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.
The companies operating in the market include BASF SE, ThyssenKrupp AG, NatureWorks LLC, and DuPont de Nemours, Inc. To survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, In October 2018, ThyssenKrupp AG expanded geographically by commissioning its first commercial bioplastics plant in China. It uses PLAneo technology from ThyssenKrupp that lowers the emission of CO2 and reduces the use of fossil raw materials. The new plant produces all standard PLA types, among other things for the production of eco-friendly packaging, fibers, textiles, and engineering plastics. With the opening of this facility, the company has expanded its footprints geographically.
Research Methodology
The market study of the Asia-Pacific PLA market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
The Report covers:
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Country
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Asia-Pacific PLA Market by Raw Material
5.1.1. Corn-based PLA
5.1.2. Sugar-based PLA
5.1.3. Cassava-based PLA
5.1.4. Others
5.2. Asia-Pacific PLA Market by Application
5.2.1. Packaging
5.2.2. Construction Material
5.2.3. Catering and Tableware
5.2.4. Agricultural Material
5.2.5. Consumer Goods
5.2.6. Electronic Material
5.2.7. Automobile
5.2.8. Others
6. Regional Analysis
6.1. China
6.2. India
6.3. Japan
6.4. Rest of Asia-Pacific
7. Company Profiles
7.1. BASF SE
7.2. Corbion N.V.
7.3. DuPont de Nemours, Inc.
7.4. LG Chem Ltd.
7.5. Mitsubishi Gas Chemical Co., Inc.
7.6. NatureWorks LLC
7.7. RTP Co.
7.8. Sulzer Ltd.
7.9. ThyssenKrupp AG
7.10. Toray Industries, Inc.
7.11. Toyo Engineering Corp.
1. ASIA PACIFIC PLA MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
2. ASIA-PACIFIC PLA MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL, 2018-2025 ($ MILLION)
3. ASIA-PACIFIC PLA MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2018-2025 ($ MILLION)
1. ASIA-PACIFIC PLA MARKET SHARE BY COUNTRY, 2018 VS 2025 (%)
2. ASIA-PACIFIC PLA MARKET SHARE BY RAW MATERIAL, 2018 VS 2025 (%)
3. ASIA-PACIFIC PLA MARKET SHARE BY APPLICATION, 2018 VS 2025 (%)
4. CHINA PLA MARKET SIZE, 2018-2025 ($ MILLION)
5. INDIA PLA MARKET SIZE, 2018-2025 ($ MILLION)
6. JAPAN PLA MARKET SIZE, 2018-2025 ($ MILLION)
7. REST OF ASIA-PACIFIC PLA MARKET SIZE, 2018-2025 ($ MILLION)