AMI Forecast: Plastic Recycling to Double In the Next Decade

SEATTLE (Scrap Monster): The latest report published by Bristol, UK-based Applied Market Information Ltd. (AMI) forecasts substantial jump in plastic recycling volumes over the next decade. The volumes are expected to double by 2030, boosted by notable surge in plastic sorting and recycling capacities by developed countries of the world.

According to the report, a total of 77 million metric tons of recyclable plastic will be generated by 2030. This is almost double the volume recorded in 2019, when only 35.7 million metric tons of plastic scrap was converted into new products.

ALSO READ:

Coca-Cola Nigeria Boosts Plastics Recycling Initiative

New Research to Understand Plastics and Its Impact

The report titled, “The Global Mechanical Plastics Recycling Industry 2020 – Capacities, Capabilities and Future Trends.”, states that Covid-19-related slowdown is likely to affect volumes during the three-year period from 2020 to 2022.

The report provides market data for 2019, 2020 and 2021 and forecasts to 2025 and 2030. It offers independent quantitative analysis of the global mechanical recycling industry. It evaluates the current capacity by region and attempts to quantity the market for recycling. A review of the end use applications for recyclate is also provided.

The fall in plastic scrap imports by China was compensated by other importers in Southeast Asian region.

The policies and legislations set forth by various national governments across the globe have helped a lot in boosting recycling of plastics.