Global Bio-polylactic Acid (PLA) Films Market: Overview
Bio-polylactic acid (PLA) is a common bio-based plastic synthesized from bio-based monomers. PLA is an aliphatic polyester produced by the polymerization of lactic acid. Bio-PLA films can hold creases or twists, unlike plastic films. Physical properties of PLA make it an ideal substitute for fossil-based plastics in several applications of low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), and polyethylene terephthalate (PET).
The use of bio-based materials as food packaging materials is growing rapidly, owing to their advantages over fossil-fuel-based plastics, such as biodegradability of the finished product.
Key Drivers of Global Bio-polylactic Acid (PLA) Films Market
Growth of the global food & beverages industry and increase in the demand for food packaging for prolonged preservation drive the global bio-PLA films market. Rapid adoption of bio-PLA films in agricultural applications, such as cultivation of soft fruits and vegetables, has reduced adverse effects on the environment. Growing production of genetically modified corn and rising usage of bio-PLA films in 3D printing are likely to create lucrative opportunities for the global bio-PLA films market during the forecast period.
High Costs of Bio-polylactic Acid (PLA) Films to Hamper Global Market
Higher costs of bio-PLA films than synthetic and semi-synthetic films are expected to restrain the global bio-PLA films market during the forecast period.
Key Segment of Global Bio-polylactic Acid (PLA) Films Market
The pharmaceutical segment is expected to hold a major share of the global Bio-polylactic acid (PLA) Films market during the forecast period. Non-toxic and non-carcinogenic effects of polylactic acid on the human body make it ideal for use in biopharmaceutical applications such as sutures, clips, and drug delivery systems (DDS). Food & beverages and agriculture segments are anticipated to provide lucrative opportunities to the global bio-PLA films market during the forecast period. In the food & beverages sector, bio-PLA is used in packaging systems such as form-fill-seal yogurt containers or coffee capsules.
Europe to Hold a Major Share of Global Bio-polylactic Acid (PLA) Films Market
Europe is expected to dominate the global Bio-polylactic acid (PLA) Films market, in terms of both value and volume, during the forecast period. The market in Asia Pacific is expected to expand at a rapid pace, owing to increase in the demand for bio-PLA for use in food packaging and medical applications. Increasing consumer awareness about and government support for use of eco-friendly products in countries such as China, India, Japan, and Thailand are projected to boost the global bio-PLA films market from 2019 to 2027.
Rapid growth in the consumption of bio-PLA films in China can be attributed to advancements in packaging and medical sectors. The packaging industry in the country is growing rapidly, due to rising demand for FMCG goods. Increase in the demand for eco-friendly packaging has benefitted the packaging sector in China. High demand for ready-to-cook products from the food & beverages industry is fueling the demand for high-quality packaging in the country, thereby driving the Bio-polylactic acid (PLA) films market in China.
Presence of leading manufacturing companies in North America, including Nature Works LLC and Total Corbion PLA, is anticipated to have a positive impact on the bio-PLA market in the region during the forecast period.
Rise in the consumption of biodegradable polymers is likely to create opportunities for the bio-PLA films market in North America during the forecast period.
Post time: Jul-25-2022