Latin America Polylactic Acid Market Size & Outlook
Latin America polylactic acid market, 2019-2030 (US$M)
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Latin America polylactic acid market highlights
- The Latin America polylactic acid market generated a revenue of USD 35.5 million in 2023.
- The 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 35.5 million |
| Market revenue in 2030 | USD 140.8 million |
| Growth rate | 21.8% (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, Latin America region accounted for 5.0% 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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Latin America 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 36.9% in 2023. Horizon Databook has segmented the Latin America polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
Increasing demand for PLA in packaging, textile, medical, and other end-use is fueling the market growth in the region. The presence of major agricultural countries in the region, such as Brazil, Argentina, Chile, and others, is anticipated to create a demand for PLA over the forecast period.
Rising coronavirus cases in Brazil, Argentina, Chile, Colombia, and other countries are impacting the demand for PLA among various end-use, such as fashion apparel, automotive, electronics, and others, owing to the slowdown in manufacturing activities and reduced demand from end-use customers.
Moreover, the growing demand for plastics for developing packaging products such as rigid containers used for storing yogurt, juices, and water, along with a number of other food products, is fueling the demand for polylactic acid in the region, thereby contributing to the growth of the market in Central & South America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America polylactic acid market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America polylactic acid market size, by country, 2019-2030 (US$M)
Latin America Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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