The market share for bio-based products in EU28 presents a fast growing trend, as a result of the increased awareness and product availability in the EU markets. For instance, the following bio-based industries can be highlighted in Europe:
- In 2010 the European chemical industry used about 8-10% renewable materials to produce various chemical substances and polymers. It has been estimated that in EU up to 30% of the mineral oil-based chemicals and materials would be replaced with bio-based alternatives by 2030.
- The EU bio-plastics market was estimated at around 485 million € in 2013 with a potential increase to 900 million € in 2017 and to 1.4 billion in 2020 (55% increase).
- The bio-lubricants market, valued 410 million € in 2010, will reach to 640 million euros in 2020 (growth 56%).
- The market for bio-based surfactants is expected to increase to about 1.3 billion € in 2030; while currently is 680 million euros (growth 91%).
- The market for bio-based building materials is still less developed in many countries, but gains increasing interest from the building industry sector as CO2 neutral alternatives.
In this field, the Bio-Based Industries Joint Undertaking (BBI JU) can be highlighted. The Bio-Based Industries Joint Undertaking (BBI JU) is a €3.7 billion public-private partnership between the European Commission and the Bio-based Industries Consortium (BIC), established to provide the impetus for bio-based sectors to find new ways of collaborating, through the creation of new strategies and objectives. It implements a research and innovation programme through its open calls for proposals which operates under Horizon 2020.