Bioplastics demand reach $2.9 billion by 2015

Bioplastics demand to reach $2.9 billion by 2015

11:53 PM, 9th February 2012
Bioplastics demand to reach $2.9 billion by 2015

ROCKVILLE, US: The global demand for biodegradable and bio-based plastics will more than triple to over one million metric tonne in 2015, valued at $2.9 billion, said a Freedonia Group report. Bioplastics have moved past the initial phase of market introduction and are now experiencing robust increases in demand in virtually all parts of the world. Price considerations will be the main driver of bioplastic market success, suggested the report.

Excellent growth is forecasted for two leading biodegradable plastics, starch-based resins and polylactic acid (PLA), both of which will more than double in demand through 2015. Non-biodegradable biobased resins will be the primary driver of bioplastics demand through 2015.

Among region growth, Asia/Pacific region will be the fastest-growing market, while Brazil will become the leading producer. Western Europe was the leading consumer of bioplastics in 2010, which has seen starch-based resins used in biodegradable bags as particularly popular in the region. North America was another major market for bioplastics in 2010. However, the fastest gains in bioplastics demand through 2015 will be seen for the Asia/Pacific region, driven by robust growth in Japan and China, as per the report.

Currently, world bioplastics production is heavily concentrated in the US and Western Europe. This will change dramatically by 2015, as production of bio-based polyethylene ramps up in Brazil, making the country the world's leading producer of bioplastics. Furthermore, China and Thailand plan to open over 100,000 metric tons of new bioplastics capacity by 2020, making these countries major players in the global market, the study mentioned.

(C) WOC News

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