Europe Polylactic Acid (PLA) Market Report and Forecast 2023-2028

Europe Polylactic Acid (PLA) Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the Europe polylactic acid (PLA) market reached a value of USD 512.26 million in 2022. Aided by the increasing demand for sustainable and biodegradable materials, the market is projected to grow at a CAGR of 12.2% between 2023 and 2028 to reach a value of USD 1035.78 million by 2028.

Polylactic acid (PLA) is a biodegradable and bioactive thermoplastic aliphatic polyester derived from renewable biomass, typically from fermented plant starch such as corn, sugarcane, or cassava. It is a sustainable alternative to petroleum-based plastics due to its lower carbon footprint and biodegradability. PLA is used in various applications, including packaging, textiles, agriculture, automotive, and biomedical sectors.

The Europe polylactic acid (PLA) market growth can be attributed to the increasing demand for sustainable and biodegradable materials in various industries. The need for eco-friendly substitutes has increased as a result of growing awareness of the negative effects that traditional plastics have on the environment. This led to the development and use of PLA in a variety of applications, including biodegradable films, disposable cutlery, and food packaging.

One of the key Europe polylactic acid (PLA) market trends is the increasing focus on research and development of advanced PLA materials with enhanced properties. Innovations in PLA production technologies and the development of high-performance PLA materials have expanded the potential applications of PLA in various industries, such as automotive and electronics.

The packaging sector is expected to be one of the largest application segments of the Europe PLA market, owing to the growing demand for sustainable packaging solutions. The food and beverage industry, in particular, is increasingly adopting PLA-based packaging materials due to their biodegradability and lower environmental impact compared to conventional plastics. Additionally, the increasing popularity of online shopping and e-commerce platforms has further fuelled the demand for Europe polylactic acid (PLA) market.

The textile industry is also expected to witness significant growth in the demand for PLA, driven by the increasing demand for sustainable and eco-friendly textiles. PLA-based fibres are used in the production of various textile products, such as apparel, home furnishings, and industrial fabrics. The growing consumer awareness of the environmental impact of textile production and the increasing demand for sustainable fashion are expected to drive the growth of the Europe polylactic acid (PLA) market in the textile sector.

Market Segmentation

The market can be divided based on type, application, and country.

Market Breakup by Type

• PLLA (Poly-L-lactic Acid)
• PDLA (Poly-D-lactic Acid)
• PDLLA (Poly-DL-lactic Acid)

Market Breakup by Application

• Packaging
• Agriculture
• Textile
• Biomedical
• Electronics
• Others

Market Breakup by Country

• Germany
• United Kingdom
• France
• Italy
• Spain
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Europe polylactic acid (PLA) market companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• NatureWorks LLC
• Total Corbion PLA
• Futerro S.A.
• BIOTEC GmbH & Co.KG
• Evonik Industries AG
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.