Every year, the world generates hundreds of millions of tons of new plastic waste. Yet, did you know that 75% of companies plan to increase their investment in bio-based, eco-friendly plastics over the next two to three years? In reality, however, only 30% have actually made a purchase. Why the gap between intention and action? Today, we'll use data to uncover the truth behind the corporate transition toward sustainability.
Brazilian chemical giant Braskem recently released its "Bio-based Advantage Report," based on a survey of 2,250 decision-makers in the product and packaging industries across 14 countries. The findings reveal three primary drivers pushing companies to shift toward bio-based materials: First, regulatory pressure-82% of companies fear penalties, as new regulations from the EU and the UN become increasingly stringent. Second, supply chain instability-for instance, when tensions flared in Iran, the price of polyethylene (PE) in Europe spiked by 70%–80%, highlighting the extreme volatility of fossil-based raw material supplies. Third, market opportunities-consumers are placing a higher value on environmental protection, with 73% willing to pay a premium for "green" products.
However, companies remain hesitant to switch to bio-based materials due to three major obstacles: First, higher costs-with prices 20% to 50% steeper, 35% of companies immediately dismiss them as "too expensive." Second, concerns over quality-32% of companies worry about performance issues such as heat resistance, transparency, and durability. Third, operational complexity-25% of companies find the prospect of retooling production lines too cumbersome.
So, how can this impasse be broken? Braskem suggests that an ideal bio-based material should be directly compatible with existing production lines-delivering carbon reduction and regulatory compliance without compromising product performance.
Naturally, Braskem also highlights its own solution: I'm green™ bio-based polyethylene (PE).
