Slump deepens in European plastics recycling industry

According to a press release published on Plastics Recyclers Europe’ s website, the European plastics recycling market is facing a significant downward trend, with a decrease in demand for recycled materials produced in Europe, reduced investments in domestic recycling and an increase in imports of recycled products from overseas markets.

This exacerbated the recession in the market, resulting in many recycling companies shutting their business in 2023 while more closures are expected in 2024 unless urgent action is taken.

The main challenge faced by the industry is the surge in polymer imports coming from outside the EU, which often lack proper verification of recycled content and traceability.

Ton Emans, Plastics Recyclers Europe’s President, said, “This situation undermines the progress and investments made to improve recycling processes. Many recyclers are struggling to survive in a market flooded with uncontrolled imports that fall short of EU requirements.”

To fight the current crisis, Plastics Recyclers Europe pointed to the importance of limiting the access to imports that do not meet the EU’s environmental standards. Plastics Recyclers Europe calls on European institutions to act urgently to create a circular single market for plastics recycling, a crucial step to ensure the EU’s competitiveness and a sustainable future for the continent.