02 December 2011 19:35 [Source: ICIS news]
HOUSTON (ICIS)--Global demand for bio-degradables and bio-based plastics will more than triple to over 1m tonnes in 2015, valued at $2.9bn (€2.1bn), according to a market research study released on Friday.
Price consideration will be the primary factor for market success of bio-plastics, and rising petroleum costs will allow some bio-plastic resins to reach price parity with conventional plastics by the end of the decade, according to Cleveland-based industry research firm, The Freedonia Group.
Consumer preferences for environmentally sustainable materials, improved performance of bio-plastic resins when compared with traditional plastics, and commodity plastics produced from bio-based sources will additionally foster rising demand.
Excellent growth is projected for the two leading bio-degradable plastics, starch-based resins and polylactic acid (PLA), expected to more than double in demand through 2015. Polyhydroxy-alkanoate (PHA) resins, which are now entering the commercial market, are expected to show the greatest gains, according to Freedonia.
However, demand for non bio-degradable bio-based resin will be the primary driver of bio-plastics demand through 2015 and beyond, driven by increasing availability of commercial volumes of bio-based polyethylene (PE), said Freedonia.
As a result, Freedonia projects demand for non bio-degradable bio-plastics to increase from 30,000 tonnes in 2010 to 1.3m tonnes in 2020.
($1 = €0.74)
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