Press Releases
2009−11−11
Bio−plastics estimated to capture 30% of the total
plastics market within the next decade
HAWTHORNE, CALIFORNIA − (BUSINESS WIRE) November 11, 2009
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 that breakthrough
products like our Cereplast Compostables® and Cereplast
Hybrids® are enabling manufacturers to make the switch to
environmentally responsible, sustainable packaging," stated
Mr. Frederic Scheer, Founder and CEO of Cereplast. "Our algae−based
bio−plastics, currently under development, will soon open up a
whole new source of feedstock and result in a broad range of new
applications."
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