Ji-seon Koo, a researcher at KDB Future Strategy Research Institute, said on the 26th, “As the emergence of a low-carbon eco-friendly trend in response to climate change, interest in the eco-friendly bioplastic industry replacing existing petroleum-based plastics is increasing.”
Petroleum-based plastics cause environmental pollution due to their discharge during the manufacturing process and their properties that do not decompose naturally. There is a trend of strengthening regulations at home and abroad. Therefore, bioplastics with low emissions during the manufacturing process and low ecological hazards such as biodegradability have emerged as an industrially eco-friendly alternative. Bioplastic refers to plastics that are made of biomass, such as plants, or that have biodegradable properties by utilizing microorganisms.
Global bioplastic production is estimated at 1,000 tons per year and is expected to grow at an annual average through the year.
Governments and companies in major countries are striving to preoccupy the bioplastics industry through the establishment of joint ventures and strategic alliances as well as policy support. On the other hand, in Korea, while technology development centered on large companies such as petrochemicals is progressing, it will take some time for the market to be fully activated. Although large corporations such as petrochemicals and chemicals and CheilJedang specializing in fermentation are continuing their efforts to secure technology, large-scale investments are difficult due to high prices and poor demand compared to petroleum-based plastics.
Researcher Koo stressed, “It is necessary to build a foundation for vitalization of the bioplastic industry through close cooperation between the government and the private sector.”
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