In 2023, Global Bioplastics Production Hits 1.82 Million Tons, Projected to Surge to 7.43 Million Tons by 2028

The upcoming European Bioplastics Conference, scheduled to take place in Berlin, Germany from December 12th to 13th, promises to be an insightful event. Hasso von Pogrell, the Managing Director of European Bioplastics, is poised to deliver a comprehensive update on the bioplastics market, coupled with crucial statistical insights.

Contrary to the stagnation experienced in 2020, the bioplastics sector witnessed substantial growth in the past year. Global bioplastics production surged from 1.51 million tons in 2022 to an impressive 1.82 million tons in 2023. The market composition reveals that PLA constitutes 27%, PA makes up 20%, PE contributes 14%, PTT holds 13%, and APC commands 7%.

Insights from the latest data collaboration between the European Bioplastics and Germany's Nova Institute indicate that installed capacity is anticipated to reach 2.18 million tons in 2023, projecting a substantial increase to 7.43 million tons by 2028.

Despite the diverse applications of bioplastics across various industries, packaging remains the predominant sector, representing 43% of the market in 2023. Projections suggest a further increase to 48% by 2028. Notably, the fiber market is expected to decline from 21% in 2023 to 13% in 2028. However, applications in sectors such as automotive, transportation, agriculture, horticulture, and electrical and electronics are anticipated to maintain relatively stable market shares over the next five years.

Examining material breakdowns, it is predicted that PLA will comprise 43.6% of production capacity by 2028, followed by PA at 18.5%, PHA at 13.5%, PP at 5.9%, and PTT at 5.3%.

From a geographical standpoint, there is a significant shift in production capacity towards the East. European Bioplastics data reveals that Europe's share of global production capacity is set to decrease from 12.8% this year to 7.3% in 2028. Conversely, Asia's share is projected to rise from 55.3% to 71.5% over the same period. Capacity in the Americas is expected to decline, with North America decreasing from 18.7% to 17.0%, and South America plummeting from 13.0% to 3.9%.

Von Pogrell emphasized the importance of transparent and consistent data for European stakeholders and industries to make informed decisions, develop new products, and establish supportive legislative frameworks. Despite acknowledging Europe's commendable investment and success in bioplastics research and development, speakers at the conference criticized the EU's perceived lack of political support for the industry, which has resulted in decreasing competitiveness.

Source: sustainableplastics