Polylactic Acid (PLA) is thermoplastic polyester derived from renewable feedstock such as corn starch, sugarcane, wheat and tapioca roots. PLA products contain bio-based renewable constituents. The global PLA market is expected to reach a market size of $5.2 billion by 2020, growing at a CAGR of 19.5% during 2013 to 2020. Limited fossil fuel resources and rising petrochemical price are the key factors driving the market. Limited fossil fuel resources, is an important reason for governments and companies to find substitutes to crude oil based products. Growing environmental concerns and government regulations is further assisting in adoption of PLA by end users of final products as well as manufacturers in industries such as textile, packaging, transportation, electronics, etc.
However, there are certain factors that are hindering the growth of the market. Though PLA is a bio-based material and can be degraded completely, it requires specific industrial composting system to get completely degraded. Moreover, there are other renewable packaging alternatives hitting the market, for example agricultural fiber products produced using natural fibers such as bamboo, bagasse, bulrush and palm fiber. These alternatives might restraint the market growth. Reinforcement of PLA with other materials creates huge opportunities for future. As natural fibers are low cost and degradable, it’s reinforcement with PLA leads to a material which is economical as well as ecological. New technologies are used to reinforce fiber in PLA so as to give it more strength and stiffness as well as many other features suitable for specific applications.
Key Benefits
The report offers in-depth analysis of the global PLA market, segmented into raw materials, applications and geographies
- Quantitative analysis of the current market and estimations through 2013-2020
- Analysis of the market factors in various geographic regions that help to understand business opportunities in specific regions
- Identification of key investment pockets in various segments of the market
- Identification and analysis of key strategies followed by the key market players
- Identification of key application segments based on future growth prospects
- Top factors that are expected to affect the growth of the market along with impact analysis of every such factor
- Analysis and evaluation of market trends to provide deep-dive intelligence into every market segment
- Competitive analysis of key market players that would help to effectively plan and execute business plans
- Micro level analysis based on application, service and geography
Key Audiences
- Chemical Industry manufacturers and dealers
- Plastic and polymer manufacturers
- Electronic device manufacturers
- Agricultural research institutes
- Textile industry manufacturers
- Bio-medical industry manufacturers and dealers
More Information
– http://www.alliedmarketresearch.com/polylactic-acid-market
Source
Allied Market Research, press release, 2013-11.
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