Canada Polylactic Acid Market Size & Outlook, 2023-2030
Canada polylactic acid market, 2019-2030 (US$M)
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Canada polylactic acid market highlights
- The Canada polylactic acid market generated a revenue of USD 37.1 million in 2023 and is expected to reach USD 145.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 21.5% from 2024 to 2030.
- In terms of segment, packaging was the largest revenue generating end-use in 2023.
- Textile is the most lucrative end-use segment registering the fastest growth during the forecast period.
Polylactic acid market data book summary
| Market revenue in 2023 | USD 37.1 million |
| Market revenue in 2030 | USD 145.2 million |
| Growth rate | 21.5% (CAGR from 2023 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | Textile |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging, Agriculture, Automotive & Transport, Electronics, Textile |
| Key market players worldwide | TotalEnergies SE, Cargill, Virgin Galactic Holdings Inc Shs A, COFCO Joycome Foods Ltd Ordinary Shares, Zhejiang Haishen New Materials, Basf SE, Danimer Scientific Inc Ordinary Shares - Class A, Mitsubishi Chemical Group Corp, Unitika Ltd |
Other key industry trends
- In terms of revenue, Canada accounted for 5.2% of the global polylactic acid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. polylactic acid market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 145.2 million by 2030.
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Polylactic Acid Market Scope
Polylactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada polylactic acid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to polylactic acid market will help companies and investors design strategic landscapes.
Packaging was the largest segment with a revenue share of 38.01% in 2023. Horizon Databook has segmented the Canada polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
The growing demand for textiles in the region is expected to result in increased consumption of polylactic acid. Moreover, the increasing demand for technical textiles on account of their use in a broad range of end-use, including agriculture, transportation, construction, and medical, is expected to augment the demand for polylactic acid over the forecast period.
The textile segment in Canada is expected to grow at a rapid pace accounting to the expanded options such as textiles and smart fabrics that incorporate digital monitoring components in diverse applications such as sports and health performance, PLA is expected to see increasing demand.
The usage of other plastics which are not easily recyclable and eco-friendly as PLA in packaging applications has decreased in cities of Canada, including Vancouver, Victoria, and Montreal owing to the restrictions imposed by the federal government of the country on their usage.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Canada polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Canada polylactic acid market size, by end-use, 2019-2030 (US$M)
Canada Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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