Middle East & Africa Polylactic Acid Market Size & Outlook
Middle East & Africa polylactic acid market, 2019-2030 (US$M)
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MEA polylactic acid market highlights
- The MEA polylactic acid market generated a revenue of USD 29.4 million in 2023.
- The market is expected to grow at a CAGR of 20.8% 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.
MEA data book summary
| Market revenue in 2023 | USD 29.4 million |
| Market revenue in 2030 | USD 110.7 million |
| Growth rate | 20.8% (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, MEA region accounted for 4.1% 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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Middle East & Africa 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 38.78% in 2023. Horizon Databook has segmented the Middle East & Africa polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
The Middle East & Africa PLA market is anticipated to witness steady growth over the forecast period. Saudi Arabia dominated the Middle East & Africa PLA market in 2021 and this trend is expected to continue over the forecast period.
Increased COVID-19 positive cases in countries, such as Saudi Arabia, Iran, South Africa, and the UAE, have fueled the demand for protective apparel and 3D printing filament, which, in turn, is further anticipated to propel the demand for PLA in this end-use.
Over the past decade, the packaging industry in the Middle East & Africa has been experiencing significant growth owing to the increasing number of supermarkets, hypermarkets, and departmental stores in the region resulting from changing purchasing patterns of consumers.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa polylactic acid market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa polylactic acid market
Middle East & Africa Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa polylactic acid market
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