Sustainability: Trends and developments
The chemical industry is noticing an increasing demand and commitment to sustainable alternatives. These are created in the face of increasing responsibility on the part of consumers, users and processors. For example, different research articles show that there is a rapid increase in consumers buying more environmentally friendly products compared to five years ago.
“The products of tomorrow should be high quality but made from renewable resources, plants, organic waste or microorganisms” – Shaimaa El Fayyoumy, product manager / member of Innovation Team De Monchy
Bio-based market and product development
According to the USDA, bio-based products are derived from plants and other renewable agricultural materials. De Monchy is noticing a rapid increase in the global market size of bio-based chemicals. It’s expected that the CAGR (Compound Annual Growth Rate) of this market will increase with more than 10% from the year 2018 to 2025. This indication is based on rising regulatory regarding environmental pollution which will lead to bio-based products having approximately 20% of the total renewable market.
We are noticing a further increase in demand towards more sustainable waxes like carnauba, candelilla, and castor wax in consumer products for food and cosmetics. In addition, bio- and gum based hotmelt coming from pine trees and used in packaging is becoming increasingly popular in the adhesives and coatings market. A closer look at other markets teaches us that the thermoplastics market is slowly moving away from fossil based - to bio-based plastics and materials based on renewable sources. In the last years this trend slowed down in favor of recycling (postproduction and end of life products) plastics.
De Monchy believes that the government has a leading role in promoting bio-based and renewable resources. Consumers do not yet have an incentive to switch to 'green' products based on price and availability. Doesn't it remain strange that today recycled plastics are more expensive than virgin materials? Doesn't the government need to boost the consumer which stimulates the process? Should producers join forces, or will the power of quick win and gross profit continue to push our responsibilities forward?
The Monchy is ready to make a difference and has set itself the goal of advising and making more and more bio-based and renewable raw materials available. If you would like to know more about the prospects of bio-based and renewable resources, please contact our marketing team.