European Bioplastics Predicts Growth in Bioplastics Production by 2024

Market report Global bioplastics market set to more than double by 2029

2024-12-13 Source: European Bioplastics 1 min Reading Time

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European Bioplastics presented its 2024 edition of the market development update during the EBC24 taking place in Berlin, Germany. The report predicts a continuous growth of the global production capacities of bioplastics.

Global bioplastics production capacity is set to increase significantly from around 2.47 million tonnes in 2024 to approximately 5.73 million tonnes in 2029.(Source: European Bioplastics) — Global bioplastics production capacity is set to increase significantly from around 2.47 million tonnes in 2024 to approximately 5.73 million tonnes in 2029.
(Source: European Bioplastics)

Overall global plastics production continues to rise steadily. This development is driven by rising demand combined with the emergence of ever more sophisticated applications and products. In line, the global bioplastics production capacity is set to increase significantly from around 2.47 million tonnes in 2024 to approximately 5.73 million tonnes in 2029, as a report published by EUBP shows.

“The growth in bioplastics production capacity should be seen against the backdrop of increasing consumer awareness of the environmental impact associated with the overall plastic consumption, underscoring not only the resilience but also the significance of our industry to contribute to sustainable solutions”, states Hasso von Pogrell, Managing Director of European Bioplastics (EUBP). 

Bioplastic alternatives exist for almost every conventional plastic material and corresponding application. Due to a strong development of biobased and biodegradable polymers, such as polylactic acid (PLA) and polyhydroxyalkanoates (PHA), biobased polyethylene (PE) as well as a steady growth of biobased polypropylene (PP), the production capacities will continue to increase significantly within the next 5 years, according to the data.

Bioplastics are used for an increasing variety of applications, ranging from packaging and fibres to consumer goods, automotive, and agricultural products. Packaging remains the largest market segment for bioplastics with 45 percent (1.12 million tonnes) of the total bioplastics market in 2024.

The comparison between the production capacities and actual production in 2024 shows that the bioplastics industry is producing at almost 60 percent capacity. Although varying in some parts quite significantly from one polymer to another, ranging from 35 percent to 100 percent, the average utilisation rate in 2024 is 58 percent (1.44 million tonnes production vs. 2.47 million tonnes production capacities).

“A potential further approximation of actual production to existing production capacities largely depends on the specific interpretation of recent regulations — keyword PPWR — and other future European legislation relating to the plastics market”, von Pogrell concludes.

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