CLEVELAND (July 9, 10:05 a.m. ET) — U.S. demand for bioplastics will grow 20 percent annually through 2016 to reach 550 million pounds, according to a new market study.
U.S. bioplastics sales will reach $680 million in 2016, thanks to technical innovations that enhance the properties of the materials and lower their price, according to the report from Cleveland-based Freedonia Group Inc.
Biodegradable resins accounted for the vast majority of bioplastics volume in 2011, but the emergence of non-biodegradable bioresins will dramatically alter the market, according to the report. By 2021, these materials will represent more than two-fifths of volume demand, up from 13 percent in 2011.
Growth will be propelled by large-volume production of bio-based polyethylene, as well as the eventual commercialization of bio-based PET, polypropylene, and PVC.
Polylactic acid (PLA) is expected to remain the most extensively used resin in the bioplastics market through the forecast period. But bio-based polyethylene — which entered the market in 2010 — is expected to offer the best opportunities for growth through 2016, increasing rapidly from a small base.
The 240-page report “Bioplastics” costs $4,900.