About 26% of the top 100 brands say they want to cut back on plastics, according to Daniel Nordigarden of McKinsey & Company.
If demand for plastics follows its current trajectory, the global volume of plastic scrap can grow “extremely,” Recycling International heard at a recent paper and plastics processing conference in Barcelona. “According to forecasts, these figures will grow from 260 million tons per year in 2016 to 460 million tons per year by 2030,” Nordigard reports.
Currently, an estimated 15% of the world’s plastic scrap is recycled. If it could be brought up to 50%, the plastics processing sector (including petrochemical solutions) could exceed 55 billion euros per year, says Nordigarden. This is a pretty big leap compared to the level of 2018, when revenue was a little over 37 billion.
He adds that most (60%) of the top 100 brands welcome recycled content. About 40% of them want to invest heavily in innovation to achieve an “industry shift” towards sustainable products. Nordigarden mentions the Closed-End Fund competition, which brings together more than 400 leading manufacturers, as a means of selling more rounded products.
“Plastic is not necessarily a problem,” said Victor Sants, CEO of paper and packaging maker Saica Natur. “The real problem is the imbalance between plastics and innovation – in particular, sustainable design and reusability,” he notes. ‘That’s why Saica is all about dispersing round plastics.’