Cereplast, Inc., a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics announced today it is strongly positioned to meet soaring demand for bioplastic resins in the Asia-Pacific market. The region is forecasted to gain the highest global growth rate of 25.7% during the period of 2011 through 2016, according to a 2013 report by Research and Markets. Cereplast provides the global market with its innovative range of bioplastic resin designed for multiple purposes.
Cereplast recently generated $450,000 in India for its bioplastics resins and new contracts are expected going forward. These contracts are indicative of the expected surge in market growth. Key factors driving increased volume in the bioplastic market include escalating fossil fuel prices, the effort to decrease dependence on fossil fuels, wider consumer acceptance of plastic alternatives, rise in demand for eco-friendly packaging materials, and the need to better protect and preserve the environment from the perils of plastics. Each has resulted in regulations banning the use of plastic bags in various countries across the globe.
Given the surge and versatility of petroleum prices, Cereplast Sustainables® resins provide a competitive pricing structure for products traditionally made with fossil fuel-based plastics, given the surge in petroleum prices. Cereplast Sustainables® can replace up to 95% or more of the petroleum content used in traditional plastics and provide a lower carbon footprint for durable applications such as automotive, consumer goods, fashion accessories, consumer electronics, medical packaging, cosmetics packaging, toys, furniture, office supplies, home accessories and construction. The Cereplast Sustainables resins include the Cereplast Bio-polyolefins® grades, as well as Ethylene Acrylate, Polylactic Acid and Polypropylene-filled biobased resins.
Cereplast Compostables® are commonly used for the manufacturing of single use disposables and packaging materials (e.g. cups, straws, cutlery and bags). Demand for these types of products are typically driven by regulations intended to combat pollution issues and safeguard the environment.
Cereplast’s intellectual property portfolio consists of more than 20 patents and patent applications in the United States and worldwide.
About Cereplast, Inc.
Cereplast, Inc. (OTCQB:CERP) designs and manufactures proprietary biobased, sustainable bioplastics which are used as substitutes for traditional plastics in all major converting processes – such as injection molding, thermoforming, blow molding and extrusions – at a pricing structure that is competitive with traditional plastics. On the cutting-edge of biobased plastic material development, Cereplast now offers resins to meet a variety of customer demands. Cereplast Compostables® resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables® resins combine high biobased content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging.
Source: Cereplast, Inc., press release, 2013-09-10.