BOSTON, May 16, 2024
/PRNewswire/ -- The global plastics industry converged in
Orlando, Florida, in the first
week of May for NPE 2024, the first edition of the largest
plastics trade show in the Americas in six years. With over 50,000
attendees and 2,000 exhibitors, many sectors and types of companies
were represented, from plastic resin manufacturers to injection
molding equipment suppliers to plastics distributors and much more.
A clear theme at NPE 2024 was sustainability - not only applying
plastics to enable sustainable technologies like electric vehicles
but also emerging technologies to make plastics themselves more
sustainable. At NPE 2024, IDTechEx explored the landscape of
sustainable plastics, from advanced recycling to sustainable
packaging to bioplastics, to understand the latest trends and
updates driving this field.
Increasing recycled content in plastics, as opposed to
increasing plastics' biobased content or biodegradability
The emphasis on increasing recycling content in plastics,
particularly in packaging, was exemplified by the number of
recyclers, recycling equipment suppliers, and recycled resin
providers present at NPE. It is relatively unsurprising given the
various legislative initiatives passed worldwide that mandate
minimum recycled plastic content in packaging; recently, the
European Union passed the Packaging and Packaging Waste Regulation
(PPWR), which legislates that plastic packaging has a minimum
recycled plastic content of 10-35%, depending on the packaging
type. In the US, there has been buzz generated by New Jersey's Recycled Content Law, legislation
that aims to increase recycled content in plastic beverage
containers to 50% by 2044. Other states in the US that are passing
similar legislation include Washington and California.
That isn't to say that there are no legislative initiatives
supporting the increased usage of biobased and/or biodegradable
plastics. For example, California's SB 54 mandates that all plastic
packaging in the state be either recyclable or compostable.
Additionally, with the passage of the PPWR, the EU pledged to
consider mandates for biobased materials in packaging in three
years. However, these actions are less numerous than the number of
legislative actions and sustainability pledges from major plastic
users (i.e., fast-moving consumer goods companies) that involve
minimum recycled content targets. As such, many talks at NPE
centered on how to increase recycled plastic usage, particularly in
areas with more regulations, such as food-contact packaging
materials.
This section gives just a brief look into the complex emerging
patchwork of regulations that plastics users, particularly in
packaging, will need to comply with. With the growth of Extended
Producer Responsibility (EPR) laws in the US, as well as global
regulations like the United Nations Plastic Pollution Treaty under
development, the question of how to comply with so many different
regulations across territories will be a continued discussion in
the plastics industry.
Beyond packaging: Exploring additional applications for
sustainable plastics
At NPE 2024, bioplastics and advanced recycling companies
primarily showcased the application of their sustainable plastic in
a wide variety of packaging, from PLA-based coffee pods to
PHA-based flexible packaging to cutlery made with advanced recycled
plastic. The focus on applying sustainable plastics in packaging is
unsurprising, given that packaging accounts for about 1/3 of global
plastic production by application area and a disproportionate
amount of total plastic waste. Packaging is also the area with the
most regulations supporting the utilization of sustainable
plastics.
However, there were numerous companies at NPE 2024 discussing
and demonstrating the wider applicability of sustainable plastics
beyond food service and packaging. This includes biobased plastics
in footwear, the development of advanced recycling for healthcare
plastics, biobased plastics for non-woven textiles, and sustainable
plastics in automotive interiors. The development of new
applications for chemically recycled plastics and bioplastics
beyond packaging will be important in supporting the future growth
of these fields.
Outlook: A complex landscape developing for sustainable
plastics
NPE 2024 demonstrated that sustainability is no doubt high on
the agenda for companies across the plastics supply chain, from
resin manufacturers to end-users. However, the event also
highlighted the complexity of the market trends impacting different
categories of sustainable plastics and the challenges in navigating
those trends. The different types of sustainable plastics showcased
at NPE 2024, from PLA to PHA to starch-based plastics to advanced
recycled plastics, each have strengths that enable them to better
address certain challenges and applications. As such, the
sustainable plastics landscape will remain varied and fragmented;
market drivers like legislation continue to both encourage the
overall growth of sustainable plastics while also complicating
their adoption.
For more analysis and discussion on sustainable plastics, please
refer to IDTechEx's dedicated reports on chemical recycling and
dissolution of plastics, sustainable packaging market, and
bioplastics.
For the full portfolio of IDTechEx research on sustainability,
please visit www.IDTechEx.com/Research/Sustainability, and for the
portfolio of advanced materials research, please see
www.IDTechEx.com/Research/AM.
About IDTechEx:
IDTechEx provides trusted independent research on emerging
technologies and their markets. Since 1999, we have been
helping our clients to understand new technologies, their supply
chains, market requirements, opportunities and forecasts. For more
information, contact research@IDTechEx.com or
visit www.IDTechEx.com.
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SOURCE IDTechEx