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The plastics industry has a key role to play on a game-changing path towards a low-carbon future. Reducing the industry’s greenhouse gas emissions during the manufacturing phase of chemical products is one important part of this contribution. Therefore, the plastic sector will contribute to a sustainable future through supporting high efficiency processes and products throughout the value chain.

However, accounting these efficient processes and products which reduce greenhouse emissions and wastes can be complex task and not always easy and straightforward. The majority of plastic products are part of an assembly or more complex end products. This leads to challenges when quantifying the emission reductions enabled by chemical components.

Introduction and Background

The plastic industry is committed to support a circular economy. Companies today are actively pursuing sustainable material solutions to help them meet their sustainability goals and lower their environmental footprint. As investors and manufacturers seek new market opportunities for growth in the plastic sector, one of the portfolios attracting attention is the expanding portfolio of green plastics.

Across the plastic industry, efforts are being made to expand the use of recycled and bio-attributed materials, and there is a growing base of customers using these innovative, and sustainable raw materials today. These materials are created to be a drop-in solution and offer the same versatility as conventional chemicals.

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Data Bridge Market Research analyses that the global post-consumer recycled plastics market which was USD 15.05 billion in 2022, is expected to reach USD 15.96 billion by 2030, and is expected to undergo a CAGR of 6.03% during the forecast period of 2023 to 2030.

To know more about the study, visit: //baronmoving.com/reports/global-post-consumer-recycled-plastics-market

Understanding Post-Consumer Recycled (PCR) Content

PCR stands for post-consumer recycled. PCR resins are made from materials that have been used by the consumer and then discarded. Post-consumer recycled content, commonly referred to as PCR, and is produced from materials recycled by consumers, such as water bottles or other plastic materials collected by local recycling programs or through store drop-off locations. These materials are converted into resin pellets and used to manufacture other plastic products or chemicals.  PCR is a great way to support a circular economy and reduce the use of virgin resin.

Increased sustainability is one of the primary benefits. Many companies have committed to sustainability targets which include decreasing the use of virgin plastic, increasing the use of recycled content, and aiming to make all plastic packaging 100% reusable, recyclable, or compostable.

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For instance,

Innovations in Chemical Processes for PCR Content

Chemists and researchers around the globe have suggested remarkable technologies and innovations in their respective fields.

Below are the few technologies and innovations:

Partnerships around the world are increasing the quality of the waste value chain and providing a dependable, consistent flow of desirable post-consumer recycled (PCR) content.

Sustainable Value Chain

Various chemicals manufacturing companies are integrating circular economy principles with innovation and advance technology across the value chain. These technologies help the product life cycle to maximize resource use, boost recycling, minimize greenhouse gas emissions, and meet the needs of customers and environmentally conscious consumers.

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Resources and Raw Material Management

Development of Products, Services, and Solutions

Advance Production Processes Management to Reduce Pollution and Waste

Product Usage and Recycling

Innovations for Circular Economy

Circular economy is a crucial concept in addressing waste management, ocean waste, global resource scarcity, and climate change. One of the key principles of the circular economy is to minimize waste, maximize resource utilization, and use renewable raw materials for the production of products and services. Various strategies are needed to reinforce to achieve circular economy across the entire supply chain. These strategies include:

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The companies also strives to create an end-to-end circular system for plastic products through various awareness-building activities, both internally and externally.

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Data Bridge Market Research analyses that the global recycled plastic market is growing with a CAGR of 4.6% in the forecast period of 2023 to 2030 and is expected to reach USD 39,458,951.91 thousand by 2030. The growing use of recycled plastic in various industries has been the major driver for the global recycled plastic market.

To know more about the study, visit: //baronmoving.com/reports/global-recycled-plastic-market

Market Trends and Consumer Demand

One of the key trends in the PCR plastics market is the increasing adoption of recycled plastics in packaging applications. Many companies are now incorporating PCR plastics into their product packaging to achieve sustainability goals and appeal to eco-conscious consumers. The demand for PCR plastics in industries such as food and beverage, personal care, and household products is on the rise.

