Philippines Polylactic Acid Market Size & Outlook
Philippines polylactic acid market, 2019-2030 (US$M)
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Philippines polylactic acid market highlights
- The Philippines polylactic acid market generated a revenue of USD 5.3 million in 2023 and is expected to reach USD 22.2 million by 2030.
- The Philippines market is expected to grow at a CAGR of 22.5% 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 5.3 million |
| Market revenue in 2030 | USD 22.2 million |
| Growth rate | 22.5% (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, Philippines accounted for 0.7% 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 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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Philippines 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 37.74% in 2023. Horizon Databook has segmented the Philippines polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
The Polylactic Acid market in the Philippines is majorly driven by the packaging segment. In 2019, the overall packaging industry profited from an increase in consumption, driven by better economic growth and increased spending power of consumers.
Flexible packaging is expected to fuel market demand. In addition, the agriculture sector is also anticipated to propel the demand for PLA over the forecast period. Agriculture is one of the major sectors contributing to the country’s GDP.
The growing use of plastic in electronics industry for the manufacture of mobile phone casings and computer is driving the Polylactic Acid market in the country. Moreover, to reduce the use of single-use plastic for controlling pollution, especially in the oceans, alternative packaging materials are likely to grow, resulting in the growth of the PLA market 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 Philippines polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Philippines polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Philippines polylactic acid market size, by end-use, 2019-2030 (US$M)
Philippines Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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