Japan Polylactic Acid Market Size & Outlook, 2023-2030
Japan polylactic acid market, 2019-2030 (US$M)
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Japan polylactic acid market highlights
- The Japan polylactic acid market generated a revenue of USD 38.1 million in 2023 and is expected to reach USD 153.1 million by 2030.
- The Japan market is expected to grow at a CAGR of 22% 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 38.1 million |
| Market revenue in 2030 | USD 153.1 million |
| Growth rate | 22% (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, Japan accounted for 5.3% 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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Japan 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 34.65% in 2023. Horizon Databook has segmented the Japan polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
The PLA market in Japan is majorly driven by the packaging, textile, electronics, and appliances segments. Growing concerns about plastic waste among the public and the rejection from China to import plastic trash from Japan are some of the major factors driving the demand for bio-based plastics in the country.
Furthermore, according to health policy studies of the Organization for Economic Co-operation and Development (OECD), Japan has the highest life expectancy of 83.9 years among OECD countries. The rising prevalence of diseases among the aging population is fueling the demand for medical devices in the country.
This is expected to drive the demand for PLA in Japan over the forecast period. The growing automobile industry in Japan for the production of parts like body panels, seat covers, interior components, bumpers, seat covers, and other automotive parts is driving the Polylactic Acid market in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Japan polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Japan polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Japan polylactic acid market size, by end-use, 2019-2030 (US$M)
Japan Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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