Impact of Covid-19 on Biodegradable Plastics Market:
Plastics play a key role in protecting people, especially front-line workers, during the COVID-19 pandemic. Informal recyclers are particularly vulnerable to the coronavirus pandemic. Companies are reconsidering their recycling plans and their commitments in terms of sustainable development in the face of economic turmoil. The rise of single-use plastics will have long-term impacts on the environment. Versatile, affordable, and ubiquitous, plastics were essential to the operation of hospitals and the protection of our frontline workers during the COVID-19 pandemic. They are the basis of medical equipment and protective equipment. They are even at the heart of innovative interprofessional collaborations to fight the virus; Luxury car brand Ferrari, for example, has announced that it will produce the necessary thermoplastic components for respiratory valves, while Apple has designed plastic face shields for healthcare professionals and is shipping millions to every state. -United every week. Waste pickers in the informal sector have long worked on the front line of efforts to keep cities and towns safe from garbage and trash. For instance, in Indonesia, the informal sector is the crucial part of plastic waste management, as it accounts for 1 million tons of plastic waste every year, of which 70% can be recycled. However, with a general lack of job security or health benefits, waste pickers also face unprecedented threats to their safety and livelihood. In Indonesia, private sector partners provide resources that waste pickers urgently need. But looking at the big picture, it is clear that governments and businesses must explicitly and carefully integrate support to complainants into their COVID-19 responses, providing them with personal protective equipment, connecting them with food and community resources, and ensuring access to formal medical systems.
Market Overview:
The global biodegradable plastics market is predicted to develop from $ 3.25 billion in 2019 to $ 6.64 billion by 2025, at a compound annual rate of 16% between 2020 and 2025. In this report, 2020 considers the year and period of forecast is between 2020 and 2025.
The rising usage use in food packaging and compostable bag applications in emerging markets is promoting this market boom. The increasing regulations and bans on plastic bags and other related items support this market worldwide. Biodegradable plastic is a naturally decomposing product mainly due to the microorganism present in the environment that decomposes the structure of biodegradable plastic. It is made by microorganisms, renewable raw materials, petrochemicals and the combination of these three. Biodegradable plastic is environmentally friendly and non-toxic. It is relatively more expensive than conventional plastics because it is produced from renewable raw materials. Also, biodegradable plastic is eco-friendly because it is made from renewable materials. There is a global shift from synthetic chemicals to organic products to achieve the bioeconomy and reduce the greatest environmental impact of conventional plastic. Therefore, the government in different geographic regions regulates policies against the consumption of single-use plastic products to dispose of synthetic plastic products.
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Market Segmentation:
By type:
PLA
Starch Blends
Biodegradable Polyesters
PHA
Cellulose Derivatives
Regenerated Cellulose
Thermosetting plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two variants of biodegradable plastics that are majorly used in the packaging sector. Packaging products made from these plastics are mainly used in the packaging of fresh food and in the packaging of snacks and dry sweets, bakery products, bottles of water and fruit juice, trays and coatings for glasses and films for drinks and cardboard.
By application:
packaging & bags
consumer goods
agriculture & horticulture
textile
automotive
medical
building & construction
Packaging is the largest and most dynamic end-use industry for biodegradable plastics. The latest applications of these plastics are diaper banks, adult incontinence items, and landfill covers. The increasing advent of innovative products in packaging should increase this market demand further.