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Chemicals, Polymers
March 21, 2025
By Tareen Kazi and Ricardo Plata iii
HIGHLIGHTS
Demand for recycled plastics increases significantly
Industry commitment essential for contract formation
This content is part of the WPC 2025 series, in which we explore key themes from the 40th annual World Petrochemical Conference.
As global demand for recycled plastics rises, experts emphasize the need to reshape feedstock management strategies in response to China's 2018 waste import ban.
Western Europe, the US, and Japan -- historically the top three plastic waste exporters -- have turned to expanding domestic recycling capabilities, said Shaohua Feng, Director of APAC Polymers at S&P Global Commodity Insights, during the WPC conference on March 20.
Europe has seen the most progress, supported by the Basel Convention amendment that restricts plastic waste exports to non-OECD countries, reinforcing local recycling infrastructure.
Additionally, investments in new technology are needed to accept a variety of feedstock and develop infrastructure to increase supply.
The panel discussed the scalability of infrastructure and the vital role of technology in processing additional plastic waste. These two areas are crucial for increasing the global plastic recycling rate, which currently stands at 9%.
Despite rising demand for recycled plastics, driven by advanced recycling technologies and brand sustainability commitments, feedstock management remains a critical challenge.
"We need commitment from the market," said Ganesh Nagarajan, senior director at Waste Management, highlighting that government policy and industry commitment are essential to ensure that recycled plastics have longevity in contract formation.
Related content: INTERVIEW: Recycled plastic not expected to reach virgin resin prices, but to be affordable: AVN CEO