Bioplastics capacity set to grow 4% annually

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In Germany, research and consultancy nova-Institute has issued a market report on biobased polymers that predicts strong growth for bioplastics.

The report, entitled “Bio-based Building Blocks and Polymers—Global Capacities, Production and Trends 2018-2023,” states that 2018 bioplastic production hit 7.5 million metric tons—just 2% of petrochemically produced bioplastics—although the bioplastics segment is poised to grow 4% annually through 2023. Increases can mostly be attributed to new polylactic acid capacity, nova-Institute says.

Biobased polyethylene furanoate will only be available in commercial quantities after 2023, it adds.