As of Oct 2020, British standards allocate new norms with respect to biodegradable plastic. The British company Polymateria develops a new formulation for plastic degradation.
Biodegradable Plastics Market supplants Conventional Plastic:
Biodegradable plastic can be classified as substances that can be reduced to carbon dioxide and water on microbial action. These substances are commonly produced through raw materials including renewable chemicals, micro-organisms, petrochemicals, etc.
In principle, biodegradable plastics can replace the value chain associated with conventional plastic substances. It serves as a lucrative and environmentally sustainable alternative as compared to plastic. The increased use of this technology brings the population closer to a circular economy. One challenge faced by this market is the price bracket associated with biodegradable plastics. These substances serve as profitable choices though the price per unit associated with this product is greater than the value attained for conventional plastic.
Several regions have enforced norms in order to control the plastic-based waste generation. For instance, as of 2013, the use of biodegradable plastic bags and shopper bags have been compulsory within Italy. Such practices promote the use of ecologically sustainable material. The increasing environmental awareness amongst the general population is one of the key factors that has been driving the growth associated with this market. Countries have been extensively investing in research based on this technology in order to reduce the per capita consumption of plastic-based products.
The imposition of plastic bans on a global scale is one of the factors that promote the use of biodegradable plastics. Chemical Market forecast forms a compilation of technology and market-based innovation in order to derive the potential trends associated with an industry. The supplier margins and the logistics associated with chemical manufacturing industries have been covered within this domain. Therefore, the biodegradable plastics market demand is anticipated to increase in the coming years.
The data relevance and continuously expanding trends associated with a market are some of the key factors that are focused on. The supply chain as well as the value chain for an industrial segment have been studied via this platform. Chemical Market Forecast studies the high growth markets and the opportunities offered by upcoming segments hence providing a comprehensive view of the chemical sector.
World Plastic Production and Consumption:
As of 1950, the values for global plastic production had a value of 2.3 million tonnes. The production surged by the year 2015 to attain a signified amount worth 448 million tonnes. If the rate of global plastic consumption is to stay steady with respect to this compounded growth rate, the value would double by the year 2050 tentatively. On a yearly basis, 8 million tonnes worth of plastic bags escapes into oceans from coastlines of nations.
With respect to plastic consumption, it is determined that a person makes use of a single plastic carrier for roughly 12 minutes. On average, one out of 200 plastic bags is recycled on a quantitative basis. Consequently, according to survey-based calculations, the consumption of plastic ranges to a value of 500 billion to 1 trillion on a global scale.
The increased use of this material has been degrading both the environment as well as the habitation surrounding an area. Additionally, the production concerns associated with plastic and industrial waste disposal is another factor that promotes the use of biodegradable plastics. On performing a trade-off study it is seen that the new technology is more cost cumbersome on a relative basis, though it offers more advantages as compared to conventional plastics. Increased research in this segment is owing to the rapid growth rate associated with the biodegradable plastics market.
New British Standards for biodegradable plastics.
As of 1st October 2020, A new British Standard has been introduced for biodegradable plastics. According to scientists, these norms should irradicate the confusion amongst classes with respect to the different classifications for plastic. British Standard institution states that plastics that prove to breakdown into harmless wax in the design stage will be graded as biodegradable. The residual substances should not contain microplastics or nano plastics to make the grade.
The benchmark for the new standard was attained by a British Company Polymateria. The company has created a formula to turn plastic material like bottles and cups into sludge. Once the breakdown of the material commences, the component substances breakdown to yield carbon dioxide and sludge within two years. The degradation process is accelerated by sunlight, air, and water. These materials can hence be recycled to other plastic-based items after degradation like food cartons, etc. The substances make use of a recycle by date concept to inform the consumers that they could safely recycle this plastic before its degradation stage. The biotransformation chemicals were added by Polymateria in the manufacturing stage of the product. The item consists of a specific element in the formulation that caters to the several ranges of plastic produced. This innovation is a potential turning point with respect to the biodegradable plastic market. The product can serve as a disruptive technology in the near future due to global concerns about the plastic waste generation. Recycling plastic waste can be supported and promoted to a substantially marginal scale with the help of this technology.