Hong Yuan Holding Group (HGYN)

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bioplastics are projected to increase from around 1.2 mln tons (2011) to nearly 6 mln tons in 2016


The total polymer consumption of Western Europe is about 50 mln tpa. According to the University of Utrecht, bioplastics could technically substitute about 42 mln tons of this. Technically, biobased plastics could potentially substitute about 85% of polymers. Nevertheless, there simply is not yet enough volume produced to make this a short - or midterm possibility. The production of bioplastics is projected to increase from today's around 1.2 mln tons (2011) to nearly 6 mln tons in 2016. Bioplastics are rightly regarded as a family of materials that offers multiple perspectives to both industry and society. The bioplastics market up to now was characterised by high and steady market growth rates of at least 20% pa. Within the coming years, growth will take up considerably. As production capacities grow, supply options for bioplastics materials and products will increase. In addition, based on forecasts for the development of crude oil prices, the use of renewable resources will also become increasingly economical in the future.