Our Green chemicals Market Research reports cover global growth in the Polylactic Acid and global bio-based chemicals market. These markets are looking in great shape. The Polylactic Acid market is likely to advance with a compounded annual growth rate of 20.8% in the future. It has been observed during recent years that the preference in application has changed from lactic acid to Polylactic acid due to its environment friendly characteristics. It supports our green chemicals market research analysis strong as the demand for PLA is gaining steam due to its aggressive application in areas such as food packaging films, electronic appliances and automotive parts. On the back of this, the Polylactic Acid market is expected to be a million dollar opportunity. It can also stretch to a $5010.7 million mark by 2019.
Going deeper in our green chemicals industry growth analysis we also highlight the market trends in the bio-based chemicals segment. It is also a solid growth market which as per estimates has touched production of 50 million tons. This paints a bright image for the market in future; the demand is clearly increasing and if it goes on increasing well, the global chemical industry might take a roller coaster ride in the coming years and surprisingly the bio-based product is expected to contribute $10-$15 billion to the global green chemical industry growth.
On the other hand, the growing shale gas segment is also a major contributor in driving the demand for the bio-based chemicals. A jump in the crude oil prices has led people to go for natural gas which is available cheaply. The similar attributes between shale gas and biomass feedstock has also opened doors for aggressive usage of bio-chemicals in various segments such as automotive. This is also likely to trigger green chemical market growth in future.