Polylactic Acid market projected to reach $5.2 billion by 2032, driven by sustainable packaging demand.

From GlobeNewswire: 2025-01-08 08:00:00

The Polylactic Acid Market is expected to grow from USD 1.2 Billion in 2023 to USD 5.2 Billion by 2032, with a CAGR of 17.7%. PLA, a biodegradable alternative to petroleum-based plastics, is widely used in packaging, agriculture, textiles, and consumer goods due to its plant-based origin. New trends in production technologies are increasing efficiency and lowering costs. North America dominates the market, while Asia-Pacific shows rapid growth potential.

Key players in the Polylactic Acid Market include NatureWorks, Cargill, TotalEnergies Corbion, BASF, and Novamont. The market report covers market size, segments analysis, competitive landscape, regional analysis, and key drivers. The market is driven by increased environmental awareness and government regulations promoting the use of biodegradable materials like PLA in industries such as packaging and agriculture.

Recent developments in the Polylactic Acid Market include NatureWorks announcing a new PLA manufacturing facility in Thailand, and TotalEnergies Corbion collaborating to develop PLA recycling infrastructure in South Korea. These initiatives aim to meet rising global demand for PLA and support recycling technologies in line with environmental goals. The market is characterized by rapid growth potential in Asia-Pacific and a shift towards sustainable packaging solutions globally. The Polylactic Acid (PLA) market is segmented by grade, application, and end-use, with detailed regional analysis and company profiles. SNS Insider offers expert analyst consultations for deeper insights and customization options. The leading market research agency aims to provide clients with current, accurate data and consumer insights to make confident decisions in a changing market. Contact [email protected] for more information.



Read more at GlobeNewswire: Polylactic Acid Market to USD 5.2 Billion by 2032 Owing to