as it is being increasingly used as a substitute for the conventional petroleum-based plastics. There are growing government initiatives in countries like China to boost the production of bioplastics in order to utilize its massive corn stock.
Asia-Pacific is the Fastest Growing Region
North America is the current market leader for bio-PLA accounting to share of approximately 35%. However, Asia-Pacific is expected to show the highest CAGR of 22.1% in terms of volume during the forecast period, this is due to the increasing demand from the packaging and healthcare sectors. Also, the growing customer awareness combined with the government support on the usage of eco-friendly products in many countries, such as China, India, etc., is expected to drive the market. In addition, the growing research in Japan in the field of biodegradable plastics is expected to provide several opportunities for the bio-PLA during the forecast period.
Major Players: NatureWorks LLC, Zhejiang Hisun Biomaterials Company Limited, Synterra PLA, Mitsubishi Chemicals, and Sulzer, among others.
Reason to purchase the Report
- To understand the impact of end-user industries on the market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To identify the countries that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
- This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s 5 Force Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Technological Snapshot
3.3.1 PLA Production Process
4. Market Dynamics
4.1.1 Increasing Demand for Packaging Applications
4.1.2 Favorable Government Policies Promoting Bio-plastics
4.1.3 Other Drivers
4.2.1 Price Competitiveness and Availability of Cheaper Alternatives
4.2.2 Difficulty in Disposal of PLA
4.3.1 Growing Production of Genetically Modified Corn
4.3.2 Growing Usage of PLA in 3D Printing
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Raw Material
5.1.3 Sugarcane & Sugar Beet
5.2 By Form
5.2.2 Films & Sheets
5.3 By End-user Industry
6. Regional Market Analysis (Market Size, Growth and Forecast)
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.6 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa (MEA)
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of MEA
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
9.1 BASF SE
9.2 Bayer AG
9.3 Corbian NV
9.4 Danimer Scientific
9.6 Eastman Chemicals
9.8 Henen Jindan Lactic Acid Technology
9.9 Mitsubishi Chemical Holding Corporation
9.11 Sulzer AG
9.12 Synbra Technology B.V.
9.13 Teijin Ltd.
9.14 Wei Mon Industry Co. Ltd.
9.15 weforyou GmbH
*(List not exhaustive)
**Subject to availability on public domain
- BASF SE
- Bayer AG
- Corbian NV
- Danimer Scientific
- Eastman Chemicals
- Henen Jindan Lactic Acid Technology
- Mitsubishi Chemical Holding Corporation
- Sulzer AG
- Synbra Technology B.V.
- Teijin Ltd.
- Wei Mon Industry Co. Ltd.
- weforyou GmbH