North America Polylactic Acid Market Size, Share & Industry Trends Analysis Report By End-use (Packaging, Agriculture, Electronics, Textile, Automotive & Transport, and Others), By Country and Growth Forecast, 2023

Description

List of Tables

The North America Polylactic Acid Market would witness market growth of 20.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 51,920.3 Tonnes, showcasing a growth of 17.9% (2019-2022).

Polylactic acid (PLA), a biodegradable and renewable biopolymer, has quickly become a key participant in the materials business. Concerns over environmental sustainability and the depletion of fossil fuels have led to a notable increase in PLA's use and adoption in recent years. The preference for polylactic acid among consumers and industry can be due to its eco-friendliness and versatility, leading to its adoption. PLA is made from renewable resources like sugarcane or corn starch, providing a sustainable substitute for conventional polymers made from petroleum. The biodegradability of PLA further enhances its appeal, as it reduces the burden of non-recyclable plastic waste in landfills and oceans. As awareness of environmental issues rises, PLA is increasingly seen as a responsible choice for reducing plastic pollution.

Additionally, one of the key drivers of PLA adoption is the push for sustainable and eco-friendly products. Both consumers and regulatory bodies increasingly demand products and packaging with a reduced carbon footprint. PLA fits the bill by being a carbon-neutral material, as it absorbs CO2 during its production from renewable sources. Its ability to break down naturally ensures that products made from PLA have a limited environmental impact, especially when compared to traditional plastics.

The agriculture and agri-food sector significantly contribute to the Canadian economy. Agriculture and Agri-Food Canada's mandate includes providing support to primary agriculture, which encompasses farmers, as well as the food and beverage processing industry. Still, the sector reaches into the broader agri-food system, influencing other sectors across the food supply chain. As per the data provided by the Government of Canada, in 2022, the whole agriculture and agri-food system generated $143.8 billion (around 7.0%) of Canada's gross domestic product (GDP). In 2022, the farm market receipts were at a record high of $87.7 billion. Therefore, the rising agriculture sector in North America will boost the demand for polylactic acid in the region.

The US market dominated the North America Polylactic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $904.3 million by 2030. The Canada market is registering a CAGR of 23.3% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 22.2% 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 U.S., Mexico, Canada, and Rest of North America.

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.

Scope of the Study

Market Segments covered in the Report:

By End-use (Volume, Tonnes, USD Million, 2019-2030)

Packaging
Agriculture
Electronics
Textile
Automotive & Transport
Others

By Country (Volume, Tonnes, USD Million, 2019-2030)

US
Canada
Mexico
Rest of North America

Companies Profiled

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
DANIMER SCIENTIFIC, INC.

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Chapter 1. Market Scope & Methodology

1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
- 1.4.1 North America Polylactic Acid Market, by End-use
- 1.4.2 North America Polylactic Acid Market, by Country
1.5 Methodology for the research

Chapter 2. Market At a Glance

2.1 Key Highlights

Chapter 3. Market Overview

3.1 Introduction
- 3.1.1 Overview
  - 3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
3.3 Porter Five Forces Analysis

Chapter 4. North America Polylactic Acid Market by End-use

4.1 North America Packaging Market by Country
4.2 North America Agriculture Market by Country
4.3 North America Electronics Market by Country
4.4 North America Textile Market by Country
4.5 North America Automotive & Transport Market by Country
4.6 North America Others Market by Country

Chapter 5. North America Polylactic Acid Market by Country

5.1 US Polylactic Acid Market
- 5.1.1 US Polylactic Acid Market by End-use
5.2 Canada Polylactic Acid Market
- 5.2.1 Canada Polylactic Acid Market by End-use
5.3 Mexico Polylactic Acid Market
- 5.3.1 Mexico Polylactic Acid Market by End-use
5.4 Rest of North America Polylactic Acid Market
- 5.4.1 Rest of North America Polylactic Acid Market by End-use

Chapter 6. Company Profiles

6.1 NatureWorks LLC
- 6.1.1 Company Overview
- 6.1.2 Recent strategies and developments:
  - 6.1.2.1 Partnerships, Collaborations, and Agreements:
  - 6.1.2.2 Product Launches and Product Expansions:
- 6.1.3 SWOT Analysis
6.2 Futerro SA (GALACTIC group)
- 6.2.1 Company Overview
- 6.2.2 Recent strategies and developments:
  - 6.2.2.1 Geographical Expansions:
- 6.2.3 SWOT Analysis
6.3 Shanghai Tong-jie-liang Biomaterials Co., LTD.
- 6.3.1 Company Overview
- 6.3.2 SWOT Analysis
6.4 Zhejiang Hisun Biomaterials Co., Ltd.
- 6.4.1 Company Overview
6.5 Danimer Scientific, Inc.
- 6.5.1 Company Overview
- 6.5.2 Financial Analysis
- 6.5.3 Regional Analysis
- 6.5.4 Research & Development Expenses
- 6.5.5 Recent strategies and developments:
  - 6.5.5.1 Partnerships, Collaborations, and Agreements:
6.6 Toray Industries, Inc.
- 6.6.1 Company Overview
- 6.6.2 Financial Analysis
- 6.6.3 Segmental and Regional Analysis
- 6.6.4 Research & Development Expense
- 6.6.5 SWOT Analysis
6.7 COFCO Corporation
- 6.7.1 Company Overview
- 6.7.2 SWOT Analysis
6.8 BASF SE
- 6.8.1 Company Overview
- 6.8.2 Financial Analysis
- 6.8.3 Segmental and Regional Analysis
- 6.8.4 Research & Development Expense
- 6.8.5 Recent strategies and developments:
  - 6.8.5.1 Partnerships, Collaborations, and Agreements:
- 6.8.6 SWOT Analysis
6.9 Evonik Industries AG (RAG-Stiftung)
- 6.9.1 Company Overview
- 6.9.2 Financial Analysis
- 6.9.3 Segmental and Regional Analysis
- 6.9.4 Research & Development Expenses
- 6.9.5 Recent strategies and developments:
  - 6.9.5.1 Product Launches and Product Expansions:
- 6.9.6 SWOT Analysis
6.10. Mitsubishi Chemical Holdings Corporation
- 6.10.1 Company Overview
- 6.10.2 Financial Analysis
- 6.10.3 Segmental Analysis
- 6.10.4 Research & Development Expense
- 6.10.5 SWOT Analysis

