Global Polylactic Acid Market 2017-Industry Growth Analysis, and Forecast To 2022 – by Credence Research
In terms of revenue in 2014, the global market for polylactic acid Market was
calculated to be USD 825.0 million and is projected to reach USD 2,657.8
million by 2022, growing at a CAGR of 16.3% from 2015 to 2022. In 2014, in terms
of volume the market demand for polylactic acid was 375.0 kilo tons and is
projected to reach 1,031.1 kilo tons by 2022 at a CAGR of 14.0% during the
forecast period.
Browse Full Report At http://www.credenceresearch.com/report/polylactic-acid-market
Rising demand from various end use
applications along with expanding application use of polylactic acid is one of
the major factor triggering the market demand. Moreover, rising awareness about
the properties and uses of PLA is another factor contributing towards market
growth. However, volatility in the prices of raw materials is one of the major
factor restraining the market growth. Untapped and emerging economies provides
huge market potentials.
By applications, in 2014, packaging
segment accounted for major share of the pie in terms of volume and revenue and
will maintain their dominance in the future. It is projected to grow at a CAGR
of 14.5% from 2015 to 2022 in terms of volume. Construction materials and
catering segments are projected to witness fastest growth rate during the
forecast period from 2015 to 2022. Technical materials and agriculture segments
are projected to witness moderate growth rate during the forecast period.
Europe is the largest market for PLA
followed by North America. In 2014, Europe accounted for 37% share of the
market pie. It is projected to maintain its dominance due to high demand and
increasing environmental concerns. Europe was followed by North America and is
projected to grow at a CAGR of 16.4% from 2015 to 2022 in terms of revenue.
Availability of raw material in abundance is the major driver of PLA in this
region. Asia Pacific is projected to be the fastest growing market due to
rising awareness supported by high spending power. RoW regions are projected to
witness average growth rate during the forecast period.
Synbra, Nature Works, Pyramid, Uhde
Inventa-Fischer, Teijin and Hisun are the major manufacturers of PLA.
·
·
About Us:
Credence Research is a worldwide market research and
counseling firm that serves driving organizations, governments, non-legislative
associations, and not-for-benefits. We offer our customers some assistance with
making enduring enhancements to their execution and understand their most
imperative objectives. Over almost a century, we’ve manufactured a firm
extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more
than 15 research consultants and almost 100 research and information
professionals.
Our customers mirror our worldwide nature. Around 45% are
in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East
and Africa.
Our firm is intended to work as one. We are a solitary
global research organization united by a solid arrangement of qualities,
concentrated on customer effect.
What we do
We serve customers at each level of their organization, in
whatever limit we can be most helpful, whether as a trusted counsel to top
management or as a hands-on mentor for forefront representatives. For each
engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering
functional and persevering results, and preparing our customers to develop and
lead. We join forces with customers to place suggestions into practice. Our
research specialist work straightforwardly with customers over long stretches
to create workforce aptitudes, drive operational change, and apply new working
strategies.
Latest
Report
Contact:
Name: Chris Smith
Designation: Global Sales Manager
Ph: +1-800-361-8290
Post a Comment