Plastic Recycling and Sustainability Challenges

The plastic industry is facing challenges and opportunities in recycling and sustainability. Chemical recycling, although touted as a solution, lacks the ability to significantly reduce plastic pollution and can support the expansion of plastic production. However, there are concerns about the lack of transparency and failure to achieve production targets. Meanwhile, the global plastic recycling solutions market is projected to reach USD 114.5 billion by 2030, driven by environmental concerns and government regulations. The market is crucial in addressing plastic waste and contributes to a more circular and responsible economy. Additionally, the global thermoformed plastics market is expected to reach USD 62.58 billion by 2030, driven by demand for lightweight and durable packaging solutions.