LIST OF TABLES

TABLE 1 North America Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 2 North America Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 3 North America Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 4 North America Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 5 North America Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 6 North America Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 7 North America Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 8 North America Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 9 North America Packaging Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Packaging Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Packaging Market by Country, 2019 - 2022, Tonnes
TABLE 12 North America Packaging Market by Country, 2023 - 2030, Tonnes
TABLE 13 North America Agriculture Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Agriculture Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Agriculture Market by Country, 2019 - 2022, Tonnes
TABLE 16 North America Agriculture Market by Country, 2023 - 2030, Tonnes
TABLE 17 North America Electronics Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Electronics Market by Country, 2023 - 2030, USD Million
TABLE 19 North America Electronics Market by Country, 2019 - 2022, Tonnes
TABLE 20 North America Electronics Market by Country, 2023 - 2030, Tonnes
TABLE 21 North America Textile Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Textile Market by Country, 2023 - 2030, USD Million
TABLE 23 North America Textile Market by Country, 2019 - 2022, Tonnes
TABLE 24 North America Textile Market by Country, 2023 - 2030, Tonnes
TABLE 25 North America Automotive & Transport Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Automotive & Transport Market by Country, 2023 - 2030, USD Million
TABLE 27 North America Automotive & Transport Market by Country, 2019 - 2022, Tonnes
TABLE 28 North America Automotive & Transport Market by Country, 2023 - 2030, Tonnes
TABLE 29 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 31 North America Others Market by Country, 2019 - 2022, Tonnes
TABLE 32 North America Others Market by Country, 2023 - 2030, Tonnes
TABLE 33 North America Polylactic Acid Market by Country, 2019 - 2022, USD Million
TABLE 34 North America Polylactic Acid Market by Country, 2023 - 2030, USD Million
TABLE 35 North America Polylactic Acid Market by Country, 2019 - 2022, Tonnes
TABLE 36 North America Polylactic Acid Market by Country, 2023 - 2030, Tonnes
TABLE 37 US Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 38 US Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 39 US Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 40 US Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 41 US Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 42 US Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 43 US Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 44 US Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 45 Canada Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 46 Canada Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 47 Canada Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 48 Canada Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 49 Canada Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 50 Canada Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 51 Canada Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 52 Canada Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 53 Mexico Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 54 Mexico Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 55 Mexico Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 56 Mexico Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 57 Mexico Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 58 Mexico Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 59 Mexico Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 60 Mexico Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 61 Rest of North America Polylactic Acid Market, 2019 - 2022, USD Million
TABLE 62 Rest of North America Polylactic Acid Market, 2023 - 2030, USD Million
TABLE 63 Rest of North America Polylactic Acid Market, 2019 - 2022, Tonnes
TABLE 64 Rest of North America Polylactic Acid Market, 2023 - 2030, Tonnes
TABLE 65 Rest of North America Polylactic Acid Market by End-use, 2019 - 2022, USD Million
TABLE 66 Rest of North America Polylactic Acid Market by End-use, 2023 - 2030, USD Million
TABLE 67 Rest of North America Polylactic Acid Market by End-use, 2019 - 2022, Tonnes
TABLE 68 Rest of North America Polylactic Acid Market by End-use, 2023 - 2030, Tonnes
TABLE 69 Key Information - NatureWorks LLC
TABLE 70 Key Information - Futerro SA
TABLE 71 Key Information - Shanghai Tong-jie-liang Biomaterials CO., LTD.
TABLE 72 Key Information - Zhejiang Hisun Biomaterials Co., Ltd.
TABLE 73 Key Information - Danimer Scientific, Inc.
TABLE 74 Key Information - Toray Industries, Inc.
TABLE 75 Key Information - COFCO Corporation
TABLE 76 Key Information - BASF SE
TABLE 77 Key Information - Evonik Industries AG
TABLE 78 Key Information - MITSUBISHI CHEMICAL HOLDINGS CORPORATION

North America Polylactic Acid Market Size, Share & Industry Trends Analysis Report By End-use (Packaging, Agriculture, Electronics, Textile, Automotive & Transport, and Others), By Country and Growth Forecast, 2023 - 2030