Allied Market Research published a detailed report on the global polylactic acid market.
Portland, OR -- (SBWIRE) -- 09/06/2017 -- Allied Market Research published a detailed report on the global polylactic acid market. Polylactic Acid (PLA) is a biodegradable and compostable thermoplastic aliphatic polymer produced using crops such as corn, sugarcane, and tapioca. According to the expert analysis, the polylactic acid market is expected to accrue $5.2 billion by 2020. The market was valued at $305.6 million in 2014 and will show a compound annual growth rate of 19.5% during the forecast period 2013–2020.
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The information on the top investment pockets in the PLA application market enables the investors to take informed decisions and invest their money in the most lucrative and rewarding options. PLA is widely used in packaging applications of consumer products that have a short shelf life such as food and beverages. The major factor propelling the growth of the PLA market is the ban on plastic bags in the regions of Africa, Asia, Europe and the Middle East and also in America. PLA is an effective alternative to the conventional polymers since they are sustainable and biodegradable. The raw materials required are cheap and available in abundance. This increases the production capacity of manufacturers due to the low cost of production. Increasing awareness regarding the environment, emission of greenhouse gases, and the disposal of waste materials have led to the adoption of PLA materials. Owing to the rising prices of petrochemicals and the depletion of fossil fuel resources, the PLA market a rapid growth will be witnessed in the PLA market. However, industrial composting is required in the case of PLA. For PLA to degrade, specific temperature and environment are needed. The normal duration for the degradation of PLA ranges from 10 to 1000 years. Another limiting factor is the availability of fiber alternatives.
A wide range of opportunities is available due to the genetic modification of corn, decrease in hazardous remnants and gases, reinforcement of PLA with other materials, and better PLA features. The case studies carried out on the latest developments and innovations implemented in the market are a part of the detailed report.
The global PLA market is segmented by the application type, production and raw materials, and the geography. Packaging, textile, agricultural, biomedical, and the electronics industries make use of PLA owing to its added benefits over the conventional materials. The increasing expenditure related to health care coupled with the features of PLA such as bio-resorbability and mechanical strength have propelled the growth of the PLA market in the medical application segment. The raw materials used for the production of PLA are corn, tapioca, sugarcane, and other sugars. The report analyzes the presence of the market in the regions of North America, Europe, Asia-Pacific, and LAMEA.
The report has profiled the leading players in the market with the company overview, business performance, and their winning strategies. The SWOT analysis of the leading players enables the potential investors to gauge the current market scenario and take informed decisions. The key players include Nova Chemicals Corporation, Nature Works LLC, ExxonMobil Corporation, Eastman Chemical Company, DuPont Corporation, Dow Chemicals Corporation, Bayer AG, China Petroleum and Chemical Corporation, Mitsubishi Chemical Corporation, and Braskem.
Key points of the report
- The report provides a quantitative and qualitative analysis of the global polylactic acid market for the forecast period 2012–2020.
- In 2014, the packaging garnered the highest share of 65.2% in the global market.
- Largest producer of PLA, North America, accounted for about 49.6% of the global consumption in 2014.
- In the forecast period, the biomedical application segment is estimated to grow at the highest CAGR of 22.4%.
- The Chinese PLA market is anticipated to grow at the fastest rate during the period 2012–2020.
Access full summary at: https://www.alliedmarketresearch.com/polylactic-acid-market