LONDON, March 27, 2024 /PRNewswire/ -- ICIS, a global source of commodity intelligence, is pleased to announce, together with Plastics Recyclers Europe, Petcore Europe, UNESDA and NMWE, the launch of the State of Play 2024 study, offering a detailed examination of the PET market in Europe in 2022. The study, conducted in collaboration with industry leaders and organisations, provides valuable data, trends, and future scenarios for the PET market, including insights into challenges and opportunities within the supply chain.
The comprehensive study includes data for the 27 EU member states plus Norway, Switzerland, and the United Kingdom and covers various aspects of the PET market, including PET production and demand, waste management operations, recycling infrastructure, legislative developments, and the role of key stakeholders in driving sustainability.
Key highlights of the State of Play 2024 study include:
- PET collection rate in 2022 increased to 60%, from the total of 5 million tonnes of PET resin utilised in the region.
- European extrusion capacity for rPET pellet production doubled to 1.4 million tonnes in 2022.
- Existing European recycling capacity is deemed sufficient to meet short-term targets, with around 800,000 tonnes of rPET required to meet the SUPD mandatory recycled content targets for 2025.
Despite the positive progress, the study identifies regional disparities in collection and recycled content rates, emphasising the need for continued efforts in improving sorting infrastructure and harmonised waste collection to achieve long-term self-sufficiency in recycling PET.
The collaborative endeavours of PET recycling participants have led to an improved recycling process and increased utilisation of rPET during 2022. Strategies such as Design for Recycle (DfR), Deposit-Return Systems (DRS), and the development of sorting technologies have contributed to the effectiveness of capturing PET packaging into the recycling stream.
"We are excited to present the State of Play 2024 study, a comprehensive analysis of the European PET market. Through collaboration with industry leaders and organisations, we have compiled valuable insights that shed light on the challenges and opportunities within the PET supply chain. This study underscores the importance of continued efforts in improving recycling infrastructure and fostering sustainability across the region," said Helen McGeough, Senior Analyst, Plastics Recycling at ICIS.
ICIS conducted the study in conjunction with partners, including Plastics Recyclers Europe, Natural Mineral Waters Europe, Petcore Europe, and UNESDA Soft Drinks Europe. The study uses the best available data sources, including ICIS PET production, consumption, and trade data, interviews across the European rPET supply chain, and the results of Plastics Recyclers Europe's Annual PET Recyclers survey.
For more information on the State of Play 2024 study and to access the full report, visit https://www.plasticsrecyclers.eu/wp-content/uploads/2024/03/PET-Market-in-Europe-State-of-Play_2022-data.pdf
About ICIS
ICIS - Independent Commodity Intelligence Services - helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world's valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £65bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £65bn | €75bn | $82bn.
About Plastics Recyclers Europe
Plastics Recyclers Europe (PRE) is an organization representing the voice of European plastics recyclers, facilitating the circularity of plastics and the transition towards the circular economy. For more information, visit www.plasticsrecyclers.eu.
Logo: https://mma.prnewswire.com/media/619935/4277787/ICIS_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/icis-launches-state-of-play-2024-study-providing-comprehensive-insights-into-the-pet-market-in-europe-302101057.html
