7.2 billion euros!

PlasticsEurope has announced a significant increase in planned chemical recycling investments: from EUR 2.
6 billion in 2025 to EUR 7.
2 billion in 2030
.
To further accelerate investment in this key technology and the transition to a circular economy, PlasticsEurope calls for harmonious and strong policy and regulation
.

Chemical recycling recycles waste plastics that are difficult to recycle, incinerate or landfill
.
It provides a lot of recycled material with the properties of virgin plastic
.
It complements mechanical recycling and has great potential for creating high-quality jobs and promoting a climate-neutral and competitive circular economy in Europe
.

Currently, Plastics Europe member countries have invested billions of euros and collaborated with innovative value chain partners to accelerate the implementation of chemical recycling and other leading technology solutions
.
Member companies plan to increase investment in chemical recycling to produce 1.
2 million and 3.
4 million tons of recycled plastic by 2025 and 2030, respectively
.

Dr.
Markus Steilemann, President of PlasticsEurope and CEO of Covestro, commented: "This additional investment confirms the industry's determination to tackle plastic waste and supports the climate and sustainability goals of the EU Green Deal
.
" However, this is just a starting point, and significant investment is required to fully realize the value of this technology
.
"

Colin Yates, Head of Packaging Sustainability at Mars Pet Nutrition, said: “Chemical recycling technology’s ability to convert mixed waste plastics that would otherwise go to landfill or incineration into food-grade resins will provide An important step that will help Mars or other manufacturers achieve a true circular economy for packaging
.
"

Scale-up of chemical recycling technologies to enable broader systemic change requires the support of multiple solutions – feedstock diversification, new infrastructure, business models, new materials, waste prevention and eco-design
.

From an industry perspective, policymakers must also establish policy and regulatory frameworks to provide certainty and incentivize further investment
.
The key is to encourage proper recycling, reuse and recycling of plastic waste pollution through coalitions at the local, national and global levels working with public and private businesses
.

With the EU expected to produce 1.
2 million tonnes of recycled plastic through chemical recycling by 2025, PlasticsEurope is working towards the European Commission's Circular Plastics Alliance's goal of using 10 million tonnes of recycled plastic in European products by 2025
.

Lucrèce Foufopoulos, Executive Vice President and Chief Technology Officer, Borealis Polyolefins & Circular Economy, said, “Based on a unique approach to the circular economy, we believe in adopting and investing in a range of technologies, from mechanical to chemical recycling, to provide the best possible cycle for the value chain solutions with less impact on the environment
.
”