Polylactic Acid Market is Expected to Reach $5.2 Billion Globally by 2020, According to Allied Market Research
PORTLAND, Oregon, November 25, 2013 /PRNewswire/ –
Allied Market Research (http://www.alliedmarketresearch.com) today announced its
comprehensive and strategically analyzed market intelligence 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″. According to the research report, the global
Polylactic Acid (PLA) market is expected to reach $5.2 billion by 2020 growing at a CAGR
of 19.5% from 2013 to 2020. Asia Pacific will be the fastest growing market at a CAGR of
21.6% during this period whereas Europe will maintain its lead in terms of revenue till
2020, despite having a comparatively slower growth.
Get full access of the report at
“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 Sarah Clark and Ranjan Singh. “The
ongoing research on reinforcement of PLA with other materials would bring opportunities
for PLA with much improved products in future.” add the analysts.
Low-cost and easy availability of raw materials are key factors that are contributing
to the cost-effectiveness of PLA. The production costs are however, expected to further
reduce with research focused on identifying alternative sources of raw materials. On the
contrary, certain restraining factors too exist which will restrain the growth of PLA
market. “Need for industrial composting to completely degrade PLA, will act as an
important restraint” said Clark and Singh.
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The report analyzes the global polylactic acid market under categories namely
application and raw materials. The applications category, it is further segmented as per
the sector in which PLA is utilized to manufacture the final product. These are Packaging,
Textile (Woven and non-woven), Electronics, Biomedical, Agriculture, and other such
applications. Packaging has been the largest application segment for PLA and will continue
to hold lead position during the forecast period; however, textiles and electronics will
be adopting PLA more rapidly. The raw materials analyzed in this report include, Corn,
Tapioca, Sugarcane and Wheat. Tapioca and sugarcane are the primary raw materials used by
PLA manufacturers all around the world.
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On the basis of geographical regions, the market has been segmented under regions
namely North America, Europe, Asia Pacific and rest of the world. Plentiful feedstock from
agriculture and strong government incentive programs will increase opportunity for rise in
production of PLA in Asia Pacific, which will largely contribute to its faster market
The study includes an in-depth analysis of the leading market players in the market
and provides detailed company profiles of the following leading manufacturers of PLA -
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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wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides
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business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in
capturing most accurate market data and confirms utmost accuracy of our market forecasts.
Each and every data presented in the reports published by us is also extracted through
primary interviews with top officials from leading companies of domain concerned. Our
secondary data procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research