Global Volume for Bioplastics to Reach Nearly 6 Billion Metric Tons in 2019
Wellesley, Mass., (PRWEB) June 16, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, GLOBAL MARKETS AND TECHNOLOGIES FOR BIOPLASTICS , the global market volume for bioplastics is expected to grow to nearly 6 billion metric tons by 2019, with a five-year compound annual growth rate (CAGR) of 32.7%. Asia, second only to the Americas in terms of market share, is forecast to climb at a significant 32.2% CAGR.
Over the past five years, support from powerful companies such as Coca-Cola, H.J. Heinz, Ford, AT&T, and Toyota is putting real wind in the sails of the bioplastics industry. Growth in this market is being advanced by the drive to reduce dependency on petroleum as a feedstock, spurred by price volatility and imminent environmental concerns, including sustainability and global climate change.
The Americas, by far the dominant region in the overall market, is expected to reach 3.3 billion metric tons in terms of market volume by 2019, registering a tremendous 36.9% CAGR.
Meanwhile, the Chinese government has thrown its support behind agricultural development in support of areas such as bioplastics as a means of propping up economic stability in its rural regions, as well as to address its own pressing environmental concerns. As a result, Asia, the second largest market, is expected to surge to 1.3 billion metric tons in 2019. Thailand and Brazil are also emerging as bioplastic-producing powerhouses.
“Bioplastics still face significant challenges, including costs, materials’ performance and design inertia," says BCC Research plastics analyst Jason Chen. “In addition, growing crops for plastic causes a great deal of land conversion, affects the price of food, and uses a considerable amount of fertilizer that can pollute waterways such as the Mississippi River.”
GLOBAL MARKETS AND TECHNOLOGIES FOR BIOPLASTICS provides an overview of the global market for bioplastics and related technologies. It includes analyses of global market trends, with data from 2012 and 2013, estimates for 2014, projections of CAGRs through 2019, and profiles of key companies in the industry. The report focuses on bioplastics rather than biodegradable plastics. With bioplastics, the focus is on their origin, or the source of the carbon. Bioplastics, as a rule, come from renewable resources such as crops, biomass or algae. With biodegradable (also called compostable) plastics, the focus is on end-of-life or disposal, independent of carbon source standards. BCC Research defines a fully biodegradable polymer as a polymer that is completely converted by microorganisms to carbon dioxide, water and humus. Some, but not all, bioplastics are also biodegradable.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years, we have helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC.
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