Page 38 - Plastics News August 2024
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ENVIRONMENT NEWS
Ahmedabad-based NEPRA to invest ₹650 cr in
expanding waste treatment in North & North-
east India
Ltd, a company located in Ahmedabad. The
firm is seeking money through a combination
of structured loan and equity. It manages more
than 1,000 tons of rubbish every day in locations
like Bengaluru and Ahmedabad. With an annual
revenue of 250 crore and an 80% growth rate,
Nepra plans to build Material Recovery Facilities
in Uttar Pradesh and Haryana and supply large
cement firms with Refuse Derived Fuel (RDF).
he 650 crore waste treatment and seg- Source: - TheHindu
regation facility expansion project in
TNorth and North-East India is being un-
dertaken by Nepra Resource Management Pvt
Biodegradable Plastic Market Set to Surpass US$
18.61 Billion by 2032: Growth Shaped by Consum-
er Preference and Regulatory Policies
he biodegradable plastic market is pro- The Asia Pacific region is becoming a key player
jected to surge to over $18.61 billion by in the biodegradable plastic market, with coun-
T2032, up from $5.98 billion in 2023, re- tries like China, Japan, and India implementing
flecting a compound annual growth rate (CAGR) policies to reduce conventional plastic use and
of 13.44%. The growth of the biodegradable promote biodegradable alternatives.
plastic market is driven by rising consumer
awareness of sustainability and stricter regu- This legislative support, combined with a grow-
lations favoring eco-friendly materials. These ing consumer base favoring sustainable packag-
materials, often made from renewable sources ing, positions the region for significant market
like starch and polylactic acid (PLA), are being growth and innovation. Prominent corporations
rapidly adopted in sectors such as packaging, like BASF SE, Mitsubishi Chemical Holding Cor-
healthcare, and automotive, driven by the need poration, and Total Corbion are spearheading
to minimize ecological effects as well as devel- this industrial revolution by emphasizing re-
opments in biotechnology and material science. search and development and establishing stra-
tegic alliances to propel biodegradable plastic
38 PLASTICS NEWS August 2024
