Grand View Research has announced the addition of "Global Lactic Acid And Poly Lactic Acid Market Analysis And Segment Forecasts 2014 to 2020" Market Research report to their Database
San Frncisco, California, USA., May 16, 2014 - (PressReleasePoint) -
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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.
• Lactic Acid Application Outlook (Volume, Kilo Tons and Revenue, USD Million; 2012 – 2020)
• Industrial • Food & Beverage • Pharmaceuticals • Personal Care • Others
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