Report forecasts annual growth of 17% for bio-based polymers at a global level

In Germany, nova Institut forecasted an annual growth of 17 % for bio-based polymers between 2023 and 2028. 

The study showed that the demand from Asia and the USA in particular is driving growth, while Europe is lagging behind.

In 2023, the total production volume of bio‑based polymers was 4.4 million tons, which is 1 % of the total production volume of fossil‑based polymers. The CAGR of bio-based polymers is, with 17 %, significantly higher than the overall growth of the polymer market (2–3 %), nova Institut said.

From the total 4.4 million tons of bio-based polymers produced in 2023, cellulose acetate (CA), with a bio-based content of 50 % and epoxy resins with a bio-based content of 45 % made up over the half of the bio-based production, with 24 % and 30 % respectively, the study added.

More on the story.