The race for the time taken by biodegradable plastics to break down and vanish from the environment, is still on the run. The acceptable span of time for a biodegradable plastic to decompose stands as the fundamental selling mark and still under innovation. Lesser than 100 years is quiet tolerable.
The wish of every bioplastics developer is to reduce the timeframe of the break down of any biodegradable plastic from a matter of years to weeks. The only biodegradable plastic which shows potential to prosper is Oxo-biodegradable plastic.
The global oxo-biodegradable plastic packaging market in 2017 was valued at $637.3 million; and 2026 predicts it crossing $1 billion. In an analytical research study on oxo-biodegradable plastic packaging, CAGR forecasted a rise of 5.4% in the global market, steered by the escalation of packaging solutions which are environment friendly and government regulations which are supportive to the use of oxo-biodegradable plastics for packaging.
Oxo-biodegradable plastics have shown an immense opportunity for growth in the packaging industry recently, with an increase in awareness on environmental health and the need to reduce plastic pollution. Different types of plastics are getting used in packaging which are discarded upon use. one cannot eliminate the entirely the use of plastic therefore biodegradable packaging solutions are being promoted by many manufacturers. In this scenario oxo-biodegradable plastic packaging solutions has a prosperous market growth in the global market.
Africa’s government have passed Supportive government regulations towards the use of oxo-biodegradable plastics. The future will display a high demand for Oxo-biodegradable garbage bags, where by 2026 sales is predicted to exceed $360 million. In the global market the growth in usage of oxo-biodegradable plastic packaging has recently been observed in the healthcare and pharmaceutical markets.
At present the diameter of the the oxo-biodegradable plastics industry is comparably small. But glancing with a positive perspective the material takes weeks to biodegrade rather than taking months or even years. In the plastic industry if oxo-biodegradable industry can face up yo its critics then oxo-biodegradable plastics could just win the race.
