Despite challenges caused by the pandemic starting in March, the first quarter of 2020 showed strong sales for some businesses that use recycled plastic. | Chaosamran_Studio/Shutterstock
Three major recycled plastic consumers recently reported their business performance during the first few months of 2020. They touched on COVID-19, recycled material costs and their outlook for the future.
TerraCycle US sold $5.81 million worth of recycled plastic and other materials in 2019, well over double its net sales from the prior year. | Courtesy of TerraCycle.
This article has been updated.
A car seat recycling deal with a major retailer helped boost TerraCycle’s recovered commodity sales by over $3.5 million last year, according to a financial report.
Natural HDPE inched up this month, but most other post-consumer plastic grades are trading for lower prices.
An industry analyst recently noted that low virgin resin pricing means challenges for ensuring end users choose to use recycled plastic. | batuhan taskinkaya/Shutterstock
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.
The new Recycling Market Development Platform will highlight companies and connect people with tools and information related to recycling. | TippaPatt/Shutterstock
More Recycling and the American Chemistry Council (ACC) this month announced the Recycling Market Development Platform, a website offering information on recycling and material use to stakeholders throughout the recycling value chain.
Indorama noted the company’s investments in recycling are influenced by the fact numerous brand owners are committing to incorporate more recycled plastic in their products. | barbacane/Shutterstock
Resin giant Indorama Ventures will more than triple its global RPET production capacity in the next few years, according to the company’s most recent annual report.
Over the past month, the price of baled PET containers has dropped by 12%, and natural HDPE continues to slide down from the record-high levels seen in January.
S&P Global Platts decided to launch daily spot price assessments for PET bales starting April 1. | Gunter Menzel
Commodities research company S&P Global Platts has started reporting post-consumer PET bale prices in Chicago and Los Angeles.
Regulatory changes, and an overall sense of uncertainty, are playing into difficulty moving scrap materials abroad. | 28 November Studio/Shutterstock
Overseas markets for recovered plastic, including Malaysia and India, are experiencing disruption as governments enact widespread restrictions and close ports in response to the coronavirus pandemic.
In communities around the country, recycling programs are limiting the materials they collect, altering service hours or shutting down altogether. | Oksana Shturo/Shutterstock
Recycling programs nationwide have curtailed service due to the coronavirus pandemic, potentially hampering the supply of scrap plastics moving to reclaimers in the weeks to come.