Parts of Europe\u2019s plastic recyclers have informed the Bureau of International Recycling (BIR) that they are experiencing \u201csevere pressure\u201d as prices continue to decline due to weak demand, lower costs for virgin materials, and general economic unpredictability.<\/p>\n\n\n\n
Costs in the UK have been gradually dropping recently for various grades, although HDPE costs are still high. The continually high package recovery note (PRN) price, which has averaged around \u00a3300 in 2023, has also helped UK plastic recyclers.<\/p>\n\n\n\n
This morning (21st July), the BIR released a report that includes updates from China, Eastern Europe, the Netherlands, Spain, the Middle East, and the United States.<\/p>\n\n\n\n
PRESSURE!
\u201cThe European market for recycled plastic remains under severe pressure,\u201d said Henk Alssema of the Dutch business Vita Plastics. Prices have decreased further in recent months to levels not seen in a long time. Raw material demand is exceedingly low, resulting in large stockpiles. Despite the fact that we are not yet in a catastrophic recession, everyone is suffering.<\/p>\n\n\n\n
\u201cThe deteriorating market situation is primarily due to economic uncertainty.\u201d This has also resulted in a significant decrease in consumer purchasing power, causing their confidence to plummet to dangerously low levels.\u201d<\/p>\n\n\n\n
Henk Alssema went on to say that the market is \u201cunlikely to improve any time soon,\u201d and that despite the packaging industry\u2019s pledge to utilise recycled materials, \u201cit has still decided to limit its incorporation.\u201d<\/p>\n\n\n\n
According to Mr Alssema, this has caused some recyclers to reduce production, creating a \u201cworrying situation.\u201d<\/p>\n\n\n\n
\u201cOn the one hand, production capacity may disappear permanently as businesses cease operations; on the other hand, this will have a negative impact on the transition to a circular economy,\u201d he added.<\/p>","protected":false},"excerpt":{"rendered":"
Parts of Europe\u2019s plastic recyclers have informed the Bureau of International Recycling (BIR) that they are experiencing \u201csevere pressure\u201d as prices continue to decline due to weak demand, lower costs for virgin materials, and general economic unpredictability. Costs in the UK have been gradually dropping recently for various grades, although HDPE costs are still high. […]<\/p>\n","protected":false},"author":3,"featured_media":2898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"slim_seo":{"title":"European Plastic Recyclers report \u2018severe pressure\u2019 - Reef Recycling","description":"Parts of Europe\u2019s plastic recyclers have informed the Bureau of International Recycling (BIR) that they are experiencing \u201csevere pressure\u201d as prices continue to"},"_breakdance_hide_in_design_set":false,"_breakdance_tags":"","_slim_seo_primary_term_category":0,"_slim_seo_primary_term_post_tag":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised"],"_links":{"self":[{"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/posts\/2897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/comments?post=2897"}],"version-history":[{"count":1,"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/posts\/2897\/revisions"}],"predecessor-version":[{"id":2899,"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/posts\/2897\/revisions\/2899"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/media\/2898"}],"wp:attachment":[{"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/media?parent=2897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/categories?post=2897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.reefrecycling.com\/pt\/wp-json\/wp\/v2\/tags?post=2897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}