IHS Markit has announced stringent new plastics recycling targets announced by the potential impact on the plastics market will drive much of the discussion during the IHS Markit Briefing at K.
The event will be hosted by global business information provider IHS Markit.
According to a recent IHS Markit report on sustainability: Plastics Sustainability - A Sea Change: Plastics Pathway to Sustainability, global plastics demand will grow from nearly 185 million metric tons (MMT) in 2017 to more than 300 MMT by 2030.
The report suggests this is a result of growing demand from rapidly expanding middle-class populations in China, India and elsewhere.
However, IHS Markit says, rapidly expanding plastics bans in Europe and elsewhere, particularly for SUPs, pose a significant threat to future demand for plastics producers. The potential exists to cut plastics demand growth in half by the 2030 to 2035 timeframe,.
“As announcements of additional polyolefins capacity and images of plastic pollution share the headlines globally, the need for a differentiated and sustainable plastics industry is emerging,” said Nick Vafiadis, vice president of plastics at IHS Markit.
“The transition from a linear economy to a circular economy represents a shift to ensure industry sustainability and value creation. During the IHS Markit Briefing at K-Fair, we will explore the market implications and offer forecasts for the various plastics segments.”