The State Administration for Market Regulation and the Standardization Administration issued an announcement, "GB/T41010-2021 Biodegradable plastics and products degradation performance and labeling requirements", "GB/T41008-2021 biodegradable drinking straws" two national recommended standards will be implemented on June 1, 2022, degradable plastics or will usher in opportunities.

After the introduction of the "plastic ban" in 2020, the degradable plastics market as a traditional plastic alternative product has grown significantly. Industry insiders expect that during the "Fourteenth Five-Year Plan" period, the compound annual growth rate of the degradable plastics market will be 11.3%, and the demand for degradable plastics in China is expected to reach 2.6 million tons by 2025, and the market size is expected to exceed 50 billion yuan. At present, the total effective production capacity of degradable plastics in China is only about 250,000 tons, and the space gap of degradable plastics market is huge. With the strengthening of policies and the continuous expansion of the application of degradable plastics, this market demand will be released to a greater extent.