Parc Corp. to strengthen plastic recycling in China

GUANGZHOU (Commodity Online): China serves as a huge market for plastic wastes from US and UK. China acts as a key market for recovered metals, paper and plastics with majority of recycling activity for imported materials along its East coast.

There is very strong demand in China for recycled plastic, particularly PET plastic which is used for fiber applications, and HDPE plastic used for making carrier bags, pipes, containers, and a variety of household products such as pipes, crates, bottles and films.

The British and US plastics industry do admit that the global trade is starving some local recycling initiatives of materials and putting established firms out of business or at risk. However, a major American plastics recycler is helping a Chinese company to collect and recycle more plastic generated in China.

Parc Corp. is joining hands with a major recycler in Qingdao, Shandong province, to boost local material recycling and supply sustainable materials to the booming electronic appliances and auto sectors.

Qingdao’s New World Group, has been selected by China’s National Development and Reform Commission and the Ministry of Finance to create a national exemplary recycling base. When completed, the project is expected to be able to recycle 3 million units of electronics and appliances, 100,000 auto vehicles, 100,000 tons of tires, among other things.

Concerns are being raised particularly in the US and European as the concentrated end markets currently leaves the domestic plastic recyclers and reprocessors vulnerable to price changes and uncertainty. Efforts for the development of a portfolio of end markets are being suggested which would also support the domestic capacity.