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    Home > Chemicals Industry > Rubber Plastic News > [Plastic] The global supply and demand of biodegradable plastics are growing rapidly

    [Plastic] The global supply and demand of biodegradable plastics are growing rapidly

    • Last Update: 2022-01-14
    • Source: Internet
    • Author: User
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    With the gradual implementation of global and Chinese plastic restriction and even plastic ban policies, the market for degradable plastics is expected to open up, with more than ten times the space, and it is expected to reach a market of 10 million tons.

    Degradable plastic

    Plastic limit policy accelerates

    In recent years, developed countries and regions such as Europe, the United States, and Japan have successively formulated and issued relevant laws and regulations to restrict the use of non-degradable plastics through measures such as partial prohibition, restriction, mandatory collection, and collection of pollution taxes, and vigorously develop new biodegradable materials.
    , In order to protect the environment and the soil.
    From 2019 to 2020, many countries in Asia have issued plastic restriction policies, including China, Pakistan, India, the Philippines, Thailand, Algeria and other countries.
    In the coming period, the demand for biodegradable plastics in Asia will grow rapidly, which is expected to replace Europe.
    Become the largest consumer market for biodegradable plastics.

    The rapid growth of production capacity has large room for substitution of polylactic acid

    According to new data released by the European Bioplastics Association in September 2019, as of September 2019, the global annual production capacity of bioplastics was 2.
    114 million tons, of which biodegradable plastics (including PBAT, PBS, PLA, PHA, starch-based degradable plastics and Other biodegradable plastics) accounted for 55.
    5%, which was 1.
    174 million tons.
    According to forecast data from the European Bioplastics Association, by 2024, the global annual production capacity of biodegradable plastics will reach 1.
    334 million tons, with a compound annual growth rate of 2.
    7%.

    Considering that from the second half of 2019 to the beginning of 2020, many new countries around the world have promulgated plastic restriction policies, including China, which accounts for about 20% of the world’s plastic production and 15% of the world’s consumption, which is huge.
    The demand for biodegradable plastics will drive the global market to accelerate growth.
    It is predicted that in the next five years, the global production capacity of biodegradable plastics will exceed the current forecast value of the European Bioplastics Association.

    In the past two years, the types of biodegradable plastics that have grown rapidly in production capacity are PBAT, PLA, and starch-based plastics.
    Among them, PLA is a widely used material with excellent barrier properties.
    High-performance PLA is an excellent substitute for PS (polystyrene) and PP (polypropylene), and demand will grow rapidly in the future.

    Strong demand is mainly for daily food packaging

    According to the research report data released by IHS Markit in 2018, the global demand for biodegradable plastics was 269,000 tons in 2012, and the global demand for biodegradable plastics in 2018 was 360,000 tons, corresponding to a market size of 1.
    1 billion U.
    S.
    dollars, with a compound annual growth rate.
    Is 5%.
    In 2023, the global demand for biodegradable plastics will increase to 550,000 tons, corresponding to a market size of 1.
    7 billion U.
    S.
    dollars.
    From 2018 to 2023, the compound annual growth rate of demand for biodegradable plastics will be 9%.

    According to the expansion of biodegradable production capacity of major global manufacturers and the introduction of plastic restriction policies in major countries in 2019, the growth in global demand for biodegradable plastics has exceeded IHS forecasts in 2019.

    According to a survey by the United Nations Environment Programme (UNEP), at least 67 countries and regions around the world have adopted restrictions on disposable plastic products.
    In 2019, there were more than 15 countries in the world that launched new plastic restrictions.
    The growth rate of global demand for biodegradable plastics in 2019 is conservatively estimated to be around 28%, and the demand is 461,000 tons.

    The food packaging, tableware and bag markets are the main growth drivers for biodegradable plastics.
    Benefiting from local restrictions on plastic shopping and the production of handbags, the market is expected to achieve double-digit growth in the next few years.
    Compost bags are the second largest end application of degradable polymers.
    With the gradual expansion of the composting system, this market segment will continue to maintain strong growth.
    The foam packaging market occupies a large share of the biodegradable polymer market in Western Europe and North America, but it is relatively small in other regions.
    Biodegradable polymers are also used in agriculture and gardening (covering films), paper coatings, textiles, nonwovens, absorbable medical equipment (implants, sutures), downhole tools for oil and gas field operations, and 3D printing filament etc.

    (Keywords: plastic degradation)

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