NanoMarkets' Latest Report Forecasts The Bio-Plastics Market Through 2020
The consumption of bio-plastics by the packaging industry will amount to 1.3 billion tons in 2013; almost 75 percent of bio-plastics shipped. Packaging will still hold a 65 share of the bio-plastics market as late as 2020. For plastic bottles, bio-PET is expected to replace fossil-based plastics entirely and PLA foamed structures are expected to take a noticeable share of the food container segment.
The other big bio-plastics opportunity lies in the automotive segment, which is expected to consume just 75 million tons of bio-plastics in 2013 but more than 10 times that amount in 2018. Bridgestone and Cooper Tire are developing bio-plastic tires and bio-based butadiene tires will be retailing by 2014. Mitsubishi is doing R&D work on bio-plastics for automotive interior parts. Bio-plastics that are expected to be used in the automotive segment include PLA blends, bio-PA, bio-PE, and bio-PET.
Bio-plastics product is shifting to Asia and South America, closer to where feedstocks are grown. By 2020 nearly 80% of bio-plastics will be produced in these regions. Chinese companies are already making bio-plastics and firms such as Arkema and BASF are investing in the Chinese bio-plastic sector. Chinese domestic consumption for bio-plastics will also grow rapidly, but will be constrained by Chinese government concerns with using food crops for feedstocks.
About NanoMarkets:NanoMarkets tracks and analyzes emerging markets in advanced materials. The firm is the recognized leader in industry analysis and forecasts for a variety of functional plastics-related markets. Visit http://www.nanomarkets.net for a full listing of NanoMarkets' reports and other services. SOURCE NanoMarkets
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