At 2023 FlexPO+ (now incorporated into the ADI Forum, Uday Turaga, CEO, ADI Analytics, discussed how the chemical industry faced challenges in allocating capital towards sustainability and recycling initiatives at a time when capex was declining. However, there was likely to be increased investment directed towards markets with strong demand for recycled materials. Recycled PET is a prime example of a segment experiencing material volume growth relative to virgin materials.
The severe shortage of waste plastic feedstock was a major hurdle for achieving sustainability targets, such as Europe’s 30% recycled content goal. This necessitated substantial investment in infrastructure for waste plastic collection and aggregation. Initiatives like Cyclic’s demonstrated industry efforts to build out this critical value chain, including investments in material recovery facilities (MRFs) and broader recycling infrastructure.
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