UK Polylactic Acid Market Size & Outlook, 2023-2030
UK polylactic acid market, 2019-2030 (US$M)
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UK polylactic acid market highlights
- The UK polylactic acid market generated a revenue of USD 24.2 million in 2023 and is expected to reach USD 98.1 million by 2030.
- The UK market is expected to grow at a CAGR of 22.2% 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 24.2 million |
| Market revenue in 2030 | USD 98.1 million |
| Growth rate | 22.2% (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, UK accounted for 3.4% 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 Europe, Germany polylactic acid market is projected to lead the regional market in terms of revenue in 2030.
- Netherlands is the fastest growing regional market in Europe and is projected to reach USD 41.4 million by 2030.
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Polylactic Acid Market Scope
Polylactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 34.3% in 2023. Horizon Databook has segmented the UK 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 UK is expected to grow at a significant rate on account of recent developments regarding the use of biopolymer and compostable packaging in the grocery sector. Industries utilizing these green packaging materials are food & beverage and pharmaceuticals, among others.
However, declining consumer discretionary spending owing to the focus on essential end-uses is anticipated to impact the industry’s growth, especially in the fashion apparel segment. However, increasing demand for protective apparel such as masks and gowns is positively fueling the growth of the textile industry, thereby generating demand for PLA.
The demand for bioplastics such as polylactic acid is surging in the UK owing to the increasing consumption of different packaging products in the country. Apart from the packaging industry, the textiles, automotive, and agriculture industries of the UK are also witnessing risen consumption of polylactic acid in different applications.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into UK polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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UK polylactic acid market size, by end-use, 2019-2030 (US$M)
UK Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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