According to IHS Markit, a market research consultancy, the increasing use of plastic bags and disposable plastics has increased the demand for biodegradable plastics. The London-based consulting firm published the latest on July 26. The report states that Western Europe is the largest market for biodegradable plastics because the region has the strictest restrictions on the use of plastic shopping bags.
According to the report, the current market value of biodegradable plastics will reach $1.1 billion in 2018 and $1.7 billion by 2023. As for the amount of degradable polymer materials, this year's demand for polymer materials will reach 360,000 tons, which is expected to increase by 2023. 550,000 tons, the average annual growth rate for five years is 9%.
The degradable or decomposable polymer material may be a bio-based or fossil fuel-based polymer material which is decomposed into carbon dioxide and water by microorganisms through industrial or municipal decomposition facilities. Most of these materials are starch or PLA based materials. Degradable plastics The largest end use and growth drivers are food packaging, disposable tableware and bags.
According to HIS Markit's report, Western Europe has the strictest restrictions on the use of disposable plastic products, and the regulations are becoming more and more stringent. In 2018, the market value of its specialty polymer materials accounted for 55% of the global total. Asia and Oceania, accounting for 25%. Then North America accounted for 19%, and the rest of the world only accounted for 1%.
Part of the reason for the increase in demand is that the cost competitiveness of biodegradable materials is increasing compared to petroleum-based plastics. IHS Markit special chemical researcher and director, also the main author of this report, Marifaith Hackett, puts this in particular, she believes that degradable polymers Material properties and processability have increased dramatically in recent years, and legislation is the most important factor driving demand growth. She said: 'Italy and France restrict the use of non-degradable plastic shopping bags, making the consumption of degradable polymer materials in these countries increasing , We expect European countries to continue to move towards legislation restricting the use of plastic shopping bags.'
However, the demand for degradable materials is still relatively small compared to traditional plastics. According to data provided by IHS Markit, the demand for the world's most widely used plastic PE has almost doubled in the past 20 years. The report predicts global PE demand in 2018. Will exceed 100 million tons.