Germany Polylactic Acid Market Size & Outlook, 2023-2030
Germany polylactic acid market, 2019-2030 (US$M)
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Germany polylactic acid market highlights
- The Germany polylactic acid market generated a revenue of USD 28.5 million in 2023 and is expected to reach USD 112.0 million by 2030.
- The Germany market is expected to grow at a CAGR of 21.6% 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 28.5 million |
| Market revenue in 2030 | USD 112.0 million |
| Growth rate | 21.6% (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, Germany accounted for 4.0% 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 Europe, Germany polylactic acid market is projected to lead the regional market in terms of revenue in 2030.
- Netherlands is the fastest growing regional market in Europe and is projected to reach USD 41.4 million by 2030.
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Polylactic Acid Market Scope
Polylactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany 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 36.49% in 2023. Horizon Databook has segmented the Germany polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
Germany is the largest consumer of PLA in Europe in 2020 owing to the presence of several end-use application industries. Furthermore, the presence of strict regulations regarding the use of conventional plastics, growing environmental concerns about plastic waste, and the establishment of standards for biodegradable plastics, such as EN 13432, are the factors contributing to market growth in Germany.
The packaging end-use sector accounts for the highest demand for PLA in the country. The rising demand for sustainable packaging, majorly from the food & beverage industry, is fueling the consumption of PLA.
Germany is the manufacturing hub of Europe and the largest manufacturer of automobiles in the region. The demand for PLA in the automotive sector is expected to be driven by properties such as impact resistance, UV resistance, high gloss, and excellent colorability.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Germany polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Germany polylactic acid market size, by end-use, 2019-2030 (US$M)
Germany Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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