The global use of bioplastics was 640,000 metric tons in 2010 and 850,000 metric tons in 2011, says a new study by
BCC Research. The use of bioplastics will increase up to 3.7 million metric tons by 2016, a compound annual growth rate (CAGR) of 34.3%, the study predicts.
The European market segment accounted for around 34% of the global market in 2010 and was nearly 210,000 metric tons. This segment increased to 300,000 metric tons in 2011 and will further grow to 1.2 million metric tons in 2016, a CAGR of 32.1%.
The American market accounted for around 37.5% of the total market in 2010 and was 240,000 metric tons. BCC has forecasted that the American market will increase from 300,000 metric tons in 2011 to 1.2 million metric tons by 2016, a CAGR of 33%.