Global PLA Sales Predicted to Reach $3.7 Billion by 2032, says study

Polylactic acid (PLA) is a bioplastic becoming increasingly popular due to its biodegradability and renewability. PLA can be made from plant starch, such as corn, sugar beets, or sugar cane, and is used in various applications, from medical implants to packaging materials. The new market study "Polylactic Acid (PLA)" by Ceresana predicts that global sales of PLA will reach around USD 3.7 billion by 2032.

The packaging industry is the largest market for PLA, with a share of around 65%. Flexible packaging is expected to grow at 15.2% per year. PLA fibres are also used in the textile industry for yarns or upholstery. Biocompatible implants that dissolve in the human body and skin-compatible hygiene products have been areas of application where PLA has been profitable for years.

PLA sales benefit from the growing popularity of renewable raw materials and government regulations on single-use products and plastic bags. Plastics manufacturers are responding to growing consumer awareness of plastic waste issues with significant expansions in the production capacities for PLA in various countries, such as France, the USA, and Thailand, but especially in China. By 2032, Ceresana expects more than two-thirds of global PLA production to take place in Asia.

Ceresana's market study provides a comprehensive depiction and analysis of the global market for PLA, including forecasts up to 2032. The report covers the development of demand for, revenues generated with, and production of polylactic acid in different regions and application areas. Additionally, the study provides useful company profiles of the top producers of PLA.

As one of the world's leading market research institutes, Ceresana specialises in the chemicals, plastics, packaging, and industrial goods sectors, focusing on the bio-economy and automotive/mobility. Since 2002, companies have benefited from high-quality industry analyses and forecasts, with over 250 market studies providing more than 10,000 clients worldwide with the knowledge base for sustainable success.