On March 2, according to Xinhua news agency, the resolution on ending plastic pollution (Draft) was adopted at the resumed session of the fifth United Nations Environment Conference in Nairobi, the capital of Kenya. The legally binding resolution aims to promote global governance of plastic pollution.
The resolution on ending plastic pollution (Draft) points out that an Intergovernmental Negotiating Committee will be established to reach an internationally legally binding agreement by 2024, involving the whole life cycle of plastic products, including their production, design, recycling and treatment. The United Nations Environment Programme said that the resolution will promote relevant parties to fundamentally change the way of producing, consuming and managing plastic waste . World plastic production soared from 2 million tons in 1950 to 348 million tons in 2017.
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what is the market space for degradable plastics
degradable plastics refers to plastics that can degrade into environmentally harmless substances under natural environmental conditions, generally refers to biodegradable plastics, which can be completely decomposed into inorganic substances by environmental microorganisms after being discarded, mainly including PBAT, PBS, PLA, PHA, etc.
global plastic production has increased year by year , the global plastic product production in 2021 will be 399 million tons (predicted value), an increase of 3.70% over 2020. With the development of economy and the convenience of life, the express industry and takeout industry are developing rapidly. It is expected that the global plastic output will maintain the growth trend .
Sealand Securities Co.Ltd(000750) research report shows that , less than 10% of all plastic products in the world will be recycled, and nearly 80% will be buried or scattered in the environment. More than 8 million tons of plastic waste enter the sea every year, which has a serious impact on marine organisms and fisheries.
With the strengthening of environmental protection, most countries in the world have begun to restrict the use of traditional plastics degradable plastics are an important alternative to traditional plastics . According to the data of the European bioplastics Association, the global output of degradable plastics was 1.553 million tons in 2021, expected to increase to 5.297 million tons by 2026, with a compound growth rate of 28% .
Policy driven degradable plastics market development
at present, the development of degradable plastics is mainly driven by the policy side . In order to reduce white pollution, the state has issued a number of treatment measures to vigorously support the promotion and popularization of biodegradable plastics such as PBAT while banning the use of traditional plastic products 23456 .
In October 2019, the national development and Reform Commission issued the Guiding Catalogue for industrial structure adjustment (2019 version), which listed "development and production of degradable polymers", "development and production of degradable functional pharmaceutical packaging materials and technologies" and "full biodegradable plastic film farmland demonstration" as encouraged projects .
Then, in January 2020, the opinions on Further Strengthening the control of plastic pollution was issued, requiring that 2020, 2022 and 2025 be taken as the time nodes, clearly stipulates the prohibited scope of controlling "plastic pollution , and constructs a policy system covering the whole life cycle of production, flow through consumption and end-of-life disposal.
Investment strategy of degradable plastics sector
Caixin Securities believes that , degradable materials are in the period of policy introduction, and the speed of policy promulgation and implementation are constantly strengthening. At present, the most mature and possible large-scale promotion of is PLA and PBAT materials .
Shengang Securities believes that , driven by policies such as "plastic ban order", the supply and demand of PBAT is expected to increase significantly at both ends .
institutional concern stocks
Kingfa Sci.& Tech.Co.Ltd(600143) ( Kingfa Sci.& Tech.Co.Ltd(600143) . SH) : the company is a leader in modified plastics, degradable plastics and special plastics, with an annual production capacity of more than 2 million tons of modified plastics. In terms of degradable plastics, the company began its layout as early as 2001. At present, it has mastered many routes such as PBAT, PLA and PBS and a variety of differentiated series products.
Shandong Ruifeng Chemical Co.Ltd(300243) ( Shandong Ruifeng Chemical Co.Ltd(300243) . SZ) : the company is currently the largest MBS impact modification manufacturer in China and the second largest in the world. It is proposed to invest in the construction of 120000 tons of PBAT biodegradable plastic project. The first phase of 60000 tons is expected to be completed and put into operation in the third quarter of 2021, and the second phase of 60000 tons is expected to be completed and put into operation in the first quarter of 2022.
Wanhua Chemical Group Co.Ltd(600309) ( Wanhua Chemical Group Co.Ltd(600309) . SH) : the world's largest MDI manufacturer. Chemical industry leaders step into the field of new materials. On January 14, 2022, the company's 50000 T / a lithium iron phosphate lithium battery cathode material project was officially started in Meishan. The company's new material project was gradually implemented and is moving forward towards the global chemical new material giant.
Red Avenue New Materials Group Co.Ltd(603650) ( Red Avenue New Materials Group Co.Ltd(603650) . SH) : the company is a leading enterprise of rubber additives in China, mainly engaged in the R & D, production, sales and related trade of fine chemical materials. The main products of the production business are high-tech products serving the tire rubber industry.
