BIR World Mirror Focuses on Plastic Recycling Challenges

SEATTLE (Scrap Monster): The BIR World Mirror on Plastics-October 2023 edition highlights the struggles faced by plastic recyclers.

According to the report, low prices and high stocks have badly hit plastic recyclers in the European countries, with no relief seen in the short term. Recyclers were forced to offer huge volumes of recycled material at extremely reduced prices. These materials now form part of inventories by major producers, which in turn suggests that the prices are likely to remain low in the near future.

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The competitive prices of prime materials have made brand owners prefer them to recycled materials. They are seen accumulating prime materials, even by paying levy, for use instead of recycled materials. The producers have even hiked product prices to cover this additional cost, the BIR report noted.

Several manufacturers in Germany have reported high stocks of recyclates. The prices of certain low-end plastic scrap have fallen significantly in China. The progress in extended producer responsibility (EPR) schemes in Vietnam, the Philippines and Indonesia will likely boost collection rates.

Rabobank predicts 10-15 folds expansion in South East Asian rPET market by the end of the current decade, BIR said.