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The global bioplastics market will grow rapidly

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The global bioplastics market will grow rapidly

  • Categories:Industry news
  • Author:FEP tube lady
  • Origin:FEP tube lady
  • Time of issue:2012-06-08 17:05
  • Views:

The global bioplastics market will grow rapidly

  • Categories:Industry news
  • Author:FEP tube lady
  • Origin:FEP tube lady
  • Time of issue:2012-06-08 17:05
  • Views:

  A report pointed out that the global bioplastics market will grow rapidly, with an estimated annual growth rate of 8%-10%, which will increase from US$1 billion in 2007 to US$10 billion in 2020. New applications in the automotive and electronics industries will drive the growth of demand for bioplastics. Although packaging will still dominate the market, its share is expected to drop from 65% in 2007 to 40% in 2025. By 2025, Asia will be the leader in the bioplastics market, accounting for approximately 32% of the market share, followed by Europe with 31% and the United States with 28%. Asia will occupy a leading position in the market mainly based on the rapid development of genetically modified plants. In 2007, bioplastics accounted for about 10%-15% of the plastics market, and it is expected to reach 25%-30% by 2020. It will mainly benefit from the improvement of the technical performance of bioplastics, and technological innovation will expand its application in the automotive, medical and electronic industries.

  Bioplastics are not only environmentally friendly, they are also very adaptable to the body, and are expected to be used in the production of postoperative sutures and other medical products that can be absorbed by the body.

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