The Europe Polylactic Acid Market would witness market growth of 20.0% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 51,143.5 Tonnes, showcasing a growth of 17.4% (2019-2022).
Various countries and regions have implemented policies to reduce the consumption of single-use plastics, encouraging industries to transition to sustainable alternatives like PLA. The European Union, for instance, has set ambitious targets to reduce plastic waste, spurring the adoption of PLA for packaging, disposable tableware, and more.
Moreover, the applications of polylactic acid are incredibly diverse, spanning a wide range of industries. Its versatility and biocompatibility have driven innovation and expansion in sectors such as packaging, textiles, medical devices, and automotive components. PLA is widely used in food packaging for its excellent barrier properties against oxygen and moisture. It is commonly employed in producing cups, containers, films, and cutlery. Its transparency and printability make it an attractive choice for branding and showcasing food products. PLA is making its mark in the textile industry as well. It is used to create bio-based and biodegradable fabrics, which offer a sustainable alternative to traditional synthetic textiles. PLA fibers are used in clothing, home textiles, and industrial applications.
The European automotive industry is a substantial contributor to the region's economy. It provides millions of jobs and accounts for a significant portion of the European Union's manufacturing output. It is a major driver of both economic growth and innovation. European automakers are globally competitive, producing many vehicles, from compact cars to luxury brands. The industry is known for its emphasis on quality, safety, and advanced engineering. Europe exports a significant number of vehicles to countries around the world. Germany, in particular, is a major exporter of automobiles, with brands like Volkswagen, BMW, and Mercedes-Benz being recognized globally. The European automotive sector is renowned for creating various automobiles, including electric, sports, luxury, and compact cars. European manufacturers are at the forefront of EV technology and producing cutting-edge features. Thus, the rise in the automobile sector in Europe will boost the demand for polylactic acid in the region.
The Germany market dominated the Europe Polylactic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $310 million by 2030. The UK market is showcasing a CAGR of 19% during (2023 - 2030). Additionally, The France market would register a CAGR of 20.8% during (2023 - 2030).
Based on End-use, the market is segmented into Packaging, Agriculture, Electronics, Textile, Automotive & Transport, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Polylactic Acid Markett will Hit USD 4 Billion by 2030, at a CAGR of 20.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toray Industries, Inc., NatureWorks LLC, Futerro SA (GALACTIC group), COFCO Corporation, Shanghai Tong-jie-liang Biomaterials Co., LTD., Zhejiang Hisun Biomaterials Co., Ltd., BASF SE, Evonik Industries AG (RAG-Stiftung), Mitsubishi Chemical Holdings Corporation, and DANIMER SCIENTIFIC, INC.
By End-use (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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