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Europe’s Recycled Plastics Sector Faces Continued Challenges

by Geraldine S.
02/02/2024
in Compliance, Environmental Policies, Industry, Risk Management, Supply Chain, Sustainability & Ethics

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Mark Victory, an analyst at ICIS, a London-based plastics market research firm, reports that the recycled plastics sector in Europe, particularly for recycled-content polyethylene (rPE) grades, is expected to face tough trading conditions into 2024. This outlook is attributed to the current economic downturn, although the situation is anticipated to show some improvement compared to 2023.

Industry sources predict that the demand for rPE could remain weak at least through the first half of 2024, with a full market recovery possibly not occurring until 2025. This timeline depends on various factors, including the ongoing cost of living crisis and competition from new plastic products.

There is, however, a cautious optimism among recyclers in the recycled-content high-density polyethylene (rHDPE) market, particularly for packaging materials, expecting a modest improvement in the first quarter of the year. Despite this, the packaging sector’s sensitivity to costs has heightened in recent years, and consumption in industries like construction and home improvement continues to be adversely affected by economic pressures.

According to ICIS, the pricing dynamics between virgin resin and recycled materials have led to increased substitution of recycled content with new plastics in 2023, especially in non-packaging applications. This trend is expected to significantly influence the rHDPE market in early 2024.

Victory notes that although the market faces short-term difficulties, there is an underlying shortage of supply. Coupled with a recent streamlining in supply chains, any recovery could rapidly influence market sentiment. However, predictions remain challenging due to the volatile market conditions.

The market for recycled-content low-density polyethylene (rLDPE) is also closely watching the price movements of virgin resin. With virgin prices decreasing towards the end of 2023, there could be implications for the demand for rLDPE, particularly if the trend continues into 2024.

Furthermore, the European Union is poised to introduce the Packaging and Packaging Waste Regulation (PPWR) in February, which sets mandatory recycled content targets for all plastic packaging by 2030. This regulation could also impose restrictions on the use of materials like shrink wrap, a significant end market for rLDPE pellets, unless certain recycling and environmental criteria are met.

The evolving regulatory landscape, highlighted by the draft PPWR and subsequent amendments, has introduced uncertainty within the packaging industry. Stakeholders are seeking clarity as the European Parliament moves towards the final voting stages on these regulations.

Stay current with supply chain report news at The Supply Chain Report. For international trade resources, visit ADAMftd.com.

#RecycledPlastics #rPE #PlasticsMarket #ICIS #RecyclingIndustry #Sustainability #PackagingRegulations #PPWR #EconomicOutlook #CircularEconomy #PlasticWaste #SupplyChain

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