PRN: MarketsandMarkets: Global Lactic Acid & Poly Lactic Acid (PLA) Market is Growing at a CAGR of 18.7% and is Expected to Reach $3,831.3 Million by 2016
MarketsandMarkets: Global Lactic Acid & Poly Lactic Acid (PLA) Market is Growing at a CAGR of 18.7% and is Expected to Reach $3,831.3 Million by 2016
DALLAS, October 3, 2011 /PRNewswire/ --
The report "Global Lactic Acid & Poly Lactic Acid (PLA) Market by Applications and Potential Opportunities (2011-2016)" defines and segments the global lactic acid and polylactic acid market with analysis and forecasts of the global volumes and revenues for lactic acid and PLA. It also identifies driving and restraining factors for the global lactic acid and polylactic acid market with analysis of trends, opportunities, burning issues, and challenges. The market is segmented and revenue is forecasted on the basis of major geographies such as North America, Europe, Asia Pacific, Latin America and Rest of the World (ROW). The key countries are covered and forecasted for each geographical region. Further market is segmented and revenues are forecaste! d on the basis of raw materials, and application types.
Browse more than 100 market data tables/figures spread through 300 pages and in-depth TOC on "GlobalÂ Lactic Acid Market& Poly Lactic Acid (PLA) Market by Applications and Potential Opportunities (2011-2016)".
The PLA Market is being driven by increased sustainability and reduced dependence on oil-based products as there is no other commercially equivalent or better bio plastic alternative available currently. Further technical advancement in production capabilities and enhancing properties of polymers will be fueling the growth. PLA has been seen as an alternative for polyethylene terephthalate (PET) due to its mechanical properties such as low impact strength, hardness, stiffness, and elasticity. The major hurdle that is currently inhibiting the growth of the market is supply limitations, and prices of PLA that are more than the fossil fuel-based polymers.
The global Poly Lactic Acid Market for was estimated to be worth $1,194.0 million in 2010 and is expected to reach $3,831.3 million by 2016, growing at a CAGR of 18.7% from 2011 to 2016. Packaging is the largest application market for PLA, accounting for 60% of the overall market in 2010. Europe and North America are the biggest markets for PLA; whereas Asia-Pacific is one of the fastest growing markets. The growth in the market of Asia-Pacific is expected to be fueled by countries such as Japan, India, China, and Thailand.
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