Author : TWIN SCREW INDUSTRIAL CO., LTD.

By the year 2050, sixty percent of the carbon emission derived by plastic industry could be vanished if the annual growth of the demand on plastic products could be reduced 2% from now on. It is clear that reducing the use of plastics is the top priority in the perspective of circular economy.

Since the effectiveness of the "New Plastics Economy Global Commitment" in 2018, increasing numbers of multinational agglomerates such as Unilever, Coca-Cola, Nestlé and Carrefour have committed themselves the responsibility for a sustainable environment.

The investment on reducing carbon emission is becoming the most critical factor determining the sustainable growth of the manufacturing industry. Carbon neutrality achieved by 2060 has been committed by the countries contributing more than 75% worldwide GDP.

Increasing carbon emission leads to global climate change and gives rise to threatening impact on the sustainability of the human society. By the mid-century achieving carbon neutrality worldwide, the industry needs to reform by decoupling the economic growth from the utilization of fossil-based resources such as oil, coal and natural gas.

Along with the completed legislation across EU area in 2021 restricting the use of plastics, single use plastics will be legally banned in China by 2025. Up to now there are 79 countries counting more than 70% global GDP have their own legislative restriction on the use of plastics. It is estimated a rate of 16% in CAGR for the products made by bio-based or biodegradable materials during the years 2020 to 2027.