Bioplastics: New Market Study by Ceresana
Within their new market study Ceresana Research analyzes the booming bioplastic industry. The market research institute expects the global bioplastics market to reach revenues of more than USD 2.8 billion in 2018 – corresponding to average annual growth rates of 17.8%. High expectations will be placed on the bioplastic industry in future. Bioplastics are supposed to contribute to protecting the climate, provide a solution for the waste issue, reduce the dependence on fossil raw materials, and improve the image of plastic products. With a roughly 48% share of global demand, Europe was the largest outlet for bioplastics in 2010, followed by North America and Asia-Pacific.
Over the next eight years, shares in demand of the individual world regions will shift significantly. Ceresana forecasts two regions to considerably influence the bioplastics market: Asia-Pacific and South America.
Demand trends of the individual bioplastic grades show significant regional differences.
In 2010, most demand was accounted for by starch-based plastics, followed by polylactic acid (PLA). Other bio-based plastics (PHA/PHB, cellulose, PBS) as well as fossil-based biodegradable plastics accounted for just less than 17% of global demand. Accordingly, biodegradable plastics are currently dominating the bioplastics market with a roughly 92% share. Non-biodegradable plastics based on renewable resources are forecasted to increase their market share from 8% in 2010 to more than 47% in 2018.
The new study can be purchased at Ceresana’s website.
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