Malaysia Polylactic Acid Market Size & Outlook, 2023-2030
Malaysia polylactic acid market, 2019-2030 (US$M)
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Malaysia polylactic acid market highlights
- The Malaysia polylactic acid market generated a revenue of USD 6.4 million in 2023 and is expected to reach USD 27.5 million by 2030.
- The Malaysia market is expected to grow at a CAGR of 23.2% 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 6.4 million |
| Market revenue in 2030 | USD 27.5 million |
| Growth rate | 23.2% (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, Malaysia accounted for 0.9% 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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Malaysia 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 37.5% in 2023. Horizon Databook has segmented the Malaysia polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
Growing demand from textile segment is expected to fuel market growth in Malaysia. Increasing government support is propelling the growth of textile industry in the country. “Third Industrial Master Plan” initiatives announced by the government of Malaysia are expected to fuel the growth textile sector in the coming years.
The major growth areas for this plan include functional fabrics, industrial textiles, ethnic fabrics, high-end fabrics & garments, and main support facilities such as design houses and fashion centers. The growing textile market in the country is predicted to propel the growth of the Polylactic Acid market over the forecast period.
Manufacturers are taking necessary steps to use textiles made from renewable raw materials to reduce the negative environmental impact of textile industry, resulting in the growth of PLA in the country.
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Our clientele includes a mix of polylactic acid market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Malaysia polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Malaysia polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Malaysia polylactic acid market size, by end-use, 2019-2030 (US$M)
Malaysia Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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