Summary
The plastic recycling industry is experiencing extensive closures of plants in Europe and the U.S. due to factors like high costs and cheaper plastic alternatives from Asia. Many companies have halted plans to build new recycling plants, contributing to a loss in recycling capacity. Industry leaders warn that without political support, the industry could further decline.
Key Facts
- Biffa closed its Sunderland recycling plant in 2023 due to challenges in the industry.
- Several large recycling companies like Viridor and Veolia have shut down multiple plants across Europe.
- More than one million tonnes of plastic recycling capacity in Europe has been lost since 2023.
- High energy and labor costs are making it hard for European plants to compete with Asian plastic suppliers.
- The U.S. is also facing similar issues, struggling to meet recycling targets due to low virgin plastic prices.
- The UK exported 600,000 tonnes of plastic waste last year, partly due to regulatory loopholes.
- Industry leaders are calling for political action to prevent the industry's decline.
- RECOUP, a UK authority, warns that without interventions, the industry may not survive.
