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Bioplastics market grows at about 10% compared to synthetic polymers at about 5 % |
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Bioplastics, growing fast at about 10% pa, cover approximately 10-15%
of the total plastics market currently, poised to increase to 25-30% by
2020. New applications and innovations in the packaging, automotive and
electronics industry are driving the market boom. Over 500 bioplastics
processing companies already exist, and are expected to increase ten
fold by 2020 to over 5000. Due to limited petroleum resources, their
prices and also their disposing problem, demand for biodegradable
plastics (which produces carbon di oxide and water) is growing.
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