Global demand for bioplastics to exceed one million tons in 2015: report
Canadian PlasticsEconomy Environment Environment Plastics Industry Economic Changes/Forecast
Spurred by preferences for sustainable materials, improved product performance, and price parity with petroleum-based plastics, the global demand for biodegradable and bio-based plastics will more than triple to more than 1.1 million tons...
Spurred by preferences for sustainable materials, improved product performance, and price parity with petroleum-based plastics, the global demand for biodegradable and bio-based plastics will more than triple to more than 1.1 million tons – valued at US$2.9 billion – by 2015, according to a new study by market research firm the Freedonia Group.
The “World Bioplastics” report concluded that bioplastics have moved past the initial phase of market introduction and are now experiencing increases in demand in virtually all parts of the world.
Gains will be fueled by a number of factors, the report said, including consumer preferences for environmentally sustainable materials, improved performance of bioplastic resins relative to traditional plastics, and the introduction of commodity plastics produced from bio-based sources.
Biodegradable plastics accounted for 90 per cent of the world bioplastics market in 2010, and “excellent” growth is forecast for the two leading biodegradable plastics – starch-based resins and polylactic acid (PLA). Both are expected to more than double in demand through 2015.
The report added that polyhydroxy-alkanoate (PHA) resins – just now entering the commercial market – will experience the fastest gains for biodegradable plastics.
Adding to the bioplastics boom, the study also noted, is the fact that price considerations will be the primary driver of bioplastic market success; rising petroleum costs will allow some bioplastic resins to be able to achieve price parity with conventional plastics by the end of the decade.
For more on the report, click on this link.