Extruded PLA Fiber Market Size (2024 - 2029)

The extruded PLA fiber market is anticipated to experience significant growth, driven primarily by increasing demand from the packaging industry. Despite the challenge posed by the higher costs of PLA fibers compared to traditional options, the packaging sector is expected to maintain its dominance in terms of market size. The Asia-Pacific region currently holds the largest market share and is projected to continue its leading position throughout the forecast period.

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Market Size of Extruded PLA Fiber Industry

Extruded PLA Fiber Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 15.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Extruded PLA Fiber Market Major Players

*Disclaimer: Major Players sorted in no particular order

Extruded PLA Fiber Market Analysis

The global extruded PLA fiber market is expected to grow with a CAGR greater than 15% during the forecast period. One of the major factors driving the market is the growing demand from the Packaging Industry. However, the high prices in comparison to conventional Fibers are hindering the growth of the market studied.

  • Among the end-user industries, the packaging is likely to dominate the market studied during the forecast period.
  • Asia-Pacific accounts for the highest share of the market currently and is likely to continue dominating the market during the forecast period.

Extruded PLA Fiber Industry Segmentation

The global extruded PLA fiber market report includes:

End-user Industry
Packaging
Transportation
Biomedical
Textiles
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Extruded PLA Fiber Market Size Summary

The global extruded PLA fiber market is poised for significant growth, driven primarily by the burgeoning demand from the packaging industry. This sector is expected to maintain its dominance throughout the forecast period, fueled by the increasing need for recyclable and eco-friendly packaging solutions. The use of natural starch sources like tapioca, sugarcane, and cornstarch in the production of extruded PLA fiber aligns with the rising consumer preference for sustainable products. The expansion of e-commerce and the rise in disposable incomes globally further bolster the demand for packaging materials, thereby propelling the market forward. Despite these positive trends, the market faces challenges due to the higher costs of extruded PLA fiber compared to conventional fibers, which could impede its growth.

Regionally, Asia-Pacific holds the largest share of the global extruded PLA fiber market, with countries such as China and Japan leading the charge. The region's dominance is attributed to the increasing local consumption of eco-friendly products and the growing demand for sustainable materials. However, the decline in automotive production poses a potential threat to the market's growth in the coming years. The market is moderately consolidated, with a few key players like BASF SE, TORAY INDUSTRIES, INC, and Danimer Scientific holding significant market shares. These companies are pivotal in shaping the competitive landscape and driving innovation within the industry.

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Extruded PLA Fiber Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from Packaging Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Price in comparison to Conventional Fibers

      2. 1.2.2 Impact of COVID-19 Pandemic

    3. 1.3 Industry Value-chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 End-user Industry

      1. 2.1.1 Packaging

      2. 2.1.2 Transportation

      3. 2.1.3 Biomedical

      4. 2.1.4 Textiles

      5. 2.1.5 Other End-user Industries

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 ASEAN Countries

        6. 2.2.1.6 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 Italy

        4. 2.2.3.4 France

        5. 2.2.3.5 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Middle-East and Africa

        1. 2.2.5.1 Saudi Arabia

        2. 2.2.5.2 South Africa

        3. 2.2.5.3 Rest of Middle-East and Africa

Extruded PLA Fiber Market Size FAQs

The Extruded PLA Fiber Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)

BASF SE, TORAY INDUSTRIES, INC, NatureWorks LLC, Danimer Scientific and KURARAY CO., LTD are the major companies operating in the Extruded PLA Fiber Market.

Extruded PLA Fiber Market Report Snapshots

Extruded PLA Fiber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)