Bioplastic Market Has Great Potential

As some of the plastic manufacturers in the world have turned to the development of bio-plastics, experts expect that in the next few years the global production of bioplastics will grow at a faster pace.

According to the European Bioplastics Association's relevant statistical data, by 2010, the global production of bioplastics is about 700 thousand tons. It is expected that in 2011 it will exceed 1 million tons. By the year of 2015, the global production of bioplastics is expected to reach 1.7 million tons.

The investment advisor of the chemical industry Yi Chi said that, as petrochemical-based plastics use non-renewable sources of raw materials, they are difficult to degrade in the natural state and they have a greater degree of environmental pollution and damage to human health and other disadvantages, the development and production of renewable, low-carbon and environmentally friendly bio-plastics has become the development trend of the plastic industry.

The relevant information shows that An American technology company Maili in the early 2011 in Lake Providence, Louisiana, has begun to build the world's largest bio-based succinic acid plant. Netherlands Plunk is expected to start the construction of lactic acid plant with a capacity of 75,000 tons / year in Thailand in the second half of 2011.

Compared to petrochemical plastics, bioplastics have obvious advantages. The average annual growth rate of the global bioplastics industry is up to 20%. It is expected in the next few years it will maintain a rapid growth trend and the market potential is huge.

Despite the recent global economic downturn and escalating debt crisis in Europe and America have a negative impact on consumption and investment, but the bio-plastics industry is full of optimism. In addition, the pattern of global production in the next 10 years will also have a radical change. In the next few years, Thailand is expected to become the hub of bio-plastics industry. Bio-resistant plastics will gradually become the main market force.

Despite the average annual growth of the global bio-plastics industry is 20%, but the market share in the entire plastics industry is only 0.1%, which means that the bio-plastics market has great potential. The average annual growth rate will continue for years. Currently bioplastics investment projects are in full swing. Although Europe is the largest bio-plastics market, but most new production facilities will be established in other regions, particularly in Asia and South America. Thailand is expected to become the bio-plastics industry hub in the coming years.