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Commodities

Bioplastics Boom Driven by Soaring Oil Prices and Middle East Conflict

Guavy AI Editorial Team
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Oil
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The price of Brent Crude oil has soared to over $100 per barrel for the third time in 2026, with the ongoing conflict in the Middle East severely disrupting global petrochemical supply chains.

IDTechEx believes that these developments provide a significant growth driver for the bioplastics industry, which has historically struggled to compete commercially due to its higher production costs.

The price of oil crossing the $100 per barrel threshold earlier this year has led to European polyethylene prices doubling to over €2.5/kg, making alternative bio-based ethylene more competitive at €2-2.5/kg.

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