Sep 22 2010
According to a new technical market research report, BIOPLASTICS: TECHNOLOGIES AND GLOBAL MARKETS (PLS050A) from BCC Research, the global market for bioplastics is expected to reach nearly 572,000 metric tons in 2010, and is expected to increase to more than 3.2 million metric tons in 2015, for a 5-year compound annual growth rate (CAGR) of 41.4%.
The largest segment of the market is North America, which is expected to reach nearly 1.5 million metric tons in 2015, after increasing at a CAGR of 41.4% from the estimated 2010 total of more than 258,000 metric tons.
The second-largest segment, Europe, is expected to increase from more than 175,000 metric tons in 2010 to nearly 754,000 metric tons in 2015, at a CAGR of 33.9%.
The Asia-Pacific segment of the market is projected to reach more than 592,000 metric tons in 2015, after rising at a CAGR of 45.9% from 89,700 metric tons in 2010.
The South American segment is expected to rise at a healthy CAGR of 53.2%, from 44,460 metric tons in 2010 to nearly 375,000 metric tons in 2015.
Bioplastics are plastics that are made from renewable resources, such as food crops or biomass. The terms “bioplastics” and “biodegradable plastics” have been used interchangeably, but there is a difference between the two types of polymers.
Market forces, especially increasing focus on environmental threats such as global warming and disposal of products containing toxic materials, have strongly driven development and early use of these materials.
In order to maximize market impact, there is now a growing trend to compound bio-based plastics with oil-based plastics to extend their reach into markets for durable products used in cars, cell phones, and elsewhere. The focus has shifted to total carbon footprint, and away from contribution to the solid waste stream.
Due to the growing concern about climate change and negative health effects of many existing materials, this report will be of interest to anyone who sells, designs, or manufactures products that are, or could be, made from polymeric materials. This report also will be of value to individuals who are helping to establish public policy about issues that include limits on the use of plastics packaging and potential limits on use of vinyl compounds in medical applications.