Lately I have seen discussion about the future of plastics demand saying some “fundamental change” has occurred in the last few years which means that we need to rethink where our industry is positioned. I’m not convinced.

During 2022, recycled plastics were a market of almost 50 million tonnes industry around the world, accounting for 13% of the world consumption of resins. However, these levels will increase substantially in coming years, reaching over 18% of world plastics use by 2030.

In 2021 I suggested that Europe was reaching  "peak plastics" in terms of the use of virgin polymer – and the general reaction was that this was untrue. However, current trends leave me increasingly convinced that it is the reality the industry faces.

In 2021 China’s plastics industry was bottom of the world polymer industry growth charts in terms of production – and the situation may not be that different in 2022.

The plastics compounding industry is not immune from the significant changes impacting plastics materials; indeed, the evolution of the market will benefit from a number of the dynamic influences changing the market.