The global market for biodegradable polymers will amount to an estimated 932 million pounds in 2011 and is expected to increase to more than 2.5 billion pounds in 2016, for a five-year compound annual growth rate (CAGR) of 22%. That’s according to a new technical market research report, “Biodegradable Polymers” (report #PLS025D), from BCC Research.
According to the report, the largest segment of the market, packaging, is expected to reach nearly 1.7 billion pounds in 2016. The market in 2011 is estimated at 656 million pounds, making the five-year CAGR 20.5%. The second-largest segment, made up of fibers/fabrics, is expected to increase in volume from an estimated 134 million pounds in 2011 to 435 million pounds in 2016, for a five-year CAGR of 26.6%. The food service segment is estimated to be 25 million pounds in 2011 and will increase to 40 million pounds in 2016 at a CAGR of 9.9%. Other markets expected to experience growth include agriculture, automotive, medical, and electronic/electrical.