The global bioplastics market is expected to reach revenues of over US$2.8 billion in 2018, according to Ceresana Research, with annual growth rates averaging 17.8%. While Europe was responsible for about 48% of the market in 2010, followed by North America and the Asia-Pacific, the latter is expected to catch up quickly, with South America also predicted to see strong growth, led by large capacity additions in Brazil.
In 2010, starch-based bioplastics accounted for the bulk of demand, with polylactic acid (PLA) in second place. Other bio-based plastics, such as PHA/PHB, cellulose, PBS and fossil fuel-based biodegradable plastics represented less than 17% of global demand. Ceresana expects non-biodegradable plastics made from renewable feedstocks to increase their market share from the 8% seen in 2010 to over 48% by 2018.
Tags: bioplastics, Market Report, HDPE, Ethylene Glycol
Source: GTF, 2012-02-09.