India Polylactic Acid Market Size & Outlook, 2023-2030
India polylactic acid market, 2019-2030 (US$M)
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India polylactic acid market highlights
- The India polylactic acid market generated a revenue of USD 14.3 million in 2023 and is expected to reach USD 63.3 million by 2030.
- The India market is expected to grow at a CAGR of 23.7% 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 14.3 million |
| Market revenue in 2030 | USD 63.3 million |
| Growth rate | 23.7% (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, India accounted for 2.0% 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 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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India 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 37.06% in 2023. Horizon Databook has segmented the India polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
India is likely to be the fastest-growing market for Polylactic Acid in the Asia Pacific region. Growing population, increasing consumption of apparel, and increasing foreign investments are some of the major socio-economic factors that are likely to support the market growth in the country.
Moreover, rising demand for the product from the medical, electronics, appliances, packaging, textiles, automotive, and agriculture sectors is anticipated to fuel the demand for the product in the country. In addition, government initiatives to reduce the use of single-use plastics in the country are anticipated to create demand for PLA over the forecast period.
Under the “Clean India Mission” initiative, the government intends to end the use of single-use plastics by 2022. The environment-friendly, recyclable, and compostable nature of PLA, coupled with rising awareness about the impact of conventional plastics among consumers, is anticipated to create demand for sustainable materials such as PLA in the coming years among various end-use sectors.
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Horizon Databook provides a detailed overview of country-level data and insights on the India polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into India polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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India polylactic acid market size, by end-use, 2019-2030 (US$M)
India Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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