Chemical recycling struggles to prove itself to skeptics -USA

Posted on July 7, 2023 by DrRossH in Plastic Recycling

A splashy success story could sway skeptical investors and policymakers with a tangible example of how the technology can work, proving the case that it should get more funding and support.

Source: Chemical recycling struggles to prove itself to skeptics | Plastics News

“Advanced recycling is a great opportunity for us but it takes time to set up the capacities,” Wallace said. “We’ve been working with industry partners to try to find availability of materials that can then flow through to us.”

He said supply problems are industry-wide.

“This is driving a tremendous amount of demand for high-quality recycled content,” Wallach said.

But he also suggested government policy could increase supply, including from deposit return systems, “pay-as-you-throw” municipal curbside systems that charge residents more for waste disposal than recycling, and extended producer responsibility programs for packaging.

A 2022 McKinsey study said advanced recycling could grow from its very small levels today up to 8 percent of global plastics demand by 2030, if significant investments are made.

“Advanced recycling could satisfy 4 to 8 percent of total polymer demand by 2030 and would require the deployment of more than $40 billion in capital investment over the next decade,” the study said. “Although that may seem like a small portion of the total market for plastics, it demonstrates significant growth over today’s near-zero percent.”