Growth of Bio-polylactic Acid (PLA) Films Market | Top Vendors- NatureWorks, Futerro, Tale & Lyle, Total Corbion PLA, Hiusan Biosciences and More

Global Bio-PLA Films Market was valued at $354 million in 2016, and is anticipated to reach $910 million by 2023, growing at a CAGR of 14.5% from 2017 to 2023.

The key players profiled in the report are NatureWorks LLC, Futerro, Tale & Lyle, Total Corbion PLA, Hiusan Biosciences, Toray Industries, Inc., Taghleef Industries, Amcor Ltd. Toyobo, and Avery Dennison Corporation.

The other major players (not profiled in report) in the market include Jiangsu Jiulding, Teijin, Synbra Technology B.V., Zhejiang Hisun Group Co., Ltd., Innovia Films, Biobag International, Mondi Group, and Plastic Union.

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The use of bio-based materials as food packaging materials is on a continuous rise, owing to their advantages over fossil-based plastics, such as use of renewable resources in their production and, in many cases, the biodegradability and/or compostability of the finished product, which offers an alternative to disposal in landfills. The most common bio-based plastic synthesized from bio-based monomer is polylactic acid.

PLA is an aliphatic polyester produced by the polymerization of lactic acid (2-hydroxypropionic acid). Lactic acid can be produced synthetically from hydrogen cyanide and acetaldehyde, or naturally by anaerobic fermentation by bacteria or certain fungi of carbon substrates, either pure (e.g., glucose and sucrose) or impure (e.g., starch). Bio-PLA films can hold creases or twists, a property normally lacking in plastic films.

The physical properties of PLA make it an ideal candidate for replacement of fossil-based plastics in several application areas of low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), and polyethylene terephthalate (PET).

Positive growth indicators in the food & beverage industry and increase in demand for food packaging for prolonged preservation drive the bio-PLA films market. Moreover, rapid adoption of these films as a synthetic plastic in agricultural applications, such as cultivation of soft fruits and vegetables, has reduced harsh environmental impacts, leading to market growth.

However, high product cost in comparison with synthetic and semi-synthetic films restrains the growth. In addition, relatively low vapor barrier and mechanical properties of the product may hamper industry growth in the future. The report emphasizes on the different type of technologies used in the market, which include sol-gel, atomic layer deposition (ALD), and multilayer.

Based on end user, the market is classified into food & beverages, home & personal care, pharmaceuticals, agriculture, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In addition, the report highlights various factors that impact the market growth, such as key drivers, restraints, growth opportunities, and the role of key players. It presents the quantitative data, in terms of both value and volume, which are obtained from secondary sources, such as company publications, Factiva, Hoovers, OneSource, and others.

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Technological advancements, such as multilayer films and atomic layer deposition (ALD), have led to the introduction of novel bio-PLA films with key characteristics. The aforementioned trend, increase in consumer awareness towards bio-based product usage, and government initiative supporting usage of these products are expected to present numerous opportunities for market expansion.

Top Investment Pockets

Pharmaceuticals and food & beverages segments are lucrative sectors for investment in the market, followed by the agriculture segment. In pharmaceuticals, the nontoxic and non-carcinogenic effects of polylactic acid on the human body make it an acceptable candidate for biopharmaceuticals application such as in sutures, clips, and drug delivery systems (DDS). In food & beverages, it is used in packaging systems such as form-fill-seal yogurt containers or coffee capsules that desire performance attributes such as compostability.

Key Benefits:

• This report provides an extensive analysis of the current and emerging market trends & dynamics of the global bio-PLA films market.
• Trend analysis for all the regions is done by constructing estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
• The report assists to understand the strategies adopted by the leading companies in the industry.
• It evaluates competitive landscape of the bio-PLA films industry to understand the global market scenario.
• Extensive analysis is conducted by key player positioning and monitoring the top competitors in the global market.

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