The European Plastics Sector Still Looks to be Approaching ‘Peak Plastics’
I remarked in 2021 that Europe was reaching ‘Peak Plastics’ in terms of the use of virgin polymer and the general reaction was that this was untrue. It is interesting to note that current trends make me more and more convinced that it is the reality the industry faces.
The onslaught of legislation demanding the prohibition of plastics in single use applications, the pressure to use recycled materials in as many areas as possible and the desire of major brands to incorporate this reality into their sustainability strategies will see virgin polymer demand decline for the foreseeable future. The graphic below illustrates my considerations in this area.
European Polymer Demand to hit ‘Peak Plastics’ Between 2020-2030 | Global Plastics Industry Seminar Report 2022
© BPI Publishing International Ltd.
The more interesting question here is, to what extent will the rest of the world will follow the lead of the European market? It is clear that a combination of legislation and consumer pressure will shape the market, yet the rate of change will vary remarkably depending on which area of the world you are looking at.
In some geographies waste systems will need to improve significantly to achieve these environmental aims; in other areas, the education of consumers is also lacking. The final consideration is the need to install a significantly larger recycling capacity – and this will take time.
European Plastics Waste in 2022 | Global Plastics Industry Seminar Report 2022
© BPI Publishing International Ltd.
European Plastics Waste in 2030 | Global Plastics Industry Seminar Report 2022
© BPI Publishing International Ltd.
However, the move to restrict plastics – and a resulting decline in use – will take hold in all the world over the next fifteen years.
During the Global Plastics Industry Seminar, I will share my views on each polymer and each world region in terms of prime polymer and recycled resin demand for the coming years.
My conclusion? We are in for an exciting future.