Global Lactic Acid and Poly Lactic Acid Industry 2014 to 2020

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.

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.

The report “Lactic Acid And Poly Lactic Acid (PLA) Market By Application (Packaging, Agriculture, Transport, Electronics, Textiles) Analysis And Segment Forecasts To 2020,” is available now to Grand View Research

customers and can also be purchased directly at

http://www.grandviewresearch.com/industry-analysis/lactic-acid-and-poly-lactic-acid-market

Further key findings from the study suggest:

• Global lactic acid demand was 714.2 kilo tons in 2013, which is expected to reach 1,960.1 kilo tons by 2020, growing at a CAGR of 15.5% from 2014 to 2020. Industrial applications are expected to be the largest and fastest growing segment over the forecast period; they accounted for 44.8% of the overall market in 2013, with an estimated CAGR of 19.3% from 2014 to 2020.

• Global PLA demand was estimated to be 360.8 kilo...