On December 10, 2024, the European Association for Bioplastics (EUBP) published global bioplastics data. Bioplastics currently account for approximately 0.5% of the nearly 414 million tons of plastics produced annually.
1. Significantly reduced future expectations
In terms of production capacity, the global capacity of bioplastics (including bio-based materials and biodegradable plastics) continues to grow, and the global bioplastics capacity is forecasted to be 2.47 million tons in 2024, and will grow to 5.73 million tons in 2029.
However, compared to the previous year's data, the future expectations have been cut significantly: EUBP had predicted in December 2023 that the global bioplastics production capacity would be 2.67 million tons in 2024 and would grow to 7.43 million tons in 2028. In fact, EUBP keeps adjusting its future forecasts and even revising historical data based on current policies and markets.
2, PLA and PHA market prospects are the best
Bioplastic alternatives are suitable for almost all traditional plastic materials and corresponding applications. The data shows that due to the strong development of bio-based and biodegradable polymers, bioplastics production capacity will continue to increase significantly over the next five years, i.e., by 2029, with poly(lactic acid) (PLA, with a share of 42.3% or 2.42 million tons), polyhydroxyalkanoate (PHA, with a share of 17.0% or 0.97 million tons), bio-based polyethylene (PE, with a share of 8.9% or 0.51 million tons), and bio-based polypropylene ( PP, accounting for 8.5% or 490,000 tons).
3. Packaging remains the largest market segment for bioplastics
Bioplastics are increasingly used in a wide range of applications, from packaging and fibers to consumer, automotive, and agricultural products. Packaging remains the largest segment for bioplastics, accounting for 45% (1.12 million tons) of the total bioplastics market in 2024.
4, 2024 bioplastics production of 1.44 million tons, capacity utilization rate of nearly 60%
In terms of production, bioplastics production in 2024 was 1.44 million tons, up slightly from 1.37 million tons in 2023.
In terms of capacity utilization, the average utilization rate in 2024 is 58% (1.44 million tons of production versus 2.47 million tons of capacity), although some components vary widely from polymer to polymer, ranging from 35% to 100%.
Hasso von Pogrell, Managing Director of EUBP, concludes, “Whether actual production can come any closer to existing capacity will depend largely on the specific interpretation of the recent regulation (PPWR), as well as other future legislation for the European plastics market.”
