Global plastic pollution control enters a new phase

Global use of plastics has been on a steady rise over the past 60 years, and plastic production has soared from 2 million tons in 1950 to 348 million tons in 2017, making it a $522.6 billion global industry, with capacity expected to double by 2040.

The production, use and improper disposal of plastics has a catastrophic impact on the triple planetary crisis of climate change, biodiversity and pollution. Since the outbreak of pneumonia caused by the new coronavirus, protective equipment (such as masks, protective clothing, etc.), the use of single-use plastic products, etc., has greatly increased the production of plastic waste.

With the global trend toward automated, green, and sustainable machinery manufacturing, replacing virgin materials with recycled materials is an inevitable trend and an important means for companies to achieve their low-carbon and ESG goals. Many brands in the industry have already announced targets for the percentage of recycled plastics to be used by 2025 as well as 2030, respectively. The potential demand for re-cattle food-grade and filament-grade premium recycled plastics remains very high.