Plastic is used for packaging of almost every type of product from food and drinks to cleaning supplies and durable goods. In order to ensure that recycled plastic used in food contact applications is safe for consumers, the U.S. Food and Drug Administration (FDA) has a means for reviewing recycling processes used by recycled resin producers. The FDA evaluates the processes, test results and the proposed conditions for the use of the plastic to ensure that any contaminant concentrations do not migrate from plastic into food and result in dietary concentrations that exceed a negligible threshold (less than 0.5 parts per billion).

Data Bridge Market Research analyses that the global plastic packaging market which was USD 374.61 billion in 2022, is expected to reach USD 502.51 billion by 2030, and is expected to undergo a CAGR of 3.74% during the forecast period of 2023 to 2030. The packaging industry has experienced notable expansion, driven by increasing demand in key sectors such as food, beverage, cosmetics, personal care, and pharmaceuticals.

To know more about the study, visit: //baronmoving.com/reports/global-plastic-packaging-market

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Suppliers are also developing solutions that use various manufacturing techniques to embed recycled materials between layers of virgin materials. These layering techniques can be implemented for both rigid and flexible packaging solutions.

For instance,

Another trend is the integration of advanced technologies in the recycling process to improve the quality and consistency of PCR plastics. Innovations such as state-of-the-art sorting and cleaning equipment are helping to reduce contamination and enhance the performance of recycled plastics. These advancements are expected to further drive market growth.

The Post Consumer Recycled (PCR) content market encounters specific restraints that shape its dynamics. One significant challenge is the inconsistency in the quality and availability of post-consumer recycled materials. The variability in feedstock composition, contamination levels, and processing methods can result in PCR resins with different properties, affecting their suitability for certain applications. In addition, market players face challenges related to the collection and sorting of post-consumer recyclables, which can impact the overall supply chain for PCR resins. Adapting to quality variations, investing in advanced sorting and recycling technologies, and promoting standardization become crucial for overcoming these challenges and ensuring the market's sustainable growth.

The post-consumer recycled plastic packaging (PCR) market will grow at a rate of 6.4% in the forecast period of 2021 to 2028. Rising government initiatives toward PCR plastic packaging is an essential factor driving the sustainable plastic packaging market.

To know more about the study, visit: //baronmoving.com/reports/global-post-consumer-recycled-plastic-packaging-pcr-market

Case Studies: Chemical Companies Leading in PCR Content Innovations

Increased demand across the globe primarily stems from the sustainability targets of consumer brand companies, such as Coca-Cola, Unilever, Nestle and many more. These companies have committed to incorporating post-consumer recycled (PCR) content into their packaging over the next 5-10 years, some with recycled content up to 100%.

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In ChemCycling, BASF SE uses recycled feedstock derived from plastic waste for our broad Ccycledproduct portfolio. The recycled feedstock is attributed to the certified Ccycled products through a mass balance approach. BASF SE customers have successfully introduced Ccycled products in various industries such as (food) packaging, medical, textile and automotive

Emerging Government Policies and Sustainability Initiatives

Government regulations and initiatives aimed at reducing plastic waste and promoting recycling are expected to fuel the market. The implementation of stringent environmental policies and the introduction of extended producer responsibility (EPR) schemes are creating a favorable environment for the growth of PCR plastics.

Strong government policies do indeed make a difference and are driving growth of innovation in green chemistry across multiple sectors. New policies such as the European Commission’s Chemicals Strategy for Sustainability, state policies in the U.S., and implementation of the Lautenburg Chemical Safety for the 21st Century Act in the U.S. have created strong regulatory signals to the marketplace that are influencing investors. A greater number of investment houses outside of the traditional ESG sector are making significant inroads into the green chemical space, such as Carlyle’s acquisition of Beautycounter.

Owing to investor and consumer pressures multinational corporations are working on efforts to market more sustainable and green chemistry products including the world’s chemical companies.

Conclusion

Demand for post-consumer recycled (PCR) content is far exceeding supply for these materials. The future outlook for the PCR plastics market looks promising, with continued investment in recycling infrastructure and increasing adoption of sustainable practices by industries and consumers.


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