The global demand for biodegradable and bio-based plastics – which are increasingly of interest to nonwovens suppliers and their customers – will more than triple to over one million metric tons in 2015, valued at $2.9 billion, according to a new report.
Bioplastics have moved past the initial phase of market introduction the report from Freedonia observes, and are now experiencing robust increases in demand in virtually all parts of the world. Gains are being fuelled by a number of factors, including consumer preferences for environmentally sustainable materials, improved performance of bioplastic resins comared to traditional plastics, and the introduction of commodity plastics produced from bio-based sources.
Ultimately, however, price considerations will be the main driver of bioplastic market success, and rising petroleum costs may allow some bioplastic resins to achieve price parity with conventional plastics by the end of the decade.