Platts proposes to launch new European chemically recycled naphtha assessments

Platts, part of S&P Global Energy, is proposing to launch weekly assessments for refinery grade pyrolysis oil, cracker grade pyrolysis oil, and circular naphtha in Northwest Europe, effective Jan. 12, 2027.

Platts has observed continued market interest in chemically recycled naphtha market trends and pricing developments across 2026, alongside projections of increased market scale and capacity in a market that requires stronger transparency through consistent pricing benchmarks which are representative of traded specifications.

Stakeholders consider chemical recycling a key value chain for facilitating increased use of sustainable polymer and chemical materials in European manufacturing. The process is expected to be critical in allowing consumers to meet upcoming recycled content legislation in the plastics sector, such as targets from the European Union's Plastic and Packaging Waste Regulation, which will mandate minimum percentages of recycled content in plastic packaging.

The assessments would reflect the specifications and delivery terms below:

	Refinery Grade Plastic Pyrolysis Oil	Cracker Grade Plastic Pyrolysis Oil	Circular Naphtha
Description	Full range untreated pyrolysis oil with quality acceptable for refinery intake, post-consumer mixed plastic feedstock waste origin	Light cut untreated pyrolysis oil with quality acceptable for steam cracker intake, distilled and diluted from raw PPO, Post-consumer mixed plastic feedstock waste origin	Pyrolysis oil with post-consumer mixed plastics origin, with its quality acceptable for steam cracker intake in more significant volume than cracker grade, that matches fossil grade specification
Specifications	600 degree maximum final boiling point, 4,500 ppm maximum nitrogenates, 5,000 ppm maximum oxygenates, 250 ppm maximum chlorides	360 degree maximum final boiling point, 50 ppm maximum silica, 500 ppm maximum nitrogenates, 1,000 ppm maximum oxygenates, 80 ppm maximum chlorides	Reflects open specification material, in line with Platts fossil naphtha methodology, ISCC+ certified
INCO Term	DDP NWE	DDP NWE	DDP NWE
Cargo size, delivery method	20-24 mt, delivered via isotank	20-24 mt, delivered via isotank	20-24 mt, delivered via isotank
Laycan	10-25 days forward	10-25 days forward	10-25 days forward

The proposed assessments, along with their corresponding monthly averages, will be published in both $/mt and Eur/mt, time-stamped at 16:30 London time, and would appear on S&P Global Energy Core, in European Marketscan and Sustainable Polymerscan, and on fixed pages PGA1110, PGA1111, PGA1310, PGA1311, PCA503 and PCA441.

Please send any comments or feedback by Dec. 7 to PL_LightendsEurope@spglobal.com, europe_products@spglobal.com, petchems@spglobal.com and pricegroup@spglobal.com.

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