U.S. Polylactic Acid Market Size & Outlook, 2023-2030
U.S. polylactic acid market, 2019-2030 (US$M)
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U.S. polylactic acid market highlights
- The U.S. polylactic acid market generated a revenue of USD 241.7 million in 2023 and is expected to reach USD 889.1 million by 2030.
- The U.S. market is expected to grow at a CAGR of 20.5% 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 241.7 million |
| Market revenue in 2030 | USD 889.1 million |
| Growth rate | 20.5% (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, U.S. accounted for 33.9% 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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U.S. 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 35.29% in 2023. Horizon Databook has segmented the U.S. polylactic acid market based on packaging, agriculture, automotive & transport, electronics, textile covering the revenue growth of each sub-segment from 2019 to 2030.
The U.S. dominated the regional market in 2021 and is anticipated to maintain its dominance over the forecast period. The growing demand for bio-based packaging in the food and beverage sector is likely to drive the growth of the PLA market in the U.S. over the forecast period.
As of 2022, the U.S. was one of the major countries exporting large amounts of polylactic acid to other countries while other countries are exporting very small amounts of polylactic acid as compared to the U.S.
Due to the availability of raw materials and the presence of major PLA manufacturers, the country experiences rapid expansion. The increasing food processing business is expected to stimulate demand for packaging materials, resulting in PLA demand in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. polylactic acid market , including forecasts for subscribers. This country databook contains high-level insights into U.S. polylactic acid market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. polylactic acid market size, by end-use, 2019-2030 (US$M)
U.S. Polylactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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