According to the latest survey report from Smithers Pine, the demand for biodegradable plastics in the global packaging market will reach 9.45 million tons in 2023, driven by the trend of renewable and degradable, with an annual compound growth rate Up to 33%. The report entitled "Degradable Packaging Market Forecast in 2023" provides an in-depth analysis of the development of the degradable packaging market in the next ten years. Its content covers the end-use market, regional markets and suppliers, and other aspects. The technology development trend in this area is forecasted.
Market demand in Asia soars. According to the report of Smithers Pine, the global aggregate material consumption in 2013 has exceeded 650 billion U.S. dollars, of which North America and Europe each have a market share of less than 25%, and Asia ( Including Japan, the market share has reached about 40%; other regions have a market share of 13%. By 2023, Asia's demand for bio-polymeric materials will reach 34% of global demand, while Europe and North America's share of the global bio-polymer market will decline.
The increase in public environmental awareness and the increase in the prices of fossil fuels and their derivatives are two of the main factors that contribute to the rising temperature of bioplastics. With the continuous increase in the price of traditional polymeric materials (petroleum polymer materials) extracted from petrochemical products, the acceptance and growth rate of bioplastics in the global packaging industry have also increased.
Biomaterials are becoming increasingly popular With renewable materials becoming important raw materials and energy, bioconversion plants will increase investment in technology and production of chemical raw materials, some of which will be processed into degradable polymeric materials. It is understood that bioplastics are getting more and more favored by packaging professionals. As mentioned earlier, the ever-increasing energy costs and the re-understanding of the concept of environmentally sustainable development will lay the foundation for the success of bioplastics in the market.
Biopolymer materials are mostly used in the packaging and food service industries. They are mainly used for packaging products that are intended for use at one time or sent to landfills or into the sea. As a result, biodegradability has become a factor that people first consider when choosing packaging materials. The main reason this issue has not been valued for many years is that bioplastics are more expensive than ordinary materials. But from the report of Smithers Pine, the biological product has been firmly established in the market as a sustainable and renewable raw material, and its future will be brighter and better than we imagined.
Market demand in Asia soars. According to the report of Smithers Pine, the global aggregate material consumption in 2013 has exceeded 650 billion U.S. dollars, of which North America and Europe each have a market share of less than 25%, and Asia ( Including Japan, the market share has reached about 40%; other regions have a market share of 13%. By 2023, Asia's demand for bio-polymeric materials will reach 34% of global demand, while Europe and North America's share of the global bio-polymer market will decline.
The increase in public environmental awareness and the increase in the prices of fossil fuels and their derivatives are two of the main factors that contribute to the rising temperature of bioplastics. With the continuous increase in the price of traditional polymeric materials (petroleum polymer materials) extracted from petrochemical products, the acceptance and growth rate of bioplastics in the global packaging industry have also increased.
Biomaterials are becoming increasingly popular With renewable materials becoming important raw materials and energy, bioconversion plants will increase investment in technology and production of chemical raw materials, some of which will be processed into degradable polymeric materials. It is understood that bioplastics are getting more and more favored by packaging professionals. As mentioned earlier, the ever-increasing energy costs and the re-understanding of the concept of environmentally sustainable development will lay the foundation for the success of bioplastics in the market.
Biopolymer materials are mostly used in the packaging and food service industries. They are mainly used for packaging products that are intended for use at one time or sent to landfills or into the sea. As a result, biodegradability has become a factor that people first consider when choosing packaging materials. The main reason this issue has not been valued for many years is that bioplastics are more expensive than ordinary materials. But from the report of Smithers Pine, the biological product has been firmly established in the market as a sustainable and renewable raw material, and its future will be brighter and better than we imagined.
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