Bioplastics Market Development Update 2023

After a period of stagnation over the past few years, the overall global plastic production is picking up again in 2023.

This development is driven by rising demand combined with the emergence of more sophisticated applications and products. Global bioplastics production capacity is set to increase significantly, from around 2.18 million tonnes in 2023 to approximately 7.43 million tonnes in 2028.

Material development and diversification
Bioplastic alternatives exist for almost every conventional plastic material and corresponding application. Due to a strong development of polymers, such as polylactic acid (PLA), PHA (Polyhydroxyalkanoates), PAs (polyamides) as well as a steady growth of Polypropylene (PP), the production capacities will continue to increase significantly within the next 5 years.

Applications and market segments
Bioplastics are used for an increasing variety of applications, ranging from packaging and consumer products to electronics, automotive, and textiles. Packaging remains the largest market segment for bioplastics, with 43 % (934,000 tonnes) of the total bioplastics market in 2023.

Bioplastics producers working at nearly full capacity in 2023
With actual production data available for the first time, the comparison between the production capacities and actual production in 2023 shows that the bioplastics industry is producing at nearly full capacity. Although varying in some parts quite significantly from one polymer to another, ranging from 60 % to 100 %, the average utilization rate in 2023 is 82 % (1.79 million tonnes production vs. 2.18 million tonnes production capacities).

About this market data update
The market data update 2023 has been compiled in cooperation with the market experts of the nova-Institute (Hürth, Germany). The market data graphs are available for download following the link below. AT

http://www.european-bioplastics.org/news/publications/