Bioplastics to make up one third of plastics market by 2025
Monday, April 21st, 2008
Bioplastics are biodegradable and can be made from a wide range of different plants. In the future genetically modified plants will need less water and reduce the costs. Bioplastics has the potential to reduce the petroleum consumption for plastic by 15 to 20 percent in 2025. Improved technical properties and innovations open new markets and applications with higher profit potentials in automotive, medicine and electronics.
When bioplastic companies change their strategy from just replacing today’s products to new applications, product conceptions and production processes with the advantage of bioplastics the profitability and saleability increase dramatically.
In 2025 Europe will count for 31 percent, USA 28 percent and Asian for 32 percent of the total markets. Asian has the advantage that genetically modified plants are easier to realize and new outlets for agriculture are faster to build up. These are some results of a new released market study by Helmut Kaiser Consultancy.
Bioplastics fast market growth of more than 8-10% per year. Bioplastics cover approximately 10-15% of the total plastics market and will increase its market share to 25-30% by 2020. The market itself is huge, it reached over 1bn US$ in 2007 and will be over 10 billion by 2020. More and more companies are entering and investing in this market. New applications and innovations in the Automotive and Electronics Industry lead to market boom. Over 500 bioplastics processing companies are already available, more than 5000 is expected by 2020.
Source: nanovip.com






