ICIS, a provider of commodity intelligence for the energy, chemical and fertilizer industry, announced today that it has launched the Recycling Supply Tracker - Chemical to provide FMCGs, chemical producers, large converters and retailers with the most comprehensive view of the emerging chemical recycling market.
The company says that targets set by brand-owners and regulators have been contributing to a growing demand for recycled plastics globally, particularly for use in food and beverage packaging. However, supply of high-quality food grade recycled polymer material remains limited. The company launched the Recycling Supply Tracker – Chemical to assist the industry in effectively securing supply of recycled resins suitable for these applications.
According to the company, many industry players have public sustainability targets and need to understand the capacities in the market to ensure they can source the necessary materials to meet these. As of 2021, the global installed capacity for chemical recycling is under 2.5 million tonnes, including both commercial and pre-commercial facilities with Asia Pacific and North America as the leading regions. The ICIS Recycling Supply Tracker - Chemical will reportedly provide up-to-date data including installed capacity, output volume, process and feedstock, as well as details about the licensor and investors.
Additionally, the ICIS Recycling Supply Tracker - Chemical has identified that, in terms of capacity, only around 20% of the global recyclers currently produce polymers as an output of their chemical recycling facilities.
The ICIS Recycling Supply Tracker - Chemical is updated with new projects and project developments as they happen, with the intent of helping the industry understand the pace of growth in this sector. Less than 30% of projects are currently operating at commercial scale, but over half of the plants identified are expected to startup in the next three years, according to the company
Louise Boddy, Head of Commercial Strategy, Sustainability at ICIS, says, “Plastic waste is one of the biggest issues facing society and the investment now going into the development of new technologies to deal with plastic waste could be a game changer in the prevention of environmental leakage of used plastic.”
Boddy continues, “Efforts to bring more complex technology and greater scale to this industry are accelerating fast and ICIS is detailing these developments with its new supply tracker, helping to foster partnerships and investments that improve circularity and prevent waste.”
Available through ICIS Digital, the tracker is reportedly the world’s only interactive database on global chemical recycling projects. The company adds that it offers the ability to filter, download and connect with suppliers based on 18 years of recycled market expertise, with data sourced and maintained by a team of analysts with market knowledge and daily interactions with the marketplace.
Visit https://www.icis.com/explore/services/recycling-supply-tracker-chemical/ for more information.