Europe Polylactic Acid Market Size & Outlook, 2023-2030
Europe polylactic acid market, 2019-2030 (US$M)
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Europe polylactic acid market highlights
- The Europe polylactic acid market generated a revenue of USD 149.6 million in 2023.
- The market is expected to grow at a CAGR of 21.9% 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.
- Country-wise, Netherlands is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 149.6 million |
| Market revenue in 2030 | USD 598.4 million |
| Growth rate | 21.9% (CAGR from 2023 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | Textile |
| Historical data covered | 2019 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Europe region accounted for 21.0% of the global polylactic acid market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 814.2 million by 2030.
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Polylactic Acid Market Scope
Polylactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe 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 35.76% in 2023. Horizon Databook has segmented the Europe polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
Europe was the third-largest regional market, in terms of both volume and revenue, in 2022 and is expected to retain its place over the forecast period. The European PLA market is expected to increase significantly in the next years as a consequence of many factors such as the presence of rigorous environmental laws and rising consumer environmental concerns.
In 2021, members of the European Parliament decided to ban single-use plastic end-uses such as cutlery, straws, and others as part of a comprehensive regulation to combat plastic trash that pollutes oceans and ruins beaches.
Automotive and packaging are the key end-use industries of polylactic acid in Europe. The governments of different countries in the region have undertaken several initiatives to increase awareness among the masses regarding polylactic acid. As a result of these initiatives, there is a high demand for polylactic acid in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe polylactic acid market , including forecasts for subscribers. This continent databook contains high-level insights into Europe polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Europe polylactic acid market size, by country, 2019-2030 (US$M)
Europe Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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