According to a new report, published by KBV research, The Global Polylactic Acid Market size is expected to reach $4 billion by 2030, rising at a market growth of 20.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,86,717.1 Tonnes, experiencing a growth of 18.1% (2019-2022).
The Textile segment is showcasing a CAGR of 22.2% during (2023 - 2030). There has been a steady increase in consumer knowledge of sustainability issues and the desire for eco-friendly products. As a result, the fashion industry is increasingly exploring sustainable alternatives to traditional synthetic textiles. PLA textiles, being biodegradable and derived from renewable resources, align well with the sustainability goals of the fashion industry. PLA fibers produce eco-friendly apparel, including clothing, activewear, and sportswear. These textiles offer a sustainable and comfortable tactile experience, thereby mitigating the environmental footprint associated with the resource-intensive practices prevalent in the fashion industry. Owing to these factors, the segment will grow rapidly in the coming years.
The Europe region dominated the Global Polylactic Acid Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.4 Billion by 2030. The North America market is anticipated to grow at a CAGR of 20.6% during (2023 - 2030). Additionally, The Asia Pacific market would display a CAGR of 21.6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/polylactic-acid-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography (Volume, Tonnes, USD Million, 2019-2030)
Companies Profiled
Unique Offerings 
