With low oil prices, how are bioplastics faring?

The results of European Bioplastics’ annual market data update, presented at the 10th European Bioplastics Conference in Berlin, have confirmed the positive growth trend of the global bioplastics industry. “The market is predicted to grow by more than 350 percent in the mid-term,” said François de Bie, Chairman of European Bioplastics.

The data, compiled in cooperation with IfBB (Institute for Bioplastics and Biocomposites) and nova-Institute, shows that the global bioplastics production capacity will increase from around 1.7 million tonnes in 2014 to approximately 7.8 million tonnes in 2019. Bio-based, non-biodegradable plastics, such as bio-polyethylene and bio-PET, are the main drivers of this growth. Production capacities of biodegradable plastics, such as PLA, PHA, and starch blends, are also growing steadily, nearly doubling until 2019.

Packaging remains the single largest field of application for bioplastics, with almost 70% percent of the total bioplastics market. “The data illustrates an important trend to make packaging more resource efficient, which is driven by a growing consumer demand for products with a reduced environmental impact,” explained de Bie.

Asia will further expand its role as major production hub with more than 80% of bioplastics produced in Asia by 2019. Europe will be left with less then 5% of the production capacities. “Against this background, the implementation of a European policy framework that secures equal access to bio-based resources, facilitates market entry for bio-based products, and accounts for the role of compostable plastics for efficient waste stream management is of paramount importance. We urge EU legislators to consider the immense environmental, economic growth, and job creation potential of our industry in the forthcoming Circular Economy Package,” concluded de Bie.