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Polylactic Acid Market
Data from ASSO Consulting Company shows Polylactic Acid (PLA) to grow to 500 K MT by 2030Polylactic Acid (PLA) is a bioplastic made from lactic acid and is used in the food industry to package sensitive food products. PLA or Polylactide (also known as Polylactic Acid, Lactic acid polymer) is a versatile commercial biodegradable thermoplastic based on lactic acid. Lactic acid monomers can be produced from 100% renewable resources, like corn and sugarbeets. According to ASSO Consulting Company, Polylactic Acid (PLA) is one of the most important current and future degradable plastics.
Polylactic Acid (PLA)-The Future of Degradable Plastics
Source: ASSO Consulting Company
ASSO Consulting Company said Polylactic Acid (PLA) is one of the most widely used biodegradable plastics, and with Total Corbion's Polylactic Acid (PLA) Thailand production facility operating at full capacity, NatureWorks' market share has received significant challenges. Total Corbion and NatureWorks have plans to expand their production capacity in 2025, 2024 due to the continued growth of Polylactic Acid (PLA). According to a research report by ASSO Consulting Company, analysts at ASSO Consulting Company predict that by 2030, the global demand for Polylactic Acid (PLA) will likely reach 500 kilotons, and the market size of Polylactic Acid (PLA) will exceed US$1,600 million.
Polylactic Acid (PLA) Demand Forecast - by ASSO Consulting Company
Source: ASSO Consulting Company
According to analysts from ASSO International Consulting Co., Ltd., Polylactic Acid (PLA) will undisputedly replace traditional petroleum-based products in many fields. These wide-ranging downstream consumer products including paper cups, disposable tableware, paper straws are all Polylactic The main application scenarios of Acid (PLA). Polylactic Acid (PLA) is one of the most potential degradable plastics. Although the price of Polylactic Acid (PLA) is much more expensive than traditional petroleum-based products, downstream customers such as Starbucks have already chosen degradable products.
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