LyondellBasell, one of biggest plastic and chemical companies on the planet, has stepped into the plastics recycling sector for the first time. A high-level executive recently explained what drove the decision.
A $20 million New Jersey plastics recycling facility is in development, and project leaders say it will process roughly 100 million pounds of scrap plastics per year for sale into a variety of end markets.
China’s top environmental official has quantified the reduction in scrap materials flowing into the country as a result of recent restrictions. He also spoke publicly about the market fallout and the criticism China has received for enacting its reforms.
Last year presented an upheaval in the global recovered plastics market, and the impacts continue to roll in. Three experts recently shared their thoughts on the specific causes of the volatility.