According to Plastics Recyclers Europe (PRE), the plastics recycling industry in the region is facing production shutdown due to decreased global activity and converting plant closures amid the coronavirus pandemic. Besides, the health crisis created a collapse in oil prices which pushed virgin plastic prices to record lows.
The current market developments can threaten attainment of EU recycling targets, and the transition toward circular plastics. said PRE President Tom Emans. With converting plants shutting down, more recyclable plastic wastes will instead go to landfill or incineration.
Weakness in the recycling market would, in turn, create environmental consequences and socio-economic impacts. PRE noted that the industry employs a massive number of workforces across the waste management value chain. The group also urged EU member states to include the recycling industry in their economic recovery plans to maintain measures to achieve the circular economy.
