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Global bioplastics market to reach $2.8 billion in 2018 - Ceresana

Source:Ceresana Research Release Date:2011-12-15 556
Plastics & Rubber
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The market research institute Ceresana Research expects the global bioplastics market to reach revenues of more than US$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. Because of dynamic growth in consumption and production, Asia-Pacific will expand its share of bioplastics demand. As a result, Asia-Pacific will almost draw level with Europe and North America. In addition, South America will see strong growth, mainly as a result of massive increases in production in Brazil.

 

Demand trends of the individual bioplastic grades show significant regional differences. While PLA demand in North America is projected to rise by 12% per year by 2018, it will soar by almost 17% per year in Asia-Pacific.

 

Good Prospects for Bioplastics

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.

 

Technical progress in production and significant growth in capacities will allow manufacturers to lower prices and therefore to further increase the competitiveness of bioplastics against conventional plastics. New products provide additional growth perspectives: The extended product range allows for using bioplastics in an increasing number of application areas. The report from Ceresana explains how product innovations, new production capacities, legislative changes, and growing environmental awareness will influence the market.

 

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