European plastics manufacturers plan 8 billion euros of investment in chemical recycling

PlasticsEurope announces a significant increase in planned chemical recycling investment: from 2.6 billion Euros in 2025 to 8 billion Euros in 2030. To further accelerate investments in this key technology and the transition towards a circular economy, PlasticsEurope calls for a harmonised and strong policy and regulatory framework.

Chemical recycling allows us to recycle plastics waste which is otherwise incinerated or sent to landfill. It delivers significant quantities of recycled material with virgin plastic properties. It is complementary to mechanical recycling and has a huge potential for creating quality jobs and contributing to a climate neutral and competitive Circular Economy in Europe.

It is estimated that by 2050 nearly 60% of global plastics production could be based on reuse and recycling . Plastics Europe members are already investing billions of Euros and teaming up with innovative value chain partners to ramp up chemical recycling and other leading-edge technology solutions. Our member companies are planning to increase their investment in chemical recycling to produce 1.2 Mt in 2025 and 3.4 Mt in 2030 of recycled plastics.

For more information, please read our press release.

Chemical recycling is a game changer and a key building block of the circular economy – not only in Europe. This increased investment confirms the determination of the industry to address the problem of plastic waste and supports the EU Green Deal’s climate and sustainability ambitions. However, this is just a starting point, and sizeable investments are still needed to fully capture the value of this technology.

Markus Steilemann – Former Plastics Europe President and Covestro CEO