The Latin America, Middle East and Africa Polylactic Acid Market would witness market growth of 23.0% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 32,697.9 Tonnes, showcasing a growth of 23.0% (2023-2030).
PLA is being combined with other polymers to improve its properties, expanding its applications. Blending PLA with materials like polyhydroxyalkanoates (PHA) enhances its biodegradability and performance in specific applications. Efforts to reduce the cost of PLA production are ongoing, making it more competitive with traditional plastics. Advancements in fermentation and polymerization processes are helping drive down production costs. Investments in PLA production facilities are on the rise to meet growing demand. This expansion will ensure a stable supply of PLA for various applications.
Moreover, PLA's biodegradable and barrier properties have positioned it as an attractive material for eco-friendly packaging. This trend is expected to continue, particularly in the food and beverage industry. The fashion industry is exploring PLA-based textiles as a sustainable alternative to traditional synthetics. PLA fabrics offer breathability, comfort, and a reduced environmental impact. Government regulations and bans on single-use plastics in various regions push industries to seek sustainable alternatives like PLA for packaging, disposable items, and more.
According to the International Trade Administration (ITA), the gross domestic product (GDP) of South Africa's automotive industry as a whole was 4.3% in 2021 (2.4% manufacturing and 1.9% retail). As the largest manufacturing sector in the economy, the production of vehicles and automotive components contributed a significant 18.7% of value-added to the domestic manufacturing output, maintaining the industry's position as a major player in South Africa's industrialization process. The automotive industry, which continues to be one of the more prominent recipients of foreign investment, saw seven Original Equipment Manufacturers (OEMs) invest R8.8 billion in 2021, the second-highest annual amount ever, and the component industry also made a sizeable R5.7 billion investment. The growth of the automotive sector in the LAMEA region will propel the demand for polylactic acid in the region.
The Brazil market dominated the LAMEA Polylactic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $73.2 million by 2030. The Argentina market is experiencing a CAGR of 23.6% during (2023 - 2030). Additionally, The UAE market would exhibit a CAGR of 22.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Polylactic Acid Markett is Projected to reach 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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