Plaxica’s polylactic acid polymers are anticipated to have the price and performance profile to compete in the high volume polymer market. The plastics market is worth more than $400 billion and has grown at an average of 3.5% per year over the last two decades. Polymers are used widely and have become essential to everyday life with applications as diverse as food packaging, drink bottles, furniture, car bumpers, computer housings, carpets and clothing.
Nearly all existing polymers – including the high volume materials, PET, polystyrene, polypropylene, polyethylene and PVC - are derived from petrochemical feedstocks.
Biopolymers are made from renewable feedstocks, usually starch or sugar, although cellulose is anticipated to be used in the future. The current market size for biopolymers is over $2 billion per annum and is growing at more than 10% per year. The most successful biopolymer to date is PLA, with approximately 40% of the market at some $800 million, and which is forecast to grow to $1 billion by 2012. The current usage of PLA is generally restricted to one-trip food packaging, still water bottles and compostable bags. This is due to the limitations of the physical, thermal and gas barrier properties of first generation PLA.
Plaxica’s PLA has much improved strength, flexibility, heat and hydrolysis resistance, and also barrier properties. It is a ‘second generation’ polymer which combines the advantages of biopolymers with the utility of the petrochemical-derived commodity plastics.
