The development space of biodegradable plastics
By the end of 2025, China’s express plastic packaging will be completely banned, and disposable plastic bags in all prefecture-level and above urban built-up areas and coastal counties built-up areas and above units in supermarkets and farmer’s markets will also be completely banned.
In terms of the three main areas of supermarkets, express delivery and takeaway, the plastic consumption in the supermarkets, express delivery and takeaway scenarios will be reduced by approximately 100,000 tons, 1.6 million tons, and 300,000 tons, respectively. The three scenarios will be degradable plastics. Provides nearly 2 million tons of replaceable space. In 2018, China's consumption of biodegradable plastics was only 42,000 tons, and there is broad room for growth.
PLA and PBAT are expected to become the main varieties of degradable plastics
Degradable plastics can be divided into biodegradable plastics, such as starch blends, PLA, PHA, etc., and fossil-based degradable plastics, such as PBAT, PCL, etc. As of 2019, the global production capacity of biodegradable plastics reached 1.174 million tons, of which PLA and PBAT production capacity accounted for 25% and 24%, respectively. PLA and PBAT are expected to become the main products for the development of biodegradable plastics in the future.
PLA: The global PLA market is expected to exceed 300,000-500,000 tons in 2020.
PBAT: The 60,000-ton capacity currently under construction is expected to be put into production in 2021 and 2022 respectively.
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