HC Plastics News: Bioplastics refers to plastics produced by microorganisms based on natural substances such as starch.
According to reports, the global bioplastics market will grow rapidly, with an average annual growth rate of 8%-10%, which will increase from $1 billion in 2007 to $10 billion in 2020. New applications in the automotive and electronics industries will drive demand for bioplastics, and while packaging will still dominate the market, its share is expected to fall from 65% in 2007 to 40% in 2025. By 2025, Asia will be the leader in the bioplastics market, accounting for 32% of the market, followed by Europe with 31% and the United States with 28%. Asia will dominate the market mainly based on the rapid development of genetically modified plants. In 2007, bioplastics accounted for 10%-15% of the plastics market and is expected to reach 25%-30% by 2020. It will benefit mainly from the improved performance of bioplastic technology, which will expand its applications in the automotive, medical and electronics industries.
Currently, in the 5 billion hectares of global agricultural area, bioplastics rely on only about 0.01% of the agricultural area. According to the BCC study, bioplastics production is expected to increase by 272% from 2015 to 2020, and bioplastics production may increase by 271% from 2015 to 2020, which means that by 2020, bioplastics may be consumed. About 0.04% of agricultural products in the global agricultural area (000061).
The growing popularity of bioplastics known as "drop-ins" is an important industry trend, and they are comparable to the chemical effects of petroleum-based plastics they replace. However, because it does not need to change existing equipment, it is more acceptable to customers, and the products can be recycled, so it is favored by large packagers. Although the performance of various specific bioplastics varies widely, the thermal properties of bioplastics are weaker than petroleum-based plastics. Therefore, according to the research of BCC, the future application of bioplastics and petroleum-based plastics to durable products will be more and more. 
Editor in charge: Wang Ning 12
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