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Biodegradable Plastics Are Eroding The Petroleum Based Plastics Market
- Dec 24, 2018 -

Global demand for biodegradable polymers continues to grow


[Frog Chemical Headlines] IHS Markit's latest "Chemical Economics Handbook - Biodegradable Polymers" report that more and more regions have introduced regulations to ban plastic bags and other disposable plastic products that are driving the demand for biodegradable plastics. Growing, especially in Western Europe. The global market value of biodegradable plastics exceeds $1.1 billion in 2018, and the market value is expected to reach $1.7 billion by 2023.


Global biodegradable plastics, erosion is the market share of petroleum-based plastics

Global biodegradable plastics, erosion is the market share of petroleum-based plastics


According to the report, the demand for biodegradable food packaging and disposable tableware (including cups, plates, cutlery and forks) will increase significantly, benefiting from the ban on the use of plastic bags everywhere. The gradual expansion of composting infrastructure and increasing interest in the conversion and utilization of organic waste (such as leaves, grass clippings and landfill waste) are driving the use of compost bags as the second biodegradable polymer. Large end use. In 2018, the global demand for biodegradable polymers is 360,000 tons. It is estimated that the total global consumption will increase to nearly 550,000 tons by 2023, with an average annual growth rate of 9%, which is equivalent to an increase of 50% from 2018 to 2023. %the above.


Global biodegradable plastics, erosion is the market share of petroleum-based plastics

Global biodegradable plastics, erosion is the market share of petroleum-based plastics


Bioplastic


According to Marifaith Hackett, director of specialty chemicals at IHS Markit, biodegradable plastics are mainly starch-based polymers or polylactic acid (PLA)-based plastic materials, which are more cost-competitive than plastics produced from petroleum raw materials. Accelerating growth, especially in Western Europe, is mainly due to the strictest environmental regulations in Western Europe. However, if these biodegradable polymers are compared to the requirements of conventional plastics such as polyethylene, it can be found that the consumption of these biodegradable polymers is arrogant.


The report shows that the demand for the most commonly used plastic PE in the world has almost doubled in the past 20 years, and global PE demand is expected to exceed 100 million tons this year. However, PE resin production faces new major market pressures, including rising consumer awareness of sustainable development, and further tightening of environmental regulations in mature markets such as Europe and the United States and major growth markets such as China, which may threaten future demand growth.


According to Hackett, the most critical driver of biodegradable plastics is legislation. Italy and France have now passed legislation restricting the use of non-biodegradable plastic shopping bags, resulting in a significant increase in the consumption of biodegradable polymers in these countries. It is expected that more and more European countries will continue to lead the traditional plastic bag ban legislation. Six Jianwang 6chem Bioplastics Investment


In contrast, in the absence of mandatory regulatory requirements, the use of biodegradable polymers has grown slower or stagnant. In general, the increasing awareness of consumers' environmental protection will definitely promote the steady development of the biodegradable plastics market.