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The latest statistics from S&P Global Platts show that on June 30, the premium of recycled PET (R-PET) transparent flakes in northwestern Europe relative to virgin PET hit a record high, and the prices of the two materials are still polarizing
.
According to data from the European Plastic Recyclers Association (Brussels), there is a great potential for recycling PET in Europe
The pressure on the price of virgin PET comes from both supply and demand
.
Weak buying interest cannot improve supply
Market reports from buyers and sellers show that although the factory is operating as close as possible to 100% in actual conditions, the output in July is still not enough to supply all the demand
.
R-PET transparent flakes rose by 100 euros/ton on the same day, and the final price closed at 1400 euros/ton
The source predicts that by the end of summer, the supply of R-PET will improve, but as more virgin PET and more bottles are on the market during the rest of the summer, recyclers are purchasing post-consumer PET bottle bags.
It is still facing severe restrictions for use by factories
According to data from the European Plastic Recyclers Association (Brussels), the European PET recycling capacity is 2.
1 million tons
The relevant person in charge of the association said: "Considering the unused device capacity, the European PET recycling market has a lot of room for growth, but in order to achieve a higher recycling rate, it is necessary to increase the collection rate and improve the quality of waste
.
"
Currently, an average of 55% of PET bottles in Europe are recycled
.
As stipulated by the Waste Packaging Law, by 2030, all participants in the plastics industry must cooperate and implement the necessary measures to achieve a 57% recycling rate
New projects and commercial developments initiated by the industry, such as recycling PET pallets, paved the way for achieving these goals
.
These new developments, combined with favorable investment, will promote the continuous growth of European recycling capacity
The person in charge said: "PET recyclers have a strong desire to increase the output of recycled materials, but at present, we are working hard to find enough high-quality waste
.
"
