MarketsandMarkets: Global Lactic Acid & Poly Lactic Acid (PLA) Market is Growing at a CAGR of 18.7% and is Expected to Reach $3,831.3 Million by 2016
DALLAS, October 3, 2011 /PRNewswire/ –
The report “Global Lactic Acid & Poly Lactic Acid (PLA) Market by
Applications and Potential Opportunities (2011-2016)
defines and segments the global lactic acid and polylactic acid market with
analysis and forecasts of the global volumes and revenues for lactic acid
and PLA. It also identifies driving and restraining factors for the global
lactic acid and polylactic acid market with analysis of trends,
opportunities, burning issues, and challenges. The market is segmented and
revenue is forecasted on the basis of major geographies such as North
America, Europe, Asia Pacific, Latin America and Rest of the World (ROW).
The key countries are covered and forecasted for each geographical region.
Further market is segmented and revenues are forecasted on the basis of raw
materials, and application types.
Browse more than 100 market data tables/figures spread through 300 pages
and in-depth TOC on “Global Lactic Acid Market
Poly Lactic Acid (PLA) Market by Applications and Potential Opportunities
(2011-2016)”. Early buyers will receive 10% customization on reports.
The PLA Market
[http://www.marketsandmarkets.com/Market-Reports/polylacticacid-387.html ] is
being driven by increased sustainability and reduced dependence on oil-based
products as there is no other commercially equivalent or better bio plastic
alternative available currently. Further technical advancement in production
capabilities and enhancing properties of polymers will be fueling the
growth. PLA has been seen as an alternative for polyethylene terephthalate
(PET) due to its mechanical properties such as low impact strength,
hardness, stiffness, and elasticity. The major hurdle that is currently
inhibiting the growth of the market is supply limitations, and prices of PLA
that are more than the fossil fuel-based polymers.
The global Poly Lactic Acid Market
for was estimated to be worth $1,194.0 million in 2010 and is expected to
reach $3,831.3 million by 2016, growing at a CAGR of 18.7% from 2011 to
2016. Packaging is the largest application market for PLA, accounting for
60% of the overall market in 2010. Europe and North America are the biggest
markets for PLA; whereas Asia-Pacific is one of the fastest growing markets.
The growth in the market of Asia-Pacific is expected to be fueled by
countries such as Japan, India, China, and Thailand.
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