China Polylactic Acid Market Size & Outlook, 2023-2030
China polylactic acid market, 2019-2030 (US$M)
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China polylactic acid market highlights
- The China polylactic acid market generated a revenue of USD 106.4 million in 2023 and is expected to reach USD 422.4 million by 2030.
- The China market is expected to grow at a CAGR of 21.8% 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 106.4 million |
| Market revenue in 2030 | USD 422.4 million |
| Growth rate | 21.8% (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, China accounted for 14.9% 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 Asia Pacific, China polylactic acid market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 63.3 million by 2030.
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Polylactic Acid Market Scope
Polylactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 39.66% in 2023. Horizon Databook has segmented the China polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
China dominated the Asia Pacific PLA market, in terms of both revenue and volume, in 2021. The Chinese market is anticipated to witness significant growth over the forecast period owing to the rising demand for the product in end-use including packaging, automotive & transport, agriculture, appliances, electronics, and textile.
The country is one of the prominent consumers of non-alcoholic beverages across the globe, which, in turn, contributes to the increased demand for PLA in the packaging sector. The country is also one of the biggest consumers of packed food products including fresh food, ready-to-eat food, and processed food, which further paves the way for the use of PLA in packaging end-use.
According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), China was the largest producer of vehicles in Asia Pacific and produced 26.08 Thousand-unit vehicles in 2021. Ascending demand for electric vehicles is expected to have a positive impact on the automotive industry.
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Our clientele includes a mix of polylactic acid market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the China polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into China polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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China polylactic acid market size, by end-use, 2019-2030 (US$M)
China Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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