No time to waste: What plastics recycling could offer

Plastics waste has become one of the biggest challenges for the chemical industry. Public concern, shifting consumer expectations and tightening regulations are forcing companies to move beyond the traditional “use once and discard” approach. Recycling is increasingly seen not only as an environmental necessity but as a critical part of long-term competitiveness.

At present only around 16 percent of plastics are collected for recycling, and just 12 percent are mechanically recycled into new products. The majority still ends up in landfills or incineration, representing a massive loss of material value and contributing to environmental harm. Closing this gap requires investment in better collection, sorting, and advanced recycling technologies.

The opportunity is also financial. McKinsey estimates that by 2030 the global profit pool from recycled plastics could be worth up to 55 billion US dollars annually. For chemical companies, scaling recycling solutions offers both a path to sustainability and a new engine for growth.