Asia is expected to replace Europe and become the largest consumer market for biodegradable plastics
Compared with the global production capacity of nearly 400 million tons in the plastics industry, the production capacity of bioplastics as an emerging industry is still relatively small. According to statistics, global bioplastics production capacity accounts for less than 1% of the entire plastics industry, which is approximately 2.1 million tons. Among them, bio-based non-degradable plastics account for about 57%, and degradable plastics account for about 43%.
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 increase rapidly in the future.
In recent years, developed countries and regions such as Europe, the United States, and Japan have successively formulated and promulgated 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 To protect the environment and 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 future, the demand for biodegradable plastics in Asia will grow rapidly, which is expected to replace Europe. Become the largest consumer market for biodegradable plastics. At the same time, more than 45% of bioplastics are currently produced in Asia. Asia is still the main production center, with a quarter of the production capacity in Europe. This share is expected to increase to 30% by 2024.
Looking specifically at the development of bioplastics in my country, my country has paid more and more attention to the pollution control of traditional plastics in recent years. In January 2020, the National Development and Reform Commission and the Ministry of Ecology and Environment issued the "Opinions on Further Strengthening the Control of Plastic Pollution", which can be regarded as a new version of "plastic limit Order”, this will push the bioplastics industry to a new stage from the policy level, and the future development can be expected. The main driving factors of the current industry development are:
◆Internal factors: Due to the gradual maturity of technology, the performance of bioplastics has greatly improved in recent years, and the gap between some materials such as PLA and traditional plastics has narrowed significantly, which has gradually attracted the attention of downstream customers.
◆External factors: Mainly from the policy promotion of government departments, consumers' increasing environmental awareness and the gradual increase of corporate social responsibility of brand owners (such as consumer goods, automobiles, retail companies, etc.).
According to Zhuo Tao's model estimates and research by industry experts, my country's overall bioplastics market size in 2019 is about 200,000 tons, and the compound annual growth rate is expected to reach 10% from 2019 to 2025, and it is expected to reach 380,000 tons in 2025.
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