ENTERPRISE

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Update time : 2025-06-06

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Business Outlook

In the 2020s, many countries have implemented restrictions on the use of plastics, and some countries have already begun to implement plastic ban policies. The global demand for biodegradable plastics is expected to exceed 10 million tons per year. Asia will overtake Europe and the US to become the world's largest consumer of biodegradable plastics. According to the latest data released by the European Bioplastics Association in September 2019, the annual production capacity of bioplastics globally is 2.114 million tons, of which biodegradable plastics (including PB AT, PBS, PLA, PHA, starch-based degradable plastic materials, and other biodegradable plastics) accounted for 55.5 percent, or 1.174 million tons. According to the forecast data of the European Bioplastics Association, by 2024, the global annual production capacity of biodegradable plastics will reach 1.334 million tons, with a compound annual growth rate of 2.7%.

From the second half of 2019 to early 2020, many new countries around the world, including China, have enacted plastic restrictions. Biodegradable plastics account for approximately 20% and 15% of global production and consumption, respectively. This constitutes a huge demand for biodegradable plastics, which will accelerate the growth of the global market According to the United Nations Environment Programme (UNEP) 2019 survey, more than 15 countries will implement plastic restriction orders globally, and thus the growth rate of global demand for biodegradable plastics is expected to reach 30% in 2019 alone.

The types of biodegradable plastics market that have witnessed rapid capacity growth in the past two years are PBAT, PLA, and starch-based plastics, of which PLA is a widely used material with excellent barrier properties, and high-performance PLA is an excellent alternative to PS (polystyrene) and PP (polypropylene). We expect the demand for biodegradable plastics to continue to grow in the near future.

Hunan Eschler Agricultural Technology Co., Ltd. has an excellent team of outstanding technical experts, and the market operation team specializes in the industry chain of this field, and has the ability to continuously improve its own technological innovation, market integration, production and sales capabilities.

The main goal of Hunan Eschler Agricultural Technology Co., Ltd. is to industrialize high-quality bio-based fully degradable modified resins and products for the world market to create a better environment and a healthier life.

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