Lactic Acid And Poly Lactic Acid (PLA) Market By Application (Packaging, Agriculture, Transport) Expected to Reach USD 4,312.2 Million And USD 2,169.6 Million By 2020

PLA Market Size - $793.9 mn in 2013, Market Growth - CAGR of 15.8%, Market Trends - Increasing consumer preference for green packaging Report By Grand View Research. View Complete Report - http://www.grandviewresearch.com/industry-analysis/lactic-acid-and-poly-lactic-acid-market.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friendRepost This

Grand View Research

Growing demand for bioplastics is expected to drive the global market over the forecast period

San Francisco, California (PRWEB) May 14, 2014

The global poly lactic acid (PLA) market is expected to reach USD 2,169.6 million by 2020, according to a new study by Grand View Research, Inc. The global lactic acid market is expected to reach USD 4,312.2 million by 2020, fueled by growing PLA demand. Increasing bioplastics demand coupled with growing adoption of PLA for packaging products is expected to drive the market over the next six years. Favorable regulatory scenario for environmentally friendly products is also expected to give impetus to the global market over the forecast period.

Increasing crude oil prices are expected to drive PLA demand, since majority of plastics are manufactured using petroleum-based resources. PLA is compostable and environmentally friendly; therefore, it proves ideal for food packaging and other consumer products. Inferior performance of PLA products as compared to conventional plastics may pose a barrier to industry growth over the forecast period. Changing consumer preferences and increasing demand for personal care is expected to enhance lactic acid market penetration in skin care applications used for anti-acne, skin lightening and anti-aging products.

The report “Lactic Acid And Poly Lactic Acid (PLA) Market By Application (Packaging, Agriculture, Transport, Electronics, Textiles) Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/lactic-acid-and-poly-lactic-acid-market.

Inquiry Before Buying @ http://www.grandviewresearch.com/inquiry/358

Further key findings from the study suggest:

  • Global lactic acid demand was 714.2 kilo tons in 2013, which is expected to reach 1,960.1 kilo tons by 2020, growing at a CAGR of 15.5% from 2014 to 2020. Industrial applications are expected to be the largest and fastest growing segment over the forecast period; they accounted for 44.8% of the overall market in 2013, with an estimated CAGR of 19.3% from 2014 to 2020.
  • Global PLA demand was estimated to be 360.8 kilo tons in 2013, which is expected to reach 1,205.3 kilo tons by 2020, growing at a CAGR of 18.8% from 2014 to 2020. Packaging accounted for 59.6% of the overall PLA market in 2013, and is expected to remain the dominant application segment over the forecast period. Rigid packaging was the largest contributor to overall PLA demand in packaging in 2013. Textiles are expected to be the fastest growing segment, at a CAGR of 17.5% in terms of revenue from 2014 to 2020.
  • North America is expected to remain the largest market for lactic acid through the forecast period, and was valued at USD 444 million in 2013. Asia Pacific is expected to grow at the fastest rate of 19.5% in terms of revenue from 2014 to 2020. This region is also expected to be the fastest growing market for PLA at an estimated CAGR of 17.9% from 2014 to 2020.
  • Industry participants include NatureWorks LLC, Purac, Galactic, Pyramid Bioplastics (a collaboration of Pyramid Technologies and German Bioplastics), BASF, Synbra, etc. Companies operating in the market target product innovation as well as strategic alliances for gaining market share.

Request Free Sample of This Report @ http://www.grandviewresearch.com/industry-analysis/lactic-acid-and-poly-lactic-acid-market/request

For the purpose of this study, Grand View Research has segmented the global lactic acid and PLA market on the basis of application and region:

  •      Lactic Acid Application Outlook (Volume, Kilo Tons and Revenue, USD Million; 2012 – 2020)
            • Industrial
            • Food & Beverage
            • Pharmaceuticals
            • Personal Care
            • Others
  •      PLA Application Outlook (Volume, Kilo Tons and Revenue, USD Million; 2012 – 2020)
            • Packaging
            • Agriculture
            • Transport
            • Electronics
            • Textiles
            • Others
  •      Lactic Acid and PLA Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2012 – 2020)
            • North America
            • Europe
            • Asia Pacific
            • RoW

Browse All Renewable Chemicals Market Reports @ http://www.grandviewresearch.com/industry/renewable-chemicals

Latest Publicaion By Grand View Research:

Polyphenols Market Analysis By Product (Grape Seed, Green Tea and Apple), By Application (Functional Beverages, Functional Food and Dietary Supplements) And Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/polyphenols-market-analysis) The global market for polyphenols is expected to reach USD 1,025.7 million by 2020, according to a new study by Grand View Research, Inc. Increasing geriatric population mainly in U.S., Western Europe and Japan is expected to drive polyphenols demand over the forecast period. Growing consumer awareness regarding health benefits offered by polyphenols is also expected to augment the demand, especially in relatively developed markets.

Medical Gases Market By Product (Oxygen, Nitrogen, Helium, Laser Gas, Lung Gas, Aerobic, Anaerobic Mixtures, Helium Oxygen Gas Mixtures, Medical Air, Carbon Dioxide-Oxygen, Laser Gas, Lung Gas, Ethylene Oxide), By Equipment (Manifolds, Outlets, Medical Air Compressors, Masks) Analysis And Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/medical-gases-market) The global market for medical gases and equipment is expected to reach USD 10.52 billion by 2020, according to a new study by Grand View Research, Inc. The implementation of industry friendly regulations such as the FDA Safety and Innovation Act in the U.S. and growing patient awareness levels are expected to drive market growth over the next six years. Growing global geriatric population base coupled with increasing prevalence of target diseases such as chronic obstructive pulmonary diseases (COPD) is also expected to enhance market demand over the forecast period.

About Grand View Research

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058