The plastics industry is a global market where stakeholders are engaged in the production and utilization of plastic materials. Plastics are chemical compounds valued for their lightweight, durability, cost-effectiveness in production, and ease of being molded into various forms. Thousands of simple and complex products are manufactured from plastics, also known as polymers. Plastic products are virtually ubiquitous worldwide, even though the plastics industry has only existed since the early 20th century.

Plastic can exist in two forms: “synthetic” or “biobased.” Synthetic plastics are derived from crude oil, natural gas, or coal. In contrast, biobased plastics are obtained from renewable sources such as carbohydrates, starch, fats and plant oils, bacteria, and other biological substances. Due to the ease of production methods associated with crude oil, the majority of plastics in current use are synthetic. However, the increasing demand for limited oil reserves has led to a growing need for biobased plastics sourced from renewable resources like biomass waste or animal by-products.
In ancient times, humans used so-called natural polymers such as natural rubber (caoutchouc), hardened tree saps, or animal horns to create special objects that couldn’t be made from common raw materials like metals or stones. These special objects included window coverings, food and beverage containers, and jewelry. In the 19th and 20th centuries, scientists introduced early synthetic polymers, malleable substances produced from coal, crude oil, or cellulose. These polymers, or plastics, quickly found use as cooking vessels, electrical insulators, and building materials. By the end of the 1920s, the plastics industry had established new standards for mass-produced goods that would shape human life for the remainder of the 20th century.
In modern times, plastics encompass a wide range of synthetic substances, including polyvinyl chloride (PVC), polyester, and polystyrene. Plastics can be molded into various shapes, weights, and strengths to serve a multitude of purposes. They are utilized in countless products, including automotive components, insulation and cushioning materials, medical equipment, construction materials, and even footwear and clothing.

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