Metallurgy / Chemicals / Rubber & Plastics

Recently, the European Plastics Association (PlasticsEurope) announced a substantial increase in planned chemical recovery investment: from 2.6 billion euros in 2025 to 7.2 billion euros in 2030. To further accelerate investment in this key technology and the transition to a circular economy, PlasticsEurope calls for harmonious and strong policies and supervision.

Chemical recycling can recycle waste plastics that are difficult to recycle, directly incinerate or landfill. It provides a large amount of recycled materials and original plastic properties. It is a complement to mechanical recycling and has great potential in creating high-quality jobs and promoting a climate-neutral and competitive circular economy in Europe.

At present, the member states of Plastics Europe have invested billions of euros and cooperated with innovative value chain partners to accelerate the implementation of chemical recycling and other leading technological solutions. The member companies plan to increase investment in chemical recycling and produce 1.2 million tons and 3.4 million tons of recycled plastics by 2025 and 2030, respectively.

Dr. Markus Steilemann, President of PlasticsEurope and CEO of Covestro, commented: “This additional investment confirms the industry’s determination to solve the problem of waste plastics and supports the climate and sustainable development goals of the EU Green Agreement.” However, this is only a starting point. To fully utilize the value of this technology, a lot of investment is required. "

Colin Yates, Head of Packaging Sustainability at Mars Pet Nutrition, said: “Chemical recycling technology can convert mixed waste plastics that were originally landfilled or incinerated into food-grade resins. An important step will help Mars or other manufacturers to achieve a true packaging circular economy."

The large-scale chemical recycling technology and the realization of broader systemic changes require the support of multiple solutions-raw material diversification, new infrastructure, business models, new materials, waste prevention and ecological design, etc.

From an industry perspective, policymakers must also establish a policy and regulatory framework to provide certainty and incentivize further investment. The key is to cooperate with public and private companies through alliances at the local, national and global levels to encourage proper recycling, reuse and recycling of plastic waste pollution.

It is estimated that by 2025, the EU will produce 1.2 million tons of recycled plastics through chemical recycling. PlasticsEurope is working hard to achieve the European Commission’s goal of the European Commission's Recycling Plastics Alliance, which is to use 10 million tons of recycled plastics in European products by 2025.

Lucrèce Foufopoulos, Executive Vice President and Chief Technology Officer of Borealis Polyolefins and Circular Economy, said, “Based on the unique method of circular economy, we believe in adopting and investing in a range of technologies, from mechanical recycling to chemical recycling, to provide the best recycling in the value chain. The solution has less impact on the environment."