Analysis of the market status and development prospects of the global polylactic acid (PLA) industry in 2020, with broad application prospects and continuous expansion of production capacity
Polylactic acid (PLA) is a new type of bio-based material, which is widely used in clothing manufacturing, construction, medical and health and other fields. In terms of supply, the global polylactic acid production capacity will be close to 400,000 tons in 2020. At present, American Nature Works is the world's largest producer, accounting for 40% of its production capacity;
The production of polylactic acid in my country is still in its infancy. In terms of demand, the global polylactic acid market has reached US$660.8 million in 2019. The global market is expected to maintain a CAGR of 7.5% during 2021-2026.
1. Polylactic acid has broad application prospects
Polylactic acid (PLA) is a novel bio-based material with good biodegradability, biocompatibility, thermal stability, solvent resistance, and ease of processing. Widely used in garment manufacturing, construction, healthcare and tea bag packaging. It is one of the earliest applications of synthetic biology in the field of materials
2. In 2020, the global polylactic acid production capacity will be close to 400,000 tons
At present, polylactic acid, as an environmentally friendly bio-based biodegradable material, has good application prospects, and the global production capacity continues to increase. According to the statistics of the European Bioplastics Association, the global polylactic acid production capacity in 2019 is about 271,300 tons; in 2020, the production capacity will increase to 394,800 tons.
3. "Nature Works" is the largest producer in the world
In terms of production capacity, American Nature Works is currently the world's largest producer of polylactic acid. In 2020, the annual production capacity of polylactic acid is 160,000 tons, accounting for about 41% of the total global production capacity, followed by Total Corbion in the Netherlands. The production capacity is 75,000 tons, and the production capacity accounts for about 19%.
In my country, the production of polylactic acid is still in its infancy. There are not many production lines that have been built and put into production, and most of them are small in scale. The main production enterprises include Jilin COFCO, Hisun Bio, etc., while the production capacity of Jindan Technology, Anhui Fengyuan Group, Guangdong Kingfa Technology and other enterprises are still under construction or planning.
4. 2021-2026: The compound annual growth rate of the market will reach 7.5%
As a new type of degradable and environmentally friendly material, polylactic acid has the characteristics of green environmental protection, safety and non-toxicity, and has broad application prospects. According to ReportLinker statistics, the global polylactic acid market size in 2019 has reached 660.8 million US dollars. Based on its broad application prospects, the market will maintain a compound annual growth rate of 7.5% during 2021-2026, and until 2026, the global polylactic acid (PLA) market size will reach 1.1 billion US dollars.
Zhejiang Tiantai Jierong New Material Co., Ltd. is committed to applying PLA to the tea bag industry, providing users with a new type of non-toxic, odorless and degradable tea bag, bringing a different tea drinking experience.
