The Bio-based Industries Consortium (BIC), together with its members, has published a new study on the European market for biobased products. The conclusion is clear: there is no lack of technology or ambition, but rather a regulatory framework that actually stimulates demand for these products. This is the first time that BIC has provided such substantiation for what the organization calls the “lead markets” of the European biobased industry.
The study focuses on four submarkets: chemicals, plastics and polymers, fiber-based packaging, and textiles. According to BIC, Europe has a real chance to play a leading role globally in all these segments, provided that the full value of biobased products, including their environmental benefits, is also rewarded in the market. In addition to the four sector reports, the organization also published a set of policy recommendations and an overview of the key findings.
Market signals are missing
In a response, BIC Executive Director Philippe Mengal points out the strategic importance of the sector for Europe. According to him, scaling up the biobased industry can yield both a competitive advantage and strengthen Europe's strategic autonomy, but that potential remains untapped as long as the right market signals are lacking. Mengal states that the legislation intended to regulate these signals is currently being drafted, and that BIC is prepared to work with policymakers to anchor demand-stimulating measures within it.
This call aligns with previous work by the organization. BIC staff member Marco Rupp, also the press contact for this study, became vice-chair of the newly established working group on lead markets within the Critical Chemicals Alliance earlier this year, a European initiative aimed at the chemical sector. In its response to the proposed Industrial Accelerator Act, BIC also previously urged the integration of sustainable biomass and bio-based industries into European industrial policy.
Broad representation
BIC is the private partner in the Circular Bio-based Europe Joint Undertaking (CBE JU), the two-billion-euro public-private partnership between the European Commission and the business community. The organization represents over three hundred industrial members and approximately one hundred and sixty associated members, including knowledge institutions and universities, spread across the entire value chain from primary production to market.
BIC's full lead market reports are not yet freely accessible; parts of them are reserved for members and interested parties.
Source: biconsortium.eu
Photo: Bio-based Industries Consortium
