Polymers for the Circular Economy: Ceresana Study on the Global Market for Bioplastics
Ceresana has analyzed the dynamically growing global market for "green" polymers for the sixth time: Analysts expect revenues from bioplastics to rise to approx. USD 8.1 billion by 2030.
Key Role for the EU Circular Economy
Plastics and packaging are central product groups for the "Circular Economy Action Plan" published by the EU Commission in spring 2020 as part of the "Green Deal". In order to overcome the throwaway society and reduce the amount of waste, the EU Commission is planning, among other things, a plastic tax, restrictions on microplastics and the promotion of plastic recycling. By the end of 2021, new "framework legislation for bio-based, biodegradable and compostable plastics" should clearly regulate and define what is meant by these terms and how bioplastics should be disposed of.
Biobased and Biodegradable Plastics
Two groups of materials are considered to be "bioplastics":
Greatest Growth in Polylactic Acids and Starch
Biodegradable plastics, for example polylactic acids (PLA) and starch polymers, reached a market share of 65% of the total bioplastics market in 2020. For this product group, Ceresana expects further growth of 10.2% per year until 2030. For biobased plastics, such as polyethylene, PET or PA, which are not biodegradable, growth is expected to be lower with 7.5% per year. The most important sales market for bioplastics in 2020 was the packaging industry - more than 58% of all bioplastics were processed here. Ceresana expects the highest growth in the market for bags and sacks with 11.1% per year.
Further information about the market study (6th Edition): https://www.ceresana.com/