Asia-Pacific Polylactic Acid (PLA) Market is expected to grow at a CAGR of around 18.8% during the forecast period. There are numerous factors which are driving the growth of the PLA market in the region. This includes significant automobile production in the region and growing food processing packaging industry. The plastic market is rapidly expanding in the Asia-Pacific. The market is witnessing a dynamic growth specifically in the ASEAN countries including Thailand, Indonesia, Vietnam and the Philippines. Moreover, as a result of urbanization, growing demand for energy, climate change and technological advancements, plastic manufacturers are focusing on adopting the latest technology in order to manufacture advanced materials such as PLA.
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Furthermore, the chemical industry in Asia-Pacific region is also witnessing a prominent growth owing to the presence of major chemical manufacturers, including BASF SE and DuPont de Nemours, Inc. in the region. The demand for advanced chemicals and polymers such as PLA is expected to increase significantly in the future years for application in automobile applications, which in turn, will likely drive the growth of the market in the region.
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Asia-Pacific Polylactic Acid (PLA) Market Segmentation
By Raw Material
- Corn-based PLA
- Sugar-based PLA
- Cassava-based PLA
- Others
By Application
- Packaging
- Construction Material
- Catering and Tableware
- Agricultural Material
- Consumer Goods
- Electronic Material
- Automobile
- Others
Regional Analysis
- China
- India
- Japan
Rest of Asia-Pacific
Company Profiles
- BASF SE
- Corbion N.V.
- DuPont de Nemours, Inc.
- LG Chem Ltd.
- Mitsubishi Gas Chemical Co., Inc.
- NatureWorks LLC
- RTP Co.
- Sulzer Ltd.
- ThyssenKrupp AG
- Toray Industries, Inc.
- Toyo Engineering Corp.
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