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The global production capacity for bioplastics is expected to increase from 2.11 million tons in 2018 to 2.61 million tons by 2023. Asia remains a major production hub, with over 50% of bioplastics production taking place in the region. Additionally, the worldwide bioplastic packaging market is expected to grow from USD 5.94 Billion in 2018 to USD 24.84 billion by 2026.
Thailand is well positioned to become a global bioplastics hub. The country is a leading producer of the raw materials needed for bioplastic synthesis and is well equipped with advanced technology and technical expertise through all phases of the supply chain. The Kingdom’s strategic location at the heart of Southeast Asia creates market access to consumers all over the region, and strong governmental supporting policy has been implemented to fuel growth in this sector. All of these factors highlight Thailand’s readiness to emerge as a global bioplastic hub.
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