Advanced recycling technologies and collaborative solutions for the transition to a circular economy in plastics
In this study, Frost & Sullivan identified eight distinct themes: reuse, mechanical recycling, cleaning and depolymerization, raw material recycling, upcycling, alternative raw materials, technology enabling and collaboration – to categorize different strategies that companies are implementing to create a circular economy to create for plastics.
More information about this analysis can be found at: http://frost.ly/5jf
“There is an urgent need for stakeholders along the value chain to make a concerted effort to ensure the co-development of circular material flow (grinding) between end industries,” said Gautam Rashingkar, chemistry, materials and nutrition research analyst for Frost & Sullivan. “The industry needs both advanced recycling technologies and advanced technology-based solutions that improve the sorting, traceability, accountability and transparency of the flow of materials along the value chain.”
Rashingkar added, “A rapid transition to a circular economy requires the development of a system made up of a series of interconnected loops, the convergence of technologies and continuous collaboration that will ensure the reduction, reuse, regeneration and recycling of plastics in successful development A well-integrated recycling economy for plastics depends to a large extent on the joint functioning of initiatives on the individual topics, which on the one hand creates sustainable economic and ecological value and an ecological balance by discharging waste from incinerators and landfills on the other. “
The circular economy offers lucrative growth prospects. Market participants should consider:
- A collaborative approach to sustainable product development: participants need to get involved in joint initiatives that focus on ecodesign and scaling, and strengthen recycling infrastructure to commercialize advanced recycling technologies.
- Strengthening the reverse logistics and recycling infrastructure: Stakeholders along the value chain must invest in the geographic collection of sorting, sorting and recycling infrastructure.
- Integrating mechanical and chemical recycling approaches: incumbent operators should consider establishing integrated facilities that will help reduce handling and logistics costs and improve the overall recycling rate.
- Design for Recyclability and Reuse: Stakeholders should ensure circularity by adopting an ecodesign approach that focuses on improving the durability, repairability and reusability of products. Increasing energy and resource efficiency; Reduce carbon dioxide emissions and the accumulation of plastic waste.
Convergence and collaboration to bring about circular economy in the plastics and composites industries is the latest addition to Frost & Sullivan’s chemical, materials and nutrition research and analysis provided by the Frost & Sullivan Leadership Council. It enables companies to identify a continuous flow of growth opportunities for success in an unpredictable future.
About Frost & Sullivan
Frost & Sullivan has been world-renowned for six decades for its role in helping investors, business leaders and governments manage economic change and in identifying disruptive technologies, megatrends, new business models and companies that lead to a continuous flow of growth opportunities to meet the future Driving Success. Contact us: start the discussion
Convergence and collaboration to usher in the circular economy in the plastics and composites industries
E: [email protected]
SOURCE Frost & Sullivan