Global Polylactic Acid Market to Grow at a CAGR of 21.6% Till 2020
PORTLAND, Oregon, April 29, 2014 /PRNewswire/ --
One more addition to the ingenious database of Research Beam is the report titled "Polylactic Acid (PLA) Market in Packaging, Textile, Agriculture, Transportation, Bio-Medical, Electronics and Others - Global Industry Size, Company Share, Growth, Trends, Strategic Analysis and Forecast, 2012 - 2020." This deeply studied report by AMR is adept at providing business solutions to some of the major global PLA market related queries.
The report analyzes global PLA market to stand at $5.2 billion by 2020, registering a CAGR of 19.5% from 2013 to 2020. Further, the report predicts Asia Pacific region to record the highest CAGR of 21.6% during the analysis period. However, despite slower growth rate, Europe would generate highest revenue during the forecast period.
To view the complete report, visit us @ http://www.researchbeam.com/polylactic-acid-market
"Governments across the globe have been instrumental in imposing ban on the use of fossil fuel-based products such as plastic bags and are also providing incentives for bio-based PLA production. Moreover, the rising petrochemical prices in association with growing awareness for environment safety have been the prime contributors towards the growth of Polylactic Acid market" state AMR analysts. "The ongoing research on reinforcement of PLA with other materials would bring opportunities for PLA with much improved products in future." adds the analyst.
The report identified two important factors that contribute immensely to the growth of global PLA market, namely abundant raw materials and low production cost. Further, report suggests that the production cost will dip with discoveries of alternate source of raw materials. In terms of market restraints, analysts added, "Need for industrial composting to completely degrade PLA would act as an important restraint."
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As per the report, market segments of Global PLA market consist of raw materials and applications. The report further divides the applications market as Packaging, Electronics, Textile (Woven and non-woven), Agriculture, Biomedical, and other related applications. Packaging segment is the segment that has the largest adoption and it would continue to remain so during the analysis period. However, the report suggests that the Textile and Electronics market would quickly grow due to their higher adoption in the global PLA market. Some of the raw materials that this report identifies are Corn, Sugarcane, Tapioca, and Wheat. Among these raw materials, Wheat and Tapioca are primarily used by PLA manufacturers worldwide.
This report also provides detailed information on various geographical regions that impact the PLA market. As per the report, the geographical segmentation includes Europe, North America, Asia Pacific and RoW. The report predicts Asia Pacific market to grow immensely due to large quantity of feedstock and government regulations. Hence, the report identifies Asia-Pacific region to grow quickly during forecast period.
Key players influencing the Global PLA market are also deeply recognized and analyzed by this report. Some of the key players include:
- Nova Chemicals Corporation
- Dow Chemical
- Eastman Chemical
- Nature Works
- DuPont Corporation
- Bayer AG
- Exxon Mobil Chemical
- Mitsubishi Chemical Corporation (MCC)
- China Petroleum & Chemical Corporation (Sinopec)
- Braskem
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