The capacity of bio-based plastic production has been planned to hike up to 1.6 million tons in 2013 to about 6.7 million tons by 2018. As per the conclusion of the annual market data update of European Bioplastics, the market has been predicted for over 400 percent growth in the mid-term. The compiled data with respected scientific partners, IFBB and the Nova Institute, this result has been represented during the 9th annual conference of European Bioplastics in Brussels. According to the chairman of European Bioplastics, Francois de Bie, bio-based plastics such as PET (Polyethylene Terephthalate) and PE (polyethylene) are earning more profit in terms of productions.
Read more about the deal here - http://foodnewsinternational.com/2014/12/08/world-asia-us-invest-in-creating-market-ready-bioplastics-products-finds-report/
Bio-degradable and renewable plastics manufactured are supposed to be benefitted from the innovative EU directive in case of decreasing of shopping bags. PLA has become the leading growth booster for compostable and bio-based plastics. The recently developed projects have been planned for implementation on India, China and Thailand. Flexible and sturdy packaging has special role to play in the field of bioplastics. In this entire scenario, Asia will extend its role as a leading manufacturing hub. By 2018, over 75 percent of bioplastics will be manufactured in Asia. Surprisingly, despite of being active in research and development, Europe will remain behind with about 8 percent of production efficiencies.
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