German-based nova-Institute has published a new market report about trends in the bio-based polymers market.
In 2017, the world-wide capacities for bio-based polymers reached 4.6 million tonnes and the forecast for 2022 shows 5 million tonnes. With a CAGR of 10% between 2017 and 2022, Europe has the highest growth of bio-based polymer capacities compared to other regions of the world.
According to the researchers, the production capacities of bio-based polymers continue to grow at around 3 to 4% per annum, at about the same rate as petrochemical polymers. The market share of bio-based polymers in the total polymer market remains constant at around 2%. However, the individual development of different bio-based polymers varies considerably, the Institute says. While some such as bio-PET are virtually collapsing compared to previous forecasts, many, such as PLA, are showing constant or slightly increasing capacities and a few are even showing significant growth. Additionally, for some bio-based polymers such as PHA, PEF, bio-PE and bio-PP, the prospects for the future are quite positive. Overall, the market environment remains challenging with low crude oil prices, little political support and partially underutilized capacities. Until now, the biodegradability of some bio-based polymers has not yet been able to generate a real advantage globally.
This story uses material fromnova-Institute, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
