Plastic Recycling Market Hurt by Market Forces

An article posted May 5, 2020 on the home page of Resource Recycling magazine notes that “… The coronavirus pandemic has piled on top of existing plastics recycling market strife to cause pricing fluctuations and create uncertainty about how end users will meet their sustainability commitments. Recycling markets for nearly all materials have been challenged for the past few years due to shifts in overseas demand. Additional pressure has come from tariffs on recycled materials and other goods, as well as ongoing strife in the freight market. Now, the coronavirus pandemic has added health and safety concerns, employment shortages and a general slowdown in manufacturing … For plastics, the coronavirus impact has come historic drops in oil prices, meaning virgin plastic could be significantly cheaper than recycled resin for the foreseeable future … Recycled plastics markets are going to be pressured by prime prices for at least the next two years …” #Recycling #PlasticWaste #PlasticPackaging #Sustainability #SingleUsePlastic