Coronavirus shutdown impacts have converged with low virgin plastic prices to spell significant struggles for European plastics reclaimers, according to a trade association.
Plastics Recyclers Europe (PRE) reports reclaimers are ceasing production because of current market conditions. They’re facing a lack of demand for recycled resins because of closures of converting plants, record low prices for prime plastic and decreased global economic activity.
PRE is asking the European Union (EU) and individual countries to include recycling in their recovery plans.
“If the situation is to persist and no actions are taken to remedy the sector, plastics recycling will cease to be profitable, hampering the attainment of the EU recycling targets and putting in jeopardy the transition towards circular plastics,” Ton Emans, PRE’s president, stated in a press release.
More stories about Europe
- Industry group: Help us find the scrap volumes we need
- Indorama set to commercialize PET tray recycling process
- High-tech mechanical recycling facilities come to Europe