One more addition to the ingenious database of Research Beam is the report titled "Polylactic Acid (PLA) Market in Packaging, Textile, Agriculture, Transportation, Bio-Medical, Electronics and Others - Global Industry Size, Company Share, Growth, Trends, Strategic Analysis and Forecast, 2012 - 2020."
This deeply studied report by AMR is adept at providing business solutions to some of the major global PLA market related queries.
The report analyzes global PLA market to stand at $5.2 billion by 2020, registering a CAGR of 19.5% from 2013 to 2020. Further, the report predicts Asia Pacific region to record the highest CAGR of 21.6% during the analysis period. However, despite slower growth rate, Europe would generate highest revenue during the forecast period.
"Governments across the globe have been instrumental in imposing ban on the use of fossil fuel-based products such as plastic bags and are also providing incentives for bio-based PLA production. Moreover, the rising petrochemical prices in association with growing awareness for environment safety have been the prime contributors towards the growth of Polylactic Acid market" state AMR analysts. "The ongoing research on reinforcement of PLA with other materials would bring opportunities for PLA with much improved products in future." adds the analyst.
The report identified two important factors that contribute immensely to the growth of global PLA market, namely abundant raw materials and low production cost. Further, report suggests that the production cost will dip with discoveries of alternate source of raw materials. In terms of market restraints, analysts added, "Need for industrial composting to completely degrade PLA would act as an important restraint."
