Chemical recycling of plastic packaging and other plastic products presents a $10 billion opportunity to businesses in the US and around the world, according to a report from the American Chemistry Council. Not only that, it has the potential to prevent 6.5 million tons of recoverable plastics from being landfilled each year, which dramatically accelerates our transition to a circular economy. Considering both the economic and environmental drivers, it’s surely an opportunity worth taking.
Your business can capitalize on this rise in demand by buying or selling used plastics through the MaterialTrader.com marketplace.
Advantages of chemical recycling
Chemical recycling has revolutionized the way we recycle plastic, making it a significant driver of the circular economy. Unlike traditional mechanical recycling, which shreds and melts used plastics into regranulate, it breaks down plastics at a molecular level. Because of this, more complex products such as multi-layered food packaging or products made of a mix of materials, dyes, and additives – which mechanical recycling is unable to process – can be recycled. These advanced technologies can help recover and repurpose a much broader range of post-use plastics.
Possibilities for new material outputs
Through chemical recycling, used plastic is converted into new raw materials such as feedstock for new plastics and chemicals, crude oil and lower carbon transportation fuels, and other petroleum products such as waxes and lubricants. In recent years, this recycling method has made significant technological advances that have expanded the range of material outputs it is able to produce. As such, it is now able to meet the demand for several different commodities.
Business opportunities
As the chemical recycling technology makes steady improvements and its range of outputs expands, the demand for chemically recycled materials rises. In turn, the demand for used plastics as feedstock in the recycling process also rises. Your business can capitalize on this rise in demand by buying or selling used plastics through the MaterialTrader.com marketplace. Regardless of your industry, if your business activities accumulate used plastics, they can be sold for a profit on the MaterialTrader.com platform. Conversely, as a reseller or a chemical recycling plant, you can source used plastics directly from the marketplace.
Visit MaterialTrader.com to see the opportunities that plastic chemical recycling can offer your business.