EU policy support to drive bioplastics growth – US Cereplast

18 August 2010 17:32  [Source: ICIS news]

TORONTO (ICIS)--European bioplastics production could more than triple within 10 years on the back of EU government support measures, US-based bio-plastics firm Cereplast said on Wednesday.

There are "numerous possibilities there as the European market is growing at a pace that is outpacing supply”, said Cereplast CEO Frederic Scheer.

"This is due to stricter regulations, such as those that ban the use of traditional plastic bags, and increasing environmental concerns over the impact of oil-based plastics," Sheer said.

Currently, about 40% of Cereplast’s exports to go Europe.

Cereplast, citing an industry study by trade group European Bioplastics, said by 2020 bioplastics’ market share in Europe could rise to 5.0%, from its current 0.5%, “if effective policy support measures are put in place”.

The company pointed to initiatives in Europe to work on a common industry position towards the European Commission in setting ambitious but realistic indicative targets for the different bio-based product categories such as bio-lubricants and bio-polymers.

Cereplast media officials did not respond to a call requesting additional information.

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By: Stefan Baumgarten
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