BCC Research of the USA says in a new report it expects the global market for bioplastics to reach nearly 572,000 tonnes in 2010,and to increase at a 5-year compound annual growth rate (CAGR) of 41.4% to reach 3.2million tonnes in 2015.
Its definition of bioplastics is “plastics that are made from renewable resources, such as food crops or biomass”.
North America is the largest regional market for bioplastics. The region is expected to need nearly 1.5 million tonnes of bioplastics in 2015, after increasing at a CAGR of 41.4% from the estimated 2010 total of more than 258,000 tonnes.
The second-largest segment, Europe, is expected to increase from more than 175,000 tonnes in 2010 to nearly 754,000 tonnes in 2015, at a CAGR of 33.9%.
The Asia-Pacific region is projected to reach more than 592,000 tonnes in 2015, after rising at a CAGR of 45.9% from 89,700 tonnes in 2010.