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The polylactic acid market report defines and segments the concerned market with analysis and forecast of revenue. It is estimated to grow to $851.5 million by 2019 at a CAGR 22.8%.
Browse through the TOC of Polylactic Acid Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Polylactic acid is a biodegradable thermosetting polymer, which is produced from lactic acid. It is basically used an intermediate to manufacture plastics. The packaging segment accounts for a major share of this market. Bio-based packaging is primarily used in food & beverage packaging, medicine packaging, and others. The use of bio-based packaging offers better value in terms of functionality, quality, and performance.
Agricultural wastes and natural additives are used to manufacture fibers, which in turn are used in biopolymer formulation. These fibers are used for food & beverage packaging. This factor may act as a restraint for the growth of PLA market.
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North America was the largest PLA market in 2014. The region has potential for this product as various environmental regulations restrict the use of petroleum-based products, thus promoting the use of bio-based feedstock to manufacture chemicals. In addition, rising awareness regarding the harmful effects of petroleum-based products has led consumers towards bio-based products, which will also act as a driver for this market.
The report covers the global PLA market which is segmented on basis of application and geography. The applications covered in the report include packaging, fibers, injection molding, and others. Regions covered in the report are North America, Asia-Pacific, and RoW.
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