A new market and trend report from the German nova-Institute has shown the capacities, and for the first time, the production data for all bio-based polymers.
The “Bio-based Building Blocks and Polymers- Global Capacities, Production and Trends 2018-2023” report showed that in 2018 the total production volume reached 7.5 million tonnes, which is already two per cent of the production volume of petrochemical polymers.
There is a potential for the amount to be much higher, but it is currently hampered by low oil prices and a lack of political support.
The production of bio-based polymers has become much more professional and differentiated in recent years.
By now there is a bio-based alternative for practically every application, and the capacities and production of bio-based polymers will continue to grow with an expected CAGR of around four per cent until 2023, almost at about the same rate as petrochemical polymers and plastics.
Michael CEO of nova-Institute, said: “The market and trend report of the international nova biopolymer expert group on bio-based building blocks and polymers is outstanding. The 2018 update has more in-depth information than ever, on all commercially available bio-based polymers, capacities, production, applications and outlook. It also includes detailed information on the producers.”