Growth Resumption Global Production Capacities of Bioplastics 2023-2028
Bioplastics currently constitute about 0.5% of the 400 million tonnes of plastic produced annually. After a stagnant phase, global plastic production is picking up in 2023 due to rising demand and the emergence of sophisticated applications.
The global bioplastics production capacity is projected to increase from around 2.18 million tonnes in 2023 to approximately 7.43 million tonnes in 2028.
Material Development and Diversification
Bioplastic alternatives are available for almost every conventional plastic material and application.
Significant development is observed in polymers such as PLA (Polylactic Acid), PHA (Polyhydroxyalkanoates), PAs (Polyamides), and PP (Polypropylene).
The production capacities of these bioplastics are expected to continue increasing significantly over the next 5 years.
Applications and Market Segments
Bioplastics are increasingly used in various applications, including packaging, consumer products, electronics, automotive, and textiles.
Packaging remains the largest market segment for bioplastics, accounting for 43% (934,000 tonnes) of the total market in 2023.
Production Capacities and Utilization
In 2023, the bioplastics industry is operating at nearly full capacity.
Utilization rates vary among different polymers, ranging from 60% to 100%, with an average rate of 82% in 2023 (1.79 million tonnes production vs. 2.18 million tonnes capacity).
Ecopha Bioplastics.world provides this overview of the latest developments in the bioplastics industry, reflecting our commitment to staying at the forefront of sustainable materials innovation. This report highlights significant growth in the bioplastics sector, underscoring our dedication to offering environmentally responsible products. For more detailed information, visit European Bioplastics.
Contact us for more information on how these developments impact our products and services
FAQs
What is the current global market share of bioplastics?
As of now, bioplastics constitute about 0.5% of the 400 million tonnes of plastic produced annually. This figure highlights the emerging but significant presence of bioplastics in the global plastics market.
How is the global production capacity of bioplastics expected to change by 2028?
The global production capacity of bioplastics is projected to see a substantial increase, growing from approximately 2.18 million tonnes in 2023 to around 7.43 million tonnes by 2028. This growth indicates a strong upward trend in the bioplastics industry.
What developments are occurring in bioplastic materials?
There is significant development and diversification in bioplastic materials, with alternatives now available for almost every conventional plastic material. Notable advancements are seen in polymers such as PLA, PHA, PAs, and PP, contributing to a more varied bioplastics market.
In which applications and market segments are bioplastics most commonly used?
Bioplastics are increasingly being used in various applications, including packaging, consumer products, electronics, automotive, and textiles. Currently, packaging is the largest market segment, accounting for 43% of the total bioplastics market in 2023.
What is the utilization rate of the bioplastics industry's production capacity in 2023?
In 2023, the bioplastics industry is operating at nearly full capacity, with utilization rates among different polymers varying from 60% to 100%. The average utilization rate stands at 82%, indicating a high demand and efficient use of production capabilities.
