Ceresana predicts strong growth in the global bioplastics market up to 2021, in its recently released Bioplastics Market Study, 3rd Edition.
According to the Germany-based market research company, plastics based on renewable resources are “increasingly becoming a real alternative to petrochemical products”.
Ceresana CEO Oliver Kutsch says: “Even in times of economic difficulties, bioplastics possess an enormous potential. Until 2021, demand is likely to increase by 18.9% per year.”
Global demand may be developing at decelerated growth rates when compared to previous years, the market researcher says, but: “Uninterrupted advance in the development of the raw material base and property profiles lead to an ever broader range of possible applications.”
Progress in production and the significant expansion of capacities enable manufacturers to lower prices and therefore to further increase the competitiveness of bioplastics, the company adds.
In its overview if the new study, Ceresana says Europe accounted for “more than one third of total global bioplastics consumption in 2013”.
The company expects Europe to retain the lead in research and development, and to continue as the largest market for “several years to come”, with Asia-Pacific and a number of South American countries likely to “catch up significantly”.
Although bioplastics “still account for only a small share of the plastics market as a whole”, the packaging industry remains the most important sales sector, Ceresana says, using “a remarkably large amount of bioplastics””, especially in the food packaging subsegment.
The company forecasts the highest growth rates for bottles made from bioplastics, which are “becoming more and more popular among manufacturers of beverages and detergents”.
