SAN FRANCISCO, July 7, 2015 /PRNewswire/ --
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.
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Browse full research report with TOC on "Lactic Acid And Poly Lactic Acid (PLA) Market Analysis By Application (Packaging, Agriculture, Transport, Electronics, Textiles) And Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/lactic-acid-and-poly-lactic-acid-market
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.
Further key findings from the study suggest:
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/renewable-chemicals
For the purpose of this study, Grand View Research has segmented the Lactic Acid And Poly Lactic Acid (PLA) Market on the basis of application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, 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 healthcare.
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