KONSTANZ, GERMANY (Dec. 28, 12:15 p.m. ET) – The global bioplastics market will grow an average of 17.8 percent annually to reach $2.8 billion in sales in 2018, according to a report from Ceresana Research.
Europe is currently the largest market for bioplstics, accounting for 48 percent of global demand in 2010, according to the Konstanz-based research firm. Over the next eight years, however, consumption and production will shift to the Asia-Pacific and South America.
In 2010, most demand was for starch-based plastics, followed by polylactic acid. Biodegradable plastics accounted for about 92 percent of the 2010 bioplastics total.
According to the report, however, non-biodegradable bioplastics will grow to more than 47 percent of the bioplastics market by 2018.
Bags & sacks and loose-fill packaging will continue to be key markets, but demand will grow faster from packaging & films, automotive and electronics applications.
The 450-page report costs 1,895 euros.