Mandatory composting programs can contribute to demand growth for biodegradable polymers, the IHS Markit report said. However, the shortage of composting facilities that are capable of processing biodegradable polymers limits the positive impact of mandatory composting programs on biodegradable polymer demand.
“More legislation is likely coming in Europe or at the EU level, and if that occurs we could see major changes in this industry and pushback from producers of traditional plastic products,” Hackett said. “The last time we at IHS Markit assessed the global demand for biodegradable polymers, we noted the U.S. was the largest driver of demand growth for this segment, but due to legislation, Europe is by far the leading demand center. Europe is the place to watch, as Europeans are particularly motivated to reduce marine litter.”
The issue of plastics and sustainability will be a key topic of discussion at the upcoming sixth annual Global Plastics Summit (GPS) 2018, Oct. 30 and Nov. 1, in Chicago. Experts from IHS Markit and the Plastics Industry Association will discuss the latest market outlooks from key industry sectors.