The rapid development of technologies such as 5G communication, the Internet of Things, artificial intelligence (AI), low altitude economy, 3D printing, and the rise of intelligent living and new energy vehicles will constantly increase the market's requirements for material performance, which will promote the innovation and development of the modified plastics industry.

According to the statistics from 1949 to 2018, the recycling and reuse rate of waste plastics in China is only 30%, about half of the waste plastics are incinerated or buried with domestic waste, and the remaining 20% or so enter the natural environment without any treatment. It can be seen that the treatment status of waste plastics in China is very serious and needs to be improved.