According to market data from European Bioplastics (EUBP) and the Nova-Institute, global bioplastics production capacity is set to increase from 2.112 million tons in 2018 to 2.616 million tons in 2023. This represents an increase in production of 23.9% over the 5 years and an average annual growth of almost 4.4%.
Biobased, non-biodegradable plastics, including drop-in solutions such as biobased PE (polyethylene) and biobased PP (polypropylene), are now becoming available in commercial quantities. Most significantly, new capacities are likely to come on stream in the latter part of the 2018 to 2023 period.
Innovative biopolymers such as PLA (polylactic acid) and PHA (polyhydroxyalkanoates) are predicted to grow in production capacity and demand in the coming years, albeit starting from a low production base in the case of PHA.
Biome Technologies plc (LON:BIOM) Biome Bioplastics and Suregreen partnered to create biodegradable tree shelters. The Vigilis Bio tree shelters are made from biodegradable biomaterials and have specifically been designed to guard and protect the first 5-7 years of a tree’s life. They then slowly fragment into small pieces that completely biodegrade in the span of two years, leaving only CO2, water and a few naturally occurring minerals.