Bioplastics industry shows dynamic growth
The results of the European Bioplastics’ annual market data update, presented today at the 14th European Bioplastics Conference in Berlin, confirm a dynamic growth of the global bioplastics industry.
The global bioplastics production capacity is set to increase from around 2.1 million tonnes in 2019 to 2.4 million tonnes in 2024, and innovative biopolymers such as PP and PHAs are driving this growth.
PHAs are in important polymer family that entered the market at a larger commercial scale, which continues to increase, with production capacities set to more than triple in the next five years.
These polyesters are bio-based, biodegradable, and feature a wide array of physical and mechanical properties.
Production capacities of PP are set to almost sextuple by 2024, due to the due to the widespread application of PP in a wide range of sectors.
Hasso von Pogrell, Managing Director of European Bioplastics, said: “In an increasingly environmentally conscious environment, the global market for bioplastics is predicted to grow by more than 15 per cent over the next five years.”
“This trend is possible thanks to the steadily increasing demand for sustainable products by both consumers and brands alike and the continuous efforts of the bioplastics industry to develop innovative materials with improved materials with improved properties and new functionalities.”