Mexico Polylactic Acid Market Size & Outlook, 2023-2030
Mexico polylactic acid market, 2019-2030 (US$M)
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Mexico polylactic acid market highlights
- The Mexico polylactic acid market generated a revenue of USD 19.4 million in 2023 and is expected to reach USD 74.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 21.2% 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 19.4 million |
| Market revenue in 2030 | USD 74.7 million |
| Growth rate | 21.2% (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, Mexico accounted for 2.7% 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 North America, U.S. polylactic acid market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 145.2 million by 2030.
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Polylactic Acid Market Scope
Polylactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 36.6% in 2023. Horizon Databook has segmented the Mexico 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 Mexico is expected to witness substantial growth over the forecast period owing to the rising demand from the packaging end-use sector for various applications such as bags, cups, lids, cutlery, straws, and containers, among others.
These aforementioned products are environment-friendly, sustainable, and compostable. Therefore, the growing demand for green and sustainable packaging solutions is projected to augment the demand for PLA in the Mexican market.
The rising demand for salted snacks in Mexico that require proper packaging is anticipated to lead to the growth of polylactic acid market in the country. The plastic manufacturing companies in Mexico have broad product portfolios comprising additives and modifiers, gels & conformal coatings, blends & dispersions, conductive materials, amines, adhesives & sealants, elastomers, and waxes & powders.
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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 Mexico polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Mexico polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico polylactic acid market size, by end-use, 2019-2030 (US$M)
Mexico Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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