Plastics

[New] The roadmap, supported by UK Plastics Pact members, aims to help the Pact meet its targets by 2025 and ensure that more than the current 4% of flexible plastic, which accounts for a quarter of all UK consumer plastic by weight, is recycled.
[New] Clothing companies and brands are encouraged, but not mandated, to: 1) achieve zero greenhouse gas emissions by 2050, 2) restore natural ecosystems and protect species, and 3) reduce the use of single-use plastic.
[New] The market for plastic packaging is projected to grow by 5.5% in 2020, causing a surge in the amount of waste being sent for recycling.
Absent major changes in plastic waste management, the amount going to the oceans, will nearly triple by 2040, from 11 million metric tons to 29 million tonnes.
While the recommended system change scenario offers a potential plastics reduction of 80%, it will take unprecedented levels of action - and even then, will still leave more than five million metric tons leaking into the ocean each year in 2040.
All the efforts made and announced so far to cut plastic waste, by governments and companies, will reduce projected volume by only about 7% by 2040.
If no action is taken to address the projected growth in plastic production and consumption, the amount of plastic entering the ocean each year would grow from 11 million metric tons to 29 million metric tons over the next 20 years.
The global plastics and rubber products market is expected to decline from $1378.6 billion in 2019 to $1345.4 billion in 2020 hitting the Asia Pacific region especially as it is the largest plastics and rubber products market internationally.
Through the American Chemistry Council, America's plastic makers have established a goal of making all plastic packaging used in the United States recyclable or recoverable by 2030.
UK Plastics Pact members account for around 85% of all plastic packaging on UK supermarket shelves and are working towards making their plastic packaging reusable, recyclable or compostable by 2025 and increasing recycling rates to 70%.
Consumers around the world buy a million plastic bottles a minute and plastic production is set to double in the next 20 years and quadruple by 2050.
Some major industry sectors in North America will experience moderate declines in end market demand for plastics products, while others will enjoy moderate increases in market demand.
Europe plans to ban all single-use plastics starting next year.
The plastic bottles market was valued at USD 159.68 billion in 2019 and is expected to reach USD 240 billion by 2025, at a CAGR of 5.5% over the forecast period 2020-2025.
ReSource: Plastics aims to enlist 100+ companies by 2030 in order to reach WWF's ultimate goal of preventing at least 50 million metric tons of plastic waste from entering nature.
The pollution problem is only getting worse: According to the consultancy McKinsey, plastic waste may grow from 260 million tons per year in 2016 to 460 million tons by 2030.
The EU's circular economy package sets a plastics recycling target of 55% by 2030, and it wants to see 10 million tonnes of recycled plastics used in products in Europe by 2025.
The UK government has a 2022 vision for increased use of recycled plastic in packaging, as evidenced by the Plastic Packaging Tax that will be enforced with financial penalties.
Government policies should immediately call for bans on non-essential plastic packaging rather than working to a target of eliminating avoidable plastic waste by the end of 2042 as the UK's 25 year environmental plan currently indicates.
Enhancing plastics recycling could help save scarce resources, create jobs and reduce environmental impacts.
The four Australian targets, to be achieved by 2025, are: - 100% reusable, recyclable or compostable packaging - 70% of plastic packaging being recycled or composted - 30% of average recycled content included in packaging - The phase out of problematic and unnecessary single-use plastics packaging.
Allied Market Research estimated the market to cross US$ 68.5 billion by 2024, the period that is targeted by a number of companies such as shoe maker Adidas; and economies like the European Union to increase use of recycled plastics, while cutting down use of fossil-based plastics.

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Last updated: 09 August 2020