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Demand For Bioplastics Is Growing, But Still Not Competitive With Petrochemicals

January 2, 2018: 12:00 AM EST
Packaging that uses bioplastics made from sugar cane, wood, and corn – instead of petrochemical-based plastics – is expected to grow by 50 percent by 2023. Several big bioplastics companies have entered the packaging segment to meet growing demands for more eco-friendly bottles and other containers from companies like Coca-Cola and Lego A/S. A research group that focuses on the oil industry says the trend is troubling news for the oil industry because the use of biochemicals and bioplastics will depress demand for oil-based containers, “much like recycling can erode overall virgin plastics demand.” But industry watchers say demand for bioplastics packaging will have to increase significantly – not just from Coca-Cola, but from consumers and retailers – to compete effectively against oil-based plastics.
Anna Hirtenstein, "Oil's Dream to Grow in Plastics Dims as Coke Turns to Plants", Bloomberg, January 02, 2018, © Bloomberg L.P.
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