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Global Polylactic Acid Market to 2022 Analysis,Segment,Trends and Forecasts:Credence Research

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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 dem
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.
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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.
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http://www.pdfdevices.com/global-polylactic-acid-pla-market-is-projected-to-reachusd-2-657-8-million-by-2022-credence-research/
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