PTFE, PFA, FEP, PVDF Fluoroplastic products industry experts
The global bioplastics market will grow rapidly
Classification:
Industry dynamics
Author:
FEP tube little sister
Source:
FEP tube little sister
Release time:
2012-06-08
Visits:
A report pointed out that the global bioplastics market will grow rapidly, with an average 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 in demand for bioplastics, although packaging will continue to dominate the market, with its share expected to decline from 65% in 2007 to 40% in 2025. By 2025, Asia will be the market leader in the bioplastics market, accounting for about 32% 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 are expected to reach 25%-30% by 2020. Mainly due to the improvement of bioplastic technology performance, technological innovation will expand the application in the automotive, medical and electronic industries.
Bioplastics are not only environmentally friendly, but also have good adaptability to the body. They are expected to be used to produce medical products such as postoperative sutures that can be absorbed by the body.
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