Bioplastics are plastics produced from renewable biomass sources such as vegetable fats and oils, corn starch, straw, woodchips, sawdust, recycled food waste, etc. The largest application of bioplastics in India is for packaging which accounts for 60% of the overall market share. They are used in the manufacturing of bottles, loose-fill, cups, pots, blows, flexible films, and other products. Bioplastics also finds its application in textile, automotive, electronic, construction, agriculture and constructions. It is a scalable and feasible solution to a wide range of petroleum based plastics. But what are the key factors driving this demand today? Let’s look into it in this article.
THE KEY FACTOR DRIVING THE BIOPLASTICS MARKETS IN INDIA, IS THE CHANGE IN CONSUMER’S PREFENCES TOARDS ECO-FRIENDLY MATERIAL.
Awareness and increased demand for bio-based renewable material, along with availability of raw material, advanced functionality and technical properties, and various recycling options have resulted in a gradual growth in the bioplastic market of India.
Petroleum based plastic takes
100 years to decompose
65% of bioplastic decays within
3 months and are absorbed back into the environment.
Increased eco-awareness among consumers and sustainable solution have been the major driver for the bioplastic market in India.
Other drivers for the increased bioplastic production includes volatile fossil fuel prices, the need for manufacturers to decrease their carbon footprint and the adoption of green procurement policies by the government.
India generates 26000 tonnes of plastic waste daily, 94% of which is thermoplastic or recyclable plastic. The plastic processing industry in 2018 estimates that polymer consumption from 2017 to 2022 is likely to grow at 10%. The plastic waste management rules were made as an attempt by the central government to hold everyone responsible for setting up a proper channel for plastic disposal and has forced the vendor to consume more green packaging labels. This has further driven the bioplastic market in India.
Jammu and Kashmir is the first Indian state to build a bio-plastic manufacturing facility. The unit has an annual installed capacity of about 960 metric tons to manufacture 100% bio-degradable and compostable products. The other major players operating in India’s bioplastic market are Envigreen, Ecolife, Plastobags, Earthsoul India and Truegreen.
India today has initiated the need to build up institutions and systems to counter the challenge of staggering plastic waste in the country in a holistic way for a more sustainable future.
If you wish to know more on the growing Bioplastic market of India, visit Plastivision.org.