Asia ranks top in plastics innovation as global policy developments drive growth
08 Aug 2023 --- A new report by GovGrant reveals innovation in plastic technology has more than tripled since 2015, following global legislative action and policy initiatives to tackle plastic waste, with Asia ranking as the “world leader” in plastic innovation.
According to the latest figures, plastic innovation has increased threefold in little over half a decade following international legislation such as the 2015 Paris Climate Agreement.
China and Japan account for approximately half of all patent applications in the past two decades. Europe ranks second, with Germany in the top four for patent filings and the UK ranking seventh.
The report, created by UK Patent Box experts GovGrant, analyzed all global patent filings in the past two decades, highlighting the countries driving innovation activity in the area. Data highlights the need for increased investment in plastic innovation in the UK to close the gap between the nations.
Patent filings can indicate the level of innovation in a particular technology area, explains the tax relief specialist. It finds that patent filings were relatively stable between 2001-2015, with an upsurge in filings starting in 2015.
GovGrant, a Source Advisors company, is a specialist market innovation and R&D tax relief. The company ensures that innovation is recognized and receives the full range of innovation tax incentives, helping businesses to maximize the value of innovation by claiming R&D and patent box tax relief and intellectual property services.
China and Japan leading
Possible drivers for increased innovative activity over the last eight years may have been a combination of legislative action, such as the Paris Climate Agreement, and policy initiatives, such as the single-use plastic bag charge adopted by various countries, notes GovGrant.
The figure shows a breakdown of patent filings (accumulative volume) by country up to 2021. This gives a geographical representation of where inventions related to plastic packaging and recycling are being developed.
The figure shows the number of patent filings relating to plastic packaging and recycling between 2001-2021 (Image credit: GovGrant).
The company notes that filings from China tend to top the charts for most technology areas. In 2021, China accounted for approximately half of all global patent applications.
GovGrant adds that not all plastic is bad, and plastic should not be associated entirely with being bad. “The use of plastics is vital in a number of industries and provides an important contribution to the way we live our lives,” writes the report.
For example, in medicine, the use of plastics is important as it is an easy material to clean and sterilize. Its durability and light weight make it ideal for medical devices and prosthetics, improving the quality of life for many.
Meanwhile, the UK ranks seventh for plastic packaging and recycling, although it may be among the top filers. GovGrant says that this finding suggests that the UK could do more to become a world leader in this area.
Policy initiatives play a role in reducing plastic waste globally, finds policy lead at GovGrant, Thaman. UK’s growth potential
The UK market is taking steps to grow influence in the packaging and recycling area, following recent announcements of a further £3.2 million (US$4 million) investment in UKRI’s Smart Sustainable Plastic Packaging, representing the largest UK government investment in sustainable plastic packaging.
GovGrant identifies rubber composition as the leading technology in the UK, with over 30 filed technologies, followed by particles and flexible containers. These technologies attempt to reduce the persistence of plastic products, enabling plastics to decompose better or be recycled.
Akshay Thaman, IP consultant and policy lead at GovGrant, says: “Policy initiatives, alongside innovation, play a role in reducing the impact of plastic waste globally. The increased policy measures to curb avoidable plastic waste, and the increase in innovative activity in this area, suggest that there is political and societal pressure for novel solutions. The increase in innovative activity also suggests that this is becoming an increasingly competitive market and one that is still developing.”
Raffi Schieir, Prevented Ocean Plastic’s director, says: “Innovation in plastic technology is crucial, as businesses try to reduce their environmental impact and carbon footprint, but the single biggest area where they can have an immediate effect is to accelerate their use of recycled material.”
“Many companies are falling behind in the race to meet their 2025 commitments, but the ones at the forefront are the true innovators. The [UK] government is taking gradual steps with their plastic tax and the development of EPR regulations, but these efforts don’t go far enough, as most businesses still find it easier to pay these taxes than improve their methods.”
By Natalie Schwertheim
