Portland, OR -- (ReleaseWire) -- 04/23/2014 -- A new 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.” by allied market research is published at Analyzefuture.com
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.
The complete report is available at: http://www.analyzefuture.com/polylactic-acid-market
Derived from renewable feedstock such as corn starch, sugarcane, wheat, tapioca roots, Polylactic Acid (PLA) is thermoplastic polyester. PLA can be used in various fields like Packaging, Textile, Agriculture, Transportation, Bio-Medical and Electronics industry are the application areas where Many companies and government regulatory bodies are focusing to find substitute to oil-based products due to environmental concerns, scarcity and volatility of prices of fossil fuels. Moreover, bio based plastics has huge potential to reduce the consumption and dependency on petroleum based feedstock and lessen negative impact on environment by reducing carbon footprints. Hence, in recent years PLA has emerged mainly as source of biodegradable plastics available in the market. Additionally, ongoing research and technical development in the field of bio-based plastics have enhanced their properties such as high temperature resistance, which increases scope of its application market. Few international manufacturers trying hard to meet rapidly rising demand for bio-based plastics as PLA market is facing supply crunch. Thus, it is anticipated that the global Polylactic Acid market will grow exponentially.
Low-cost and easy availability of raw materials are important 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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Table Of Contents:
3.Key Findings: PLA Market Study
5.Global PLA Market By Application
6.PLA Production and Raw Materials
7.PLA and Geographic Markets
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