Global Polylactic Acid (Pla) Market Research, Trends & Statistics Report 2015

Global Polylactic Acid (PLA) Market Is Projected To Reach USD 2.657.8 Million By 2022

In terms of revenue in 2014, the global market for polylactic acid 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.

For More Reports To similar category @ http://www.credenceresearch.com/industry/chemicals-market

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...