GITNUX MARKETDATA REPORT 2024

Polylactic Acid Industry Statistics

Polylactic Acid industry statistics indicate a steady growth in market size due to increasing demand for eco-friendly and biodegradable materials.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore key statistics and insights surrounding the global Polylactic Acid (PLA) industry. From market valuations and growth projections to sector trends and environmental impacts, these statistics shed light on the current landscape and future prospects of PLA as a sustainable alternative to traditional plastics. Let’s dive into the data to understand the evolving dynamics of the PLA market.

Statistic 1

"The global Polylactic Acid (PLA) market was valued at USD 1,036.8 Million in 2020,"

Statistic 2

"The compound annual growth rate (CAGR) of the Polylactic Acid market from 2021-2028 is projected to be 12.3%,"

Statistic 3

"The packaging sector accounted for the largest share in the PLA market in 2019,"

Statistic 4

"By 2028, the agricultural sector is expected to lead the Polylactic Acid market,"

Statistic 5

"In 2020, Asia-Pacific led the PLA market with the highest market share,"

Statistic 6

"Europe is predicted to show the fastest growth in the PLA market due to rigorous environmental regulations,"

Statistic 7

"China's Polylactic Acid (PLA) consumption is expected to reach 300,000 tons by 2023,"

Statistic 8

"The global supply of PLA was around 200,000 tons in 2019,"

Statistic 9

"NatureWorks held the largest market share in 2020 with approximately 35%-40% of global PLA capacity,"

Statistic 10

"The consumption of PLA in Europe was estimated at 72,725 tons in 2019,"

Statistic 11

"The FDA approved PLA for food-contact applications in 1992,"

Statistic 12

"Polylactic Acid consumes 25%-55% less fossil fuel resources than traditional plastics,"

Statistic 13

"PLA is predicted to replace 10%-20% of petroleum-based plastics in the next 5-10 years,"

Statistic 14

"PLA production leads to 60% less greenhouse gases compared to conventional plastic production,"

Statistic 15

"The global PLA capacity is forecast to reach 800,000 tons by 2025,"

Statistic 16

"India’s demand for PLA was around 4500 metric tons in 2019,"

Statistic 17

"The top three companies in the PLA market contributed over 50% of the total revenue in 2019,"

In conclusion, the Polylactic Acid (PLA) industry is experiencing significant growth and transformation, with key trends indicating a shift towards sustainable and environmentally-friendly practices. The market value has been on the rise, propelled by increasing demand in sectors such as packaging and agriculture. Asia-Pacific currently leads the market, but Europe is forecasted to exhibit rapid growth due to stringent environmental regulations. With the approval for food-contact applications and the potential to replace petroleum-based plastics, PLA is poised to make a substantial impact on the global plastics industry. Companies like NatureWorks are already playing a major role in the market, with projections suggesting a surge in global PLA capacity by 2025. Overall, the statistics point towards a promising future for Polylactic Acid as a sustainable alternative to conventional plastics.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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