Synthetic and bio-based biodegradable plastics to hit $7.8 billion by 2018: report

In New York, according to Transparency Market Research’s “Synthetic and Bio-Based Biodegradable Plastics – Global Industry Analysis, Market Size, Applications, Share, Growth and Forecast, 2011 – 2018”, the global synthetic and bio-based biodegradable plastics market was worth USD 2.3 billion in 2011 and is expected to reach USD 7.8 billion in 2018, growing at a CAGR of 19.5% from 2011 to 2018. In the overall global market, Europe is expected to maintain its lead position in terms of revenue till 2018. Europe is expected to enjoy 36.8% of global synthetic and bio-based biodegradable plastics market revenue share in 2018 followed by North America.

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