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The Global Biodegradable Plastics Market Is Growing Rapidly
- Dec 29, 2018 -

  The global market value of biodegradable plastics exceeded $1.1 billion in 2018, and market research organizations indicate that by 2023, the global market for biodegradable plastics is expected to reach $1.7 billion.

  According to data from biodegradable plastics this year, the global demand for biodegradable polymers is 360,000 metric tons, but according to the agency's estimate, by 2023, the global consumption of biodegradable polymers can increase by more than 50%. 550,000 metric tons, which means that the average annual growth rate of global biodegradable polymer consumption can reach 9% during the five years from 2018 to 2023.

  Biodegradable or composting polymers refer to bio-based or fossil fuel-based polymers that can be broken down into carbon dioxide and water by microorganisms in industrial or municipal composting sites. Even some of the polymers can be biodegraded directly in the backyard compost bins of individual homes and in soil, freshwater or salt water environments.

  The food packaging field can be said to be the fastest growing field of biodegradable plastics, especially with the limited restrictions of disposable products in various countries, which will promote the further development of the global biodegradable plastics market.

  At present, biodegradable plastics are still in the initial stage compared with other plastic products, but with the implementation of relevant policies and laws and the awakening of environmental awareness among people all over the world, it will vigorously promote the rapid development of the entire industry.