Sales for plastic packaging to increase
Global functional additive sales for plastic packaging are forecast to grow during 2020–25 at an annual average rate of 5.3% to approximately $2.3 billion from $1.7 billion in 2019, whilst global barrier coating sales for plastic packaging are forecast to grow during 2020–25 at an annual average rate of 4.9% to $2.4 billion to $1.8 billion. Functional additives and barrier coatings are used across a wide range of food, beverages and non-food packaging markets. Food is by far the largest end-use sector for functional additives and barrier coatings in plastic packaging.
Comprehensive Plastic Packaging Tax Proposed For UK
The British government is proposing to introduce a new tax on plastic packaging that contains less than 30% recycled plastic. If the planned bill is passed, any plastic used for packaging across all sectors that is manufactured in or imported into the United Kingdom from April 2022 onwards will be taxed at a flat rate of £200 (US$244) per tonne. If extended to include bio-based content as well and successfully implemented, the legislation could provide a blueprint for countries around the world to take meaningful action to fight the global plastic pollution crisis.
New platform seeks to stimulate new bio-based investments and stimulate value chain
The Bio-based Industries Consortium (BIC), Europe’s leading industry association putting circularity, innovation and sustainability at the heart of the European bioeconomy, has partnered with the European Committee of Regions (CoR) to develop a new partnering platform to connect the bio-based industries and European regions. “The BIC platform can accelerate the green recovery in Europe’s rural and regional areas by supporting regions in realising their Smart Specialisation Strategies” says Dirk Carrez, BIC Executive Director, announcing the platform’s launch.