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Billions pour into bioplastics as markets begin ramping up

CLEVELAND (AP) — Billions of dollars in investments are pouring into companies changing the recipe for plastic. Plastics are typically made with natural gas or crude oil as its basic carbon building block. Making these plastics out of hydrocarbons in petrochemical plants release millions of tons of carbon dioxide annually. Bioplastics plants using renewable materials such as corn, sugar and cooking oil have been built around the world to produce a more environmentally safe plastic. Some bioplastic can dissolve in water or soil under correct conditions while other types can be biodegraded in large industrial composters. Market share for bioplastics is expected to nearly triple by 2028.

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