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Article: Cereplast Expects U.S. Bio-Plastics Market to Top $10B by 2020.
- Article from:
- Business Wire
- Article date:
- November 11, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bio-Plastics Estimated to Capture 30% of the Total Plastics Market Within the Next Decade
HAWTHORNE, Calif. -- Cereplast, Inc. (OTCBB:CERP), a leading manufacturer of proprietary bio-based, sustainable plastics, announced today that it expects the U.S. bio-plastics market to top $10 billion in sales by 2020. As of 2007, the U.S. bio-plastics market accounted for approximately $1 billion in sales. Some estimates point to bio-plastics capturing up to 30% of the total plastics market within ten years.
New 'Green' initiatives by the Obama administration and increasing consumer demand for compostable and renewable plastics are pushing the market. "We believe ...