London /PRNewswire/ - With demand currently outstripping supply, particularly for food grade packaging plastics, many FMCGs, manufacturers and converters are finding sourcing the feedstock they require to hit regulatory and sustainability goals challenging. Sourcing recycled resins in a growing, opaque, and increasingly competitive market has proven to be difficult across the packaging sector. Driven by regulation and consumer pressure, it remains one of the industry's most pressing challenges.
To assist the industry, ICIS has developed the Recycling Supply Tracker that allows companies looking to source recycled plastic to quickly gain a comprehensive view of the sector and identify new supplier relationships, as well as take a strategic view on existing and announced projects. The global database provides information on production capacities, output volumes, feedstock source and site status, and is designed to bring transparency and support the transition to a circular economy.
The Recycling Supply Tracker follows four grades of recycled plastic – high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), and polypropylene (PP) – in pellet, flake and regrind forms. The tracker has details on more than 1800 medium and large recycling facilities around the world.
The Recycling Supply Tracker has information on where the plants are located, what products they produce, and how much of those products they produce, as well how to contact them. Interactive filters allow the search to be narrowed by region, particular country, or a specific product. It also shows whether the plant is in operation, under construction, or announced. Further filters on specifics such as product colour and its feedstock source are also available, giving users the most comprehensive view of recycled plastics market.
"The tracker is designed to help companies source recycled resins globally, tackling one of the biggest challenges we know the industry is facing," Louise Boddy, Head of Strategy – Sustainability at ICIS said. "We bridge the gap between companies' sustainability targets and actually finding supplies of recycled plastic on the ground in markets that remain fragmented and unfamiliar to many. Our recycling analysts scour the world to find recycling plants that can support the circular economy and help those who want to increase their use of these environmentally friendly materials."
Even in Europe, where regulators are pushing the hardest for circularity of plastics, it is becoming clear that not enough recycled material is available to hit these targets. And many consumer brands have even more aggressive targets than the regulation. Seeing the extent and location of the world's recycling infrastructure with this tool enables regulators, investors and companies to see where the capacity is lacking and how fast it is being built. Having on the ground data is a crucial step to stimulating this sector and bringing more waste plastic back into the economy.
ICIS is a trusted source of global commodity intelligence for the energy, chemical and fertilizer industry. We are a division of RELX, a FTSE 15 company with a market cap of £35 billion and an employee base of over 30,000 experts across 40 countries.
At ICIS, we help businesses make strategic decisions, mitigate risk, improve productivity and capitalise on new opportunities. We make some of the world's most important markets more trusted and predictable by providing data services, thought leadership and decision tools. As a result of our unmatched global presence, we can deliver targeted connected intelligence to influence thousands of decisions across supply chains every single day. We shape the world by connecting markets to optimise the world's valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £35bn | €39.6bn | $48.1bn.