core points
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renewable plastic demand significantly increases
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Active participation of the industry is crucial for achieving cooperation
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Experts say that the ban on waste imports and growing demand are prompting the plastics industry to seek raw material solutions.
This article is part of the 2025 World Petrochemical Conference (WPC) series, in which we will explore the key themes of the 40th World Petrochemical Conference.
As the global demand for recycled plastics continues to rise, experts emphasize that, in light of China's 2018 ban on waste imports, it is necessary to reshape raw material management strategies.
S&P Global Commodity Insights Asia Pacific Polymers Director Feng Shaohua stated at the World Petrochemical Conference on March 20 that the three historically largest plastic waste exporting regions, Western Europe, the US, and Japan, have shifted towards expanding their domestic plastic recycling capabilities.
Europe has made the most significant progress in this area. The amendment to the Basel Convention restricts the export of plastic waste to non-OECD countries, a move that has spurred the development of local recycling infrastructure.
In addition, investment in new technologies is needed to be able to process a wider variety of raw materials and to build infrastructure to increase supply.
The expert panel discussed the scalability of infrastructure and the critical role of technology in processing more plastic waste. These two aspects are crucial for improving the current global plastic recycling rate, which stands at just 9%.
Despite the growth in demand for recycled plastics driven by advanced recycling technologies and brands' commitments to sustainability, raw material management remains a severe challenge.
Waste management company senior director Ganesh Nagarajan pointed out: "We need a positive response from the market." He emphasized that government policies and active participation of the industry are crucial for ensuring the long-term stable supply of recycled plastics in contract signings.
