Ecoprog has released its third edition of the market report on Chemical Recycling, reflecting the dynamic nature of the industry.
The report tracks over 40 active plants and more than 100 projects globally, with nearly 20 projects currently under construction.
According to the business’s latest market report, there are currently over 40 operational chemical recycling plants worldwide, with over 100 additional projects in the planning stages.
Plants
The report shows over the next two to three years, engineers anticipate the commissioning of nearly 50 new chemical recycling plants, with a majority located in Europe. This period will test the feasibility of technical solutions and their cost-effectiveness.
The legal framework surrounding chemical recycling, particularly in the EU, is equally crucial according to the report.
The report centres on the calculation methodology for recycling performance, with implications for regulatory compliance and market dynamics. The adoption of the ‘Fuel Use Exempt’ calculation method, favoured by the chemical industry, could allow the inclusion of pyrolysis oil as recycled plastic, potentially diluted with naphtha from fossil sources.
Conversely, the ‘Rolling Average’ approach, advocated by environmental associations and the material recycling industry, may yield lower recycling quotas in practice.
The market report provides an analysis of technical foundations, market drivers, project status, and competition in the chemical recycling sector worldwide. It serves as a valuable resource for stakeholders seeking insights into this evolving landscape.
Ecoprog is a consultancy specialising in environmental and energy technology and offers advice in market analysis and strategic planning.
To find out more about changes in the sector, visit the National Letsrecycle.com Conference on 6 June at QEII Centre in London. To book tickets to attend or for more information please click here.
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