Extruded PLA Fiber Market: Highlights

  • Polylactic acid (PLA) is a linear aliphatic thermoplastic polyester derived from 100% renewable sources such as corn. The polymer is compostable. Most of the initial uses of the polymer were limited to biomedical applications such as sutures and drug delivery systems due to availability and cost of manufacture. However, over the years, manufacturers have developed large-scale operations for the economic production of PLA polymer used for packaging and fiber applications.
  • PLA fiber possesses various characteristics that are similar to many other thermoplastic fibers such as controlled crimp, smooth surface, and low moisture regain. It is the only melt-processable fiber from annually renewable natural resources. The polymer has significant commercial potential as a textile fiber. Its mechanical properties are considered to be broadly similar to those of conventional PET.

Key Drivers of Extruded PLA Fiber Market

  • Textile is a prominent industry in China. The textile industry has been expanding significantly in the country due to the low cost of labor, inexpensive land, supportive government policies, large domestic consumer market, and abundant availability of human resource. Growth in the textile industry in Asia Pacific, especially in China and India, is projected to propel the extruded PLA fiber market during the forecast period.
  • PLA is bio-based and bio-degradable. It is widely used in many disposable packaging applications. Demand for PLA is high in various industries owing to the ongoing trend of using environmentally-friendly products. This is expected to drive the extruded PLA fiber market during the forecast period.

Extruded PLA Fiber Market: End-use Industry Segment

  • Based on end-use industry, the global extruded PLA fiber market can be segmented into packaging, transportation, biomedical, textiles, and others
  • The packaging segment is projected to account for major share of the global extruded PLA fiber market during the forecast period
  • Expanding at a healthy growth rate, the transportation and textiles segments are estimated to create significant incremental opportunities during the forecast period
  • In terms of demand, biomedical and others segments are projected to expand at a moderate to high pace in the near future

Covid-19 Impact on Extruded PLA Fiber Market

  • Several governments and private sector businesses have been operating with limited capacities due to the COVID-19 pandemic. Manufacturing activities across the globe have come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is hampering the extruded PLA fiber market.
  • The COVID-19 pandemic has had a severe negative impact on the globally integrated industries. The combination of extended lockdowns in developed market economies and domestic social distancing has deepened the adverse impact on emerging market economies. Longer lockdowns have severely impacted household income, corporations' liquidity, and banks' asset quality.

Asia Pacific to be Key Region of Global Extruded PLA Fiber Market

  • In terms of region, the global extruded PLA fiber market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In Asia Pacific, China and India are aiming to promote investments in their respective end-use industries. This is is likely to boost the extruded PLA fiber market in the near future.
  • In terms of demand, Asia Pacific held major share of the market in 2019. It was followed by North America and Europe. Rise in manufacture of products for usage in the region and growth in exports are driving the demand for extruded PLA fiber. Demand is shifting to Asia Pacific with economic contraction and saturation in the market in Europe and North America. Manufacturers of extruded PLA fiber are targeting Asia Pacific, as it is the strongest regional market.
  • The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding steadily. The packaging industry in the UAE has been expanding at a significant pace. This is projected to drive the demand for extruded PLA fiber in Latin America and Middle East & Africa, respectively, during the forecast period.

Global Extruded PLA Fiber Market: Research Scope

Key Manufacturers Operating in the Market

The global extruded PLA fiber market was highly fragmented in 2019. Key manufacturers operating in the global market include:

  • TORAY INDUSTRIES, INC
  • NatureWorks LLC
  • Futerro
  • KURARAY CO., LTD
  • UNITIKA LTD.
  • Total

Global Extruded PLA Fiber Market, by End-use Industry

  • Packaging
  • Transportation
  • Biomedical
  • Textiles
  • Others

Global Extruded PLA Fiber Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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