Currently, the world generates a staggering 15 million tons of plastic waste annually and more than 1 million tons of this amount comes from China alone. To make matters worse, plastic waste makes up 40% of the total waste produced. This means that burying such a significant volume of plastic waste will only add pressure to the already limited arable land. This problem is not just limited to China, as the entire world is grappling with this issue. Hence, the market for biodegradable plastic bags is not only restricted to China, but it spans across every nook and cranny of the planet.
The term "degradable plastics" refers to a type of plastic that possesses certain characteristics which make it suitable for use. These plastics retain their properties during their lifespan and can be broken down into harmless substances naturally after usage, thereby earning them the name "environmentally degradable plastics". Innovations in technology have led to the development of numerous types of degradable plastics such as biodegradable plastics, photodegradable plastics, light, oxidative/biodegradable plastics, carbon dioxide-based biodegradable plastics, and thermoplastic starch resin degradable plastics.
Synthetic polymer materials have been widely used in various fields. However, the used plastic waste has become a public hazard to the environment and society. Some developed countries have successively formulated regulations that restrict or prohibit the use of non-degradable plastics on certain occasions and require the use of degradable plastics. To this end, governments and the plastics industry in various countries have attached great importance to the research and development of degradable plastics while developing effective measures to deal with and recycle waste plastics. hot spot.
With the increase in global awareness about environmental protection, the usage of degradable plastic bags has become a popular trend. As the prices of plastic bags continue to rise, consumers are turning towards using cloth bags for their shopping needs. This shift towards environmentally-friendly options is beneficial for the planet in the long run.
In the coming years, degradable plastic bags are expected to dominate the market and replace regular plastic products. The industry predicts that the global demand for degradable plastics in the packaging market will increase to 9.45 million tons by 2023, with an annual compound growth rate of 33%.
The potential for growth in the degradable plastic packaging market is huge and the trend towards sustainable packaging is only likely to gain momentum as more individuals and businesses become environmentally conscious.