Extruded PLA Fiber Market Overview
Extruded
PLA (Polylactic Acid) Fiber Market size is forecast to reach US$3.0 billion by
2026, after growing at a CAGR of 20% during 2021-2026 due to increasing
consumption from packaging, medical & healthcare, and other application as extruded
polylactic acid fiber consists of biodegradability and are eco-friendly. Thus, rapidly
growing concerns related to environmental and health safety are estimated to
grow the demand for extruded polylactic acid fiber. Polylactic acid is a thermoplastic
polyester and an excellent alternative to textile fiber which is derived from
renewable sources such as corn and sugar. These packaging materials break down
into nontoxic particles during degradation which helps to reduce the
amount of plastic waste. Hence, due to its versatility, it is used in the packaging
sector, health care and medical industry, and textile which is estimated to
grow the demand for extruded polylactic acid fibers.
Due
to COVID-19, extruded PLA fiber market has been negatively affected. These
fibers are used as packaging materials from various end-use industries such as
food packaging, medical sector, automotive, and others. But during this pandemic,
the demand and supply of these packaging materials were decreased due to the shutdown
of all manufacturing plants in 2020 which created a hindrance for the
consumption of extruded PLA fibers.
Report Coverage
The
report: “Extruded PLA Fiber Market–
Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the
following segments of the Extruded PLA Fiber Market.
By
Material: Sugarbeet, Cornstarch,
Maize, Sugarcane, Tapioca Roots, and Others
By
Application: Packaging,
Agriculture, Medical & Healthcare, Textiles, Transportation, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)
Key Takeaways
- Asia-Pacific dominates the extruded PLA fiber market owing to increasing demand from various applications such as packaging, healthcare and medical, automotive, and textile industries.
- According to Food and Drug Administration (FDA), polylactic acid fiber is a thermoplastic polyester that is used as packaging materials for short shelf life food products such as fruit and vegetables.
- Additionally, increasing demand for extruded PLA fiber from pharmaceutical applications such as drug delivery and fiber applications is estimated to grow the market scenario.
Figure: APAC Extruded PLA Fiber Market, 2021-2026 (US$ Billion)
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Extruded PLA Fiber Market Segment
Analysis – By Material
Corn
held a significant share in the global extruded polylactic acid fiber market in
2020. Corn is a natural and renewable source that is used to produce polylactic
acid. Advance fermentation of corn helps to reduce the production cost of
lactic acid. Therefore, the production of polylactic is rapidly growing. China
is a major producer of PLA after America. In 2020, Chinese company “Anhui
Fengyuan” announced a production plan for PLA that is expected to reach 35
million tonnes by 2030. Hence, corn demand is expected to grow for the
production of extruded polylactic acid fibers.
Extruded PLA Fiber Market Segment Analysis – By Application
Packaging
segment dominated the extruded polylactic acid (PLA) fibers market in 2020 and
is growing at a CAGR of 20.2% during 2021-2026 as it offers various properties
such as degradability, biocompatibility, and excellent recyclability. Extruded
PLA fibers are used in the packing of cups, overwrap, blister packages, and food
containers. Extruded polylactic acid is also used as renewable and
biodegradable packaging materials for dairy products. PLA is a recyclable and
eco-friendly product that is used in antimicrobial food packaging materials. It
is a thermoplastic
fiber that is used in the packaging of medical implants, textile fibers, and
plastic bags. Therefore, the demand for extruded PLA fiber is
increasing in the packaging industry as it is made from natural sources such as
corn scratches or sugar beets. Hence, increasing demand from the packaging
industry is estimated to boost the demand for extruded PLA fibers.
Extruded PLA Fiber Market Segment Analysis – By Geography
Asia Pacific is anticipated to dominate the global
market of extruded PLA fiber market in 2020 with a share of 30% due to
increasing consumption of extruded PLA fiber in developing countries such as
India and China from the packaging industry. According to the India Brand
Equity Foundation (IBEF), the packaging industry is expected to
reach US$ 204.81 billion by 2025 from US$ 50.5 billion in 2019. The e-commerce
segment of the packaging market is forecast to reach US$ 975.4 million by 2025.
Furthermore, according to
Healthcare Information Company IQVIA, China was the world’s second-largest
national pharmaceutical market in 2017 $122.6 billion. It was also the biggest
emerging market for pharmaceuticals with growth tipped to reach $145 billion to
$175 billion by 2022. Additionally, India’s domestic pharmaceutical market is
estimated at US$ 41 billion in 2021 and is expected to reach US$ 65 billion by
2024 and around US$ 120-130 billion by 2030. Thus
increasing the consumption of extruded PLA fiber is expected to propel the
market size.
Extruded PLA Fiber Market Drivers
- Growing Demand from the Packaging Industry
Extruded polylactic acid is a thermoplastic polyester packaging material, which has a wide range of applications such as in agricultural films, biomedical devices, food products packaging, and the automotive industry as it offers high mechanical strength, high modulus absorbability, transparency, energy savings, low toxicity features. Moreover, polylactic acid is an excellent material in antimicrobial packaging. Food and Drug Administration (FDA) accepted polylactic acid as generally recognized as safe (GRAS) because it is non-toxic and biodegradable fiber. Therefore, the growing packaging industry is estimated to grow the market demand. According to Cosmetic Europe, a personal care association, the cosmetics market of the United States increased by 8.81 % to euro 73.7 billion (US$ 82.50 billion) in 2019 compared to euro 67.2 billion (US$ 79.36) in 2018. Additionally, according to the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market is estimated to reach US$ 65 billion by 2024 and ~US$ 120-130 billion by 2030, which is estimated to boost the demand for extruded polylactic acid fiber.
Growing Environmental Awareness
Polylactic acid (PLA) fibers are eco-friendly products that have unique properties such as biodegradability, biocompatibility, and excellent mechanical properties. PLA is a renewable plant-based thermoplastic fiber processed from corn scratch or sugar beet that is environment friendly and sustainable. Polylactic acid fiber is a fully biodegradable packaging material and biocompatible thermoplastic polyester. It is eco-friendly for consumer apparel applications such as outdoor furniture, automotive interior fabrics, shoe linings, and disposable products (diapers and wipes). Hence increasing environmental awareness in various countries around the world is driving the demand for polylactic thermoplastic polyester which is estimated to boost the extruded PLA market size.
Extruded PLA Fiber Market Challenges
- Growing
Demand for Alternative Products
Polylactic fiber (PLA) is used in 3D printing
and fused deposition modeling technologies but its glass transition
temperature is low compared to other fibers. PLA is stiffer than acrylonitrile
butadiene styrene (ABS) and has poor heat-resistance properties. ABS thermoplastic
fiber is also used in container packaging and 3D printing due to its various
properties such as excellent strength, ductility, machinability, and thermal
stability. Apart from this, nylon fiber is a flexible, durable plastic with
less stiffness than PLA. This alternative may hamper the extruded PLA fiber market
growth in the near future.
Extruded PLA Fiber Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the extruded PLA fiber market. Major players in the Extruded PLA Fiber Market include:
- BASF
- Braskem
- Eastman Chemical
- NatureWorks
- Nova Chemicals
- Sinopec
- Bayer
- Cargill
- Danimer Scientific
- DuPont
- ExxonMobil, and among others.
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