Market Size of Extruded PLA Fiber Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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 | ||||||||
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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.
Extruded PLA Fiber Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from Packaging Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 High Price in comparison to Conventional Fibers
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1.2.2 Impact of COVID-19 Pandemic
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1.3 Industry Value-chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 End-user Industry
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2.1.1 Packaging
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2.1.2 Transportation
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2.1.3 Biomedical
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2.1.4 Textiles
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2.1.5 Other End-user Industries
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 ASEAN Countries
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2.2.1.6 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Extruded PLA Fiber Market Size FAQs
What is the current Extruded PLA Fiber Market size?
The Extruded PLA Fiber Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)
Who are the key players in Extruded PLA Fiber Market?
BASF SE, TORAY INDUSTRIES, INC, NatureWorks LLC, Danimer Scientific and KURARAY CO., LTD are the major companies operating in the Extruded PLA Fiber Market.
