Extruded Polylactic Acid Fiber Market Growth & Trends [2031]

Segments - Extruded Polylactic Acid Fiber Market by End-user Industries (Packaging, Transportation, Biomedical, Textiles, and Other End-user Industries) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Riddhesh Dani

Fact-checked by : Harneet Meher

Editor : Shruti Bhat

Report Description

The global extruded polylactic acid fiber market size is projected to expand a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising demand from the packaging industry.

Global Extruded Polylactic Acid Fiber Market Summary

Extruded polylactic acid fiber is a sustainable polyester and nylon alternative. Polylactic acid is produced by fermenting cornstarch, sugar cane bagasse, tapioca roots, and other carbohydrates. The extruded hot polymer is exposed to a cold medium and is solidified with help of the melt spinning method. The same method is used to extrude the polylactic acid pellets in the form of fiber.

The sustainable polyester is used in various industries, including transportation, textiles, packaging, and healthcare. Extruded polylactic acid fibers can be found in everyday life and are utilized in a variety of applications, including industrial, commercial, and personal. Polylactic acid fibers can be used to produce active clothes, fishing nets, and car upholstery, among others.

Market Trends, Drivers, Restraints, and Opportunities:

Growing demand for eco-friendly and recyclable alternatives for synthetic fibers is one of the major drivers contributing to the market growth.
Increasing demand for polylactic acid fiber from developing countries is expected to spur the growth of the market.
High cost of extruded polylactic acid fibers as compared to conventional fibers is anticipated to hamper the market growth.
The decline in the manufacturing of automobiles due to chip shortage can inhibit the market growth for short period of time.
The COVID-19 pandemic have hampered the extruded polylactic acid fiber market owing to supply chain disruption.
Environment agencies and many government authorities are enforcing the use of extruded polylactic acid fiber, which can create lucrative opportunities for the market growth during the forecast period.

Scope of the Report

The report on the global extruded polylactic acid fiber market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Extruded Polylactic Acid fiber - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	End-user Industries (Packaging, Transportation, Biomedical, Textiles, and Other End-user Industries)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	BASF SE; TORAY INDUSTRIES, INC; NatureWorks LLC; Danimer Scientific; and KURARAY CO., LTD

Extruded Polylactic Acid Fiber Market Segment Insights

Packaging segment is expected to grow at a rapid pace

Based on end-user industries, the market is divided into packaging, transportation, biomedical, textiles, and other end-user industries. The packaging segment is expected to grow at a rapid pace during the forecast period. This segment accounted for large market share market in 2020, in terms of revenue. Growing demand for packaging materials throughout the globe as a result of the expanding e-commerce activities and increasing disposable income. Furthermore, the food and beverage sector is driven by ready-to-cook items, boosting the growth of the packaging segment. Extruded polylactic acid fiber uses plant-based raw materials, which are widely used and readily available. Moreover, rising trend of ecofriendly and sustainable packaging practices are expected to proliferate the market growth. However, the textiles segment is anticipated to hold a key share of the market in the coming years. Rising use of biodegradable natural polymer is driving the segment growth.

Global Extruded Polylactic Acid Fiber Market End User

Asia Pacific is anticipated to constitute a major market share

In terms of regions, the extruded polylactic acid fiber market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a large share of the market during the projected period. Increasing demand from countries such as China and Japan is driving the regional market growth. Furthermore, growing demand for environmentally friendly products in the region is expected to foster the market growth. On the other hand, the market in North America is anticipated to grow at a steady rate owing to rapid growth in the packaging industry.

Global Extruded Polylactic Acid Fiber Market Region

Segments

Segments Covered in the Report
The global extruded polylactic acid fiber market has been segmented on the basis of
End-user Industries

Packaging
Transportation
Biomedical
Textiles
End-user Industries

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

BASF SE
TORAY INDUSTRIES, INC
NatureWorks LLC
Danimer Scientific
KURARAY CO., LTD

Competitive Landscape

Key players competing in the extruded polylactic acid fiber market are BASF SE; TORAY INDUSTRIES, INC; NatureWorks LLC; Danimer Scientific; and KURARAY CO., LTD.

Companies are adopting strategies such as acquisitions, expansions, and capacity expansion to expand their market share.

Global Extruded Polylactic Acid Fiber Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Extruded Polylactic Acid Fiber Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Extruded Polylactic Acid Fiber Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Extruded Polylactic Acid Fiber Market - Supply Chain
  4.5. Global Extruded Polylactic Acid Fiber Market Forecast
     4.5.1. Extruded Polylactic Acid Fiber Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Extruded Polylactic Acid Fiber Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Extruded Polylactic Acid Fiber Market Absolute $ Opportunity
5. Global Extruded Polylactic Acid Fiber Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Extruded Polylactic Acid Fiber Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Extruded Polylactic Acid Fiber Demand Share Forecast, 2019-2026
6. North America Extruded Polylactic Acid Fiber Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Extruded Polylactic Acid Fiber Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Extruded Polylactic Acid Fiber Demand Share Forecast, 2019-2026
7. Latin America Extruded Polylactic Acid Fiber Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Extruded Polylactic Acid Fiber Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Extruded Polylactic Acid Fiber Demand Share Forecast, 2019-2026
8. Europe Extruded Polylactic Acid Fiber Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Extruded Polylactic Acid Fiber Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Extruded Polylactic Acid Fiber Demand Share Forecast, 2019-2026
9. Asia Pacific Extruded Polylactic Acid Fiber Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Extruded Polylactic Acid Fiber Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Extruded Polylactic Acid Fiber Demand Share Forecast, 2019-2026
10. Middle East & Africa Extruded Polylactic Acid Fiber Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Extruded Polylactic Acid Fiber Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Extruded Polylactic Acid Fiber Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Extruded Polylactic Acid Fiber Market: Market Share Analysis
  11.2. Extruded Polylactic Acid Fiber Distributors and Customers
  11.3. Extruded Polylactic Acid Fiber Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. BASF SE
     11.4.2. TORAY INDUSTRIES, INC
     11.4.3. NatureWorks LLC
     11.4.4. Danimer Scientific
     11.4.5. KURARAY CO., LTD