Top Companies in Polylactic Acid Market | Top Companies Market Size & Share, Historic data, Research Report by Vantage Market Research
The thermoplastic polymer materials that are often on the market are not the same as Polylactic Acid (PLA) products.
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Market Overview:
The Global Polylactic Acid Market is valued at USD 925.1 Million in the year 2021 and is projected to reach a value of USD 1334.7 Million by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.3% over the forecast period. Polylactic Acid (PLA) is a biodegradable hydrolyzable aliphatic semi-crystalline polyester. It is widely used in the production of microwaveable containers, such as food containers and disposable cutlery. It provides various beneficial properties, such as aesthetic appeal, resistance to grease & oil, better printability, and, others. Thus, it is widely used in the packaging industry.
Increasing usage of Polylactic Acid in multiple end-use industries such as transport, packaging, agriculture, and textiles is a key driving factor in the growth of the market. Polylactic Acid produces low carbon emissions as compared to conventional plastics, which is expected to boost the growth of the market during the forecast period. In addition, increasing use of the packaged foods, snacks+, and ready-to-eat meals also increases the packaging product demand, which in turn, propels the growth of the market.
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Some of the key players operating in the Polylactic Acid Market are listed below
|
Company Name |
Revenue in the US |
|
$37 Million |
|
$8 Million |
|
$86 Billion |
|
$71 Billion |
|
<$5 Million |
|
$53 Million |
|
$18 Billion |
|
$16 Billion |
|
$35 Billion |
|
$898 Million |
Nature Works is a world-leading biopolymers supplier and innovator with its Ingeo portfolio of naturally advanced materials made from renewable, abundant feedstocks with performance and economics that compete with oil-based intermediates, plastics, and fibers. These materials also provide brand owners with new cradle-to-cradle options after the use of their products. The company uses plants to transform greenhouse gases into sugars they can ferment. The company's Research and Development (R&D) team is also working on new technology to skip the use of plants entirely. The company's technology converts lactic acid into a portfolio of Ingeo PLA (Polylactic Acid) polymers each tailored to a set of specific performance attributes.
Total Energies Corbion is a global leader in marketing, sales, and production of Polylactic Acid (PLA). PLA is a bio-based and biodegradable polymer made from annually renewable resources, offering a reduced carbon footprint versus many traditional plastics. The Luminy® PLA portfolio, which includes both high heat and standard PLA grades, is an innovative material that is used in a wide range of markets including fresh food packaging, consumer goods, fibers, food service ware, and 3D printing.
BASF SE is a German multinational chemical company and the largest chemical producer in the world. The company comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas, and Africa. Headquarters in Ludwigshafen, Germany, the company has customers in over 190 countries and supplies products to a wide variety of industries. The company carries out the production, marketing, and sales of chemicals, plastics, crop protection products, and performance products. Its product line comprises solvents, adhesives, surfactants, fuel additives, electronic chemicals, pigments, paints, food additives, fungicides, and herbicides.
COFCO International is building a world-class agriculture supply chain company, anchored in China and competing globally. Headquartered in Geneva, Switzerland, the company is ambitious, with the right structures and culture to meet the world’s increasing and changing dynamics. The Company’s global portfolio includes assets across the Americas, Europe, and Asia-Pacific. The company trades with over 50 nations while providing farmers unique direct access to the growing Chinese market. The company supplies agriculture products around the world through the company's globally integrated supply chain, originating from surplus producing regions to supply regions with high demand.
FUTURO S. A. is a well-established Belgian Company and was the first to work on the development of lactic acid and Poly-Lactic Acid (PLA) as early as 1992. The company has been a pioneer and world leader in bioplastics with the development and production of Poly-Lactic Acid (PLA, also called FUTERRO RENEW®). PLA is a well-recognized biopolymer able to replace a large number of traditional petro-based plastic. The company is recognized as one of the most advanced and innovative biotechnologies and chemical companies in the biopolymer sector. For more than 30 years, FUTURO has been developing its technologies and processes covering the entire PLA life cycle and holds more than 250 patents.
Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products. For more than a decade, the company's renewable and sustainable biopolymers have helped create plastic products that are biodegradable and compostable. They return to nature instead of polluting the lands and waters. The company's technology can be found in a vast array of plastic end products that people use every day. Applications for the company's biopolymers include additives, aqueous coatings, fibers, films, hot-melt adhesives, and injection-molded articles, among others. The company also offers its partners research-and-development services, toll manufacturing, and custom formulations, all backed by a world-class group of scientists and business leaders.
Toray Group is an integrated chemical industry group developing its business in 29 countries and regions worldwide. Toray Group fuses nanotechnology into its operations, using organic synthetic chemistry, polymer chemistry, and biotechnology as its core technologies. In addition to the Foundation Businesses of fibers & textiles and plastics & chemicals, Toray likewise promotes the global development of IT-related products, carbon fiber composite materials, pharmaceuticals and medical products, environment & engineering including water treatment, and progress in other pivotal business fields.
Headquartered in Essen, Germany, Evonik is one of the world’s leading specialty chemicals companies. Evonik stands for attractive business and innovative strength. Around 80 percent of sales come from market-leading positions, which the company is systematically expanding. The company work in a results-focused corporate culture that is geared to profitable growth and increasing the value of the company. The company's strengths include the balanced spectrum of our business activities, end-markets, and regions as well as close collaboration with our customers.
Mitsubishi Chemical was formed in October 1994, as a result of a merger between Mitsubishi Kasei Corporation and Mitsubishi Petrochemical Co. Ltd. Subsequently, in October 2005, Mitsubishi Chemical executed a joint share transfer with its subsidiary Mitsubishi Pharma Corporation and at the same time a new company was incorporated to be Mitsubishi Chemical’s 100% parent company, MCHC, and, as a result, Mitsubishi Chemical was delisted. As of the date hereof, Mitsubishi Chemical is one of the six operating companies i.e., Mitsubishi Chemical, Mitsubishi Tanabe Pharma Corporation, Mitsubishi Plastics Inc. “Mitsubishi Plastics”, Mitsubishi Rayon Co. Ltd. “Mitsubishi Rayon”, Life Science Institute, Inc. and Taiyo Nippon Sanso Corporation included among MCHC’s 581 subsidiaries and 168 affiliates, and is a general chemical manufacturing company providing broad range products and services to its global clientele.
Unitika Ltd. offers a line of functional materials that have derived from its unique development efforts, such as activated carbon fibers employed for a vast range of applications from consumer products to systems affecting the global environment and porous plates with high water absorbency. All these products, developed based on the polymer and fiber technologies that the company has amassed over the years, reflect their superb technological prowess and creativity and are used in various areas.
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