In its recently published study on the bioplastics industry, market research institute Ceresana predicts that global bioplastic revenues will exceed $2.8 billion by 2018; an average annual growth rate of 17. 8%. Strong growth will be seen particularly in the Asia-Pacific region and in South America.
Demand in the individual types of bioplastics will also show significant regional differences. While PLA demand in North America is projected to rise by 12% per year, it will soar by almost 17% per year in the countries of the Asia-Pacific.
In 2010, demand was highest for by starch-based plastics, followed by polylactic acid (PLA). Other bio-based plastics (PHA/PHB, cellulose, PBS), as well as fossil fuel-based biodegradable plastics accounted for just less than 17% of global demand.
Right now, biodegradable plastics dominate the bioplastics market, roughly accounting for 92% of all bioplastics used. Non-biodegradable plastics based on renewable resources, however, are forecast to increase their market share from 8% in 2010 to more than 47% by 2018....