U.S. demand for bioplastics to grow by 20 per cent annually to 2016: report

Demand for bioplastics in the U.S. will climb at a 20 per cent annual pace through 2016 to 550 million pounds, valued at US$680 million, according to a new report from market research firm The Freedonia Group.

Polylactic acid (PLA) is expected to remain the most extensively used resin in the bioplastics market through the forecast period, the “Bioplastics to 2016” report forecasts. Bio-based polyethylene – which entered the market in 2010 – is expected to offer the best opportunities for growth through 2016, increasing rapidly from a small base. 

“Although they have achieved a considerable degree of commercial success, bioplastics remain in an early stage of development, representing only a small niche within the overall plastics industry,” the report noted. “Going forward, technical innovations which enhance the properties of bioplastics and lower their price will drive growth.”   

For more on The Freedonia Group’s “Bioplastics to 2016” report, click on this link.