Biobased production capacity poised to soar

05/21/2015

Two years ago, nova-Institute (Hürth, Germany) published the results of the most comprehensive market study performed to date in the bioplastics field. According to estimates of the surveyed manufacturers at that time, production capacity was expected to rise to nearly 12 million metric tons by 2020. Fast forward to 2015 and that picture has changed: In the update to this study that was recently published by nova-Institute, production capacity is projected to triple from 5.1 million metric tons in 2013, or 2% share of total polymer production, to some 17 million metric tons, or 4% share of total polymer production, in 2020.

According to the updated 500-page market study, production capacity for biobased polymers will show very impressive development and annual growth rates, with a compound annual growth rate (CAGR) of almost 20%, far exceeding the projected 3 to 4% CAGR of petrochemical polymers.
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