The market for biodegradable polymers is estimated to grow to about 392 million pounds by 2013, according to a study by Global Industry Analysts, Inc. The 7% pa growth will be propelled by potential demand from the chemical, agricultural and plastic sectors as well as environmental concerns.
The largest market for biodegradable polymers in 2007 will be Europe with consumption of 140 million pounds. The U.S. is the second largest market followed by Japan according to Global Industry Analysts. These three markets account for over 90% of the global market. As far as growth is concerned, Europe will continue to grow the fastest with global growth predicted at 9%.
Packaging, with 110 million pounds consumption in 2007 will be the largest consumer of biodegradable polymers. Biodegradable polymers in compost bag application is expected to reach 154 million pounds by 2010.