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Growth forecasted for biodegradable polymer market
January 30, 2014
1 Min Read
In its global Biodegradable Polymers, SRI Consulting (SRIC) reports the global biodegradable polymers market doubled from 2005 to 2009. The consulting and business research service noted that this growth occurred despite global economic slowdowns.
SRIC also projects 13 percent annual growth for global biodegradable polymers market from 2009 to 2014.
Lead author and consultant Michael Malveda comments, "Future legislation enacted will have a major impact as to how widely these polymers are used." Mr. Malveda continued, "Likewise, prices of petroleum-based alternatives and the economy's recovery will help shape the industry's future."
Double digit annual growth is expected in Europe, North America and Asia in the next several years. According to SRIC researchers, a major driver in the use of biodegradable polymers will be the food packaging, dishes and cutlery market segments. The group also noted that legislation and improved cost competitiveness will have an effect on growth, as will consumer concerns over reducing landfills, fossil fuel independence, reduction of green house gas emissions and pressure for environmentally friendly products.
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