North America Polylactic Acid Market Size & Outlook
North America polylactic acid market, 2019-2030 (US$M)
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North America polylactic acid market highlights
- The North America polylactic acid market generated a revenue of USD 298.1 million in 2023.
- The market is expected to grow at a CAGR of 20.6% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 298.1 million |
| Market revenue in 2030 | USD 1,108.9 million |
| Growth rate | 20.6% (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, North America region accounted for 41.8% 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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North 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 35.73% in 2023. Horizon Databook has segmented the North America polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
The North American market is expected to be driven by the growing demand for bioplastics. Furthermore, the regional market is characterized by a strong demand for sustainable products, which has resulted in a rising demand for sustainability in packaging.
The increasing demand for ready-to-eat packaged food, snacks, etc. that offer convenience and nutritional value to consumers, along with changes in the lifestyle of masses in North America, is expected to fuel the growth of polylactic acid market in the region from 2022 to 2030.
Geographically, North America dominates polylactic acid market owing to favorable government mandates that encourage the production of polylactic acid in the region, along with easy availability of raw materials for developing this acid in North America, particularly in the U.S.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America polylactic acid market , including forecasts for subscribers. This continent databook contains high-level insights into North America polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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North America polylactic acid market size, by country, 2019-2030 (US$M)
North America Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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