Extrusion International 3-2024-USA

34 Extrusion International 3/2024 34 INDUSTRY NEWS 2024 Bioplastics Market Watch Report Released at NPE2024  The Plastics Industry Associa- tion (PLASTICS) released its 2024 Bioplastics Market Watch Report during an education session at NPE2024: The Plastics Show. “Bio- plastics manufacturing is growing and consumers’ familiarity with bioplastics has increased, based on PLASTICS consumer survey,” said PLASTICS’ Chief Economist Dr. Perc Pineda. “Overall, the outlook for this industry is positive.” Among the highlights found in the 2024 Bioplastics Market Watch Report: • Bioplastics manufacturing rev- enue is now projected to grow at a Compound Annual Growth Rate (CAGR) of 1.9% to reach $1.2 bil- lion by 2028. The size of the U.S. bioplastics market will continue to vary depending on the different metrics used to quantify it. Never- theless, the production capacity of bioplastics in North America, pre- dominantly concentrated in the U.S., is estimated to account for 18.7% of the global production ca- pacity. • Although consumer percep- tions of bioplastics continue to evolve, familiarity with bioplastics has increased significantly over a five-year period. In last year’s sur - vey, 68% of consumers expressed a net familiar response, with just 14% indicating unfamiliarity. This marks a notable shift from the 2018 survey, where the net familiarity was 63%, with 31% indicating un - familiarity. • Competition within bioplastics manufacturing is expected to in- crease within and outside U.S. bor- ders, driven by new materials de- velopment and new applications. The full PLASTICS’ 2024 Bioplastics Market Watch Report can be down- loaded: https://www.plasticsindustry. org/data-report/plastics-mar- ket-watch-watching-bioplastics- 2024/?utm_campaign=The%20 Perc%20Report&utm_medium=email&_ hsenc=p2ANqtz-_LHxUwOoK0sLlF- hh7TMtawvIc-FWpGOkb2Frb-KzEc- 5Wa82_u0El0AOwMAq3a61x37G6F- byUD3qrnUqEb3iB2P26VFqeIgq9cakxTY- 38boPhVjuGs&_hsmi=305989369&utm_ content=305989369&utm_source=hs_ email Analysis „End Pollution, Not Production“ Released As the UN Global Plastic Pollution Treaty meetings take place at INC-4 in Ottawa, Canada, the Plastics In- dustry Association (PLASTICS) has released an official analysis of the U.S trade surplus and its impact on any proposed plastics treaty, au- thored by PLASTICS Chief Econo- mist, Dr. Perc Pineda. Dr. Pineda writes: “A reduction in plastic pro- duction could have unintended consequences, potentially putting healthcare workers at risk and de- priving low-income consumers in developing countries of access to retail products packaged in plastics. Having experienced life in a devel- oping country firsthand, I under - stand why low-income consumers often rely on single-use-sized prod- ucts. For many, a significant portion of their income is allocated to food consumption and shelter—a real- ity that may not be fully grasped by individuals living in more advanced circumstances in G7 countries who advocate for reducing plastic pro- duction. Obviously, the problem here is not plastics packaging pro- duction. To read the full analysis on the PLASTICS blog page. https://www.plasticsindustry.org/ blog/u-s-plastics-industry-posted- 1-1b-trade-surplus-in-2023/?utm_ source=bw&utm_medium=social- x&utm_campaign=null&utm_ content=econ&utm_term=blog Platinum Sustainability Rating by EcoVadis Earned  Orion , a global specialty chem- icals company, announced its 2024 sustainability rating from EcoVadis has been raised from Gold to Plati- num, the highest possible distinc- tion. Orion now ranks among the top 1% of the companies assessed by EcoVadis, one of the world’s largest providers of business sustainability ratings. The organization revised Orion’s score from 78 to 82% after reassessing the company’s 2023 per - formance. “Achieving the Platinum rating is a huge milestone for Orion con- sidering that just three years ago we were at the Silver level. I want to congratulate our global team for their commitment and dedica- tion,” Orion CEO Corning Painter said. “The assessment methodol- ogy is complex and involves numer- ous factors. We appreciate the rigor and dedication to accuracy that EcoVadis brings to the assessment process.” Orion S.A. orioncarbons.com Dr. Perc Pineda