Fast market growth of BioPolymers

In addition to replacement of phthalates, the bioplastics industry is experiencing solid growth in polylactic acid (PLA), polyhydroxy alkanoate (PHA), plastarch material (PSM) and most recently bio-based PET. Bio-based polymer production capacity will triple from 5.1 mln tons in 2013 to 17 mln tons in 2020. Bio-based drop-in PET and the new polymers PLA and PHA show the fastest rates of market growth. The production capacity for bio-based polymers boasts very impressive development and annual growth rates, with a compound annual growth rate (CAGR) of almost 20 percent, in comparison to petrochemical polymers, which have a CAGR between three to four percent.