Home >> News >> Business >> Polylactic Acid (PLA) Market Is Projected To Reach USD 2.657.8 Million By 2022

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

The purpose of the report is to illustrate the state of the market of Specialty Fats and Oils, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.

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Market Insights

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.

Why was the report written?

This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Specialty Fats and Oils buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.

What is the current market landscape and what is changing?

Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.

The report on the market of Polylactic Acid (PLA) contains:

Analysis and forecast of Specialty Fats and Oils market dynamics;

Analysis of domestic production, market shares of the main market players;

Analysis of exports and imports;

Analysis of factors, leading the development of the Specialty Fats and Oils market;

Assessment and forecast of Specialty Fats and Oils market development;

Financial and business profiles of the leading companies in the Specialty Fats and Oils industry.

Scope

– Up to date working Specialty Fats and Oils data by major regions in the world, the forecast of planned capacity additions by 2026

– The annual breakdown of capital expenditure spending on proposed Specialty Fats and Oils for the period 2018 to 2026

– Planned Specialty Fats and Oils additions and capital expenditure spending by key countries and companies across the world

– Planned capital expenditure spending on new Specialty Fats and Oils projects by region, key countries, and companies

– Details of major planned Specialty Fats and Oils projects in the world up to 2026

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