According to an article in Waste & Recycling News, the Freedonia Group Inc., an international business research company, has released a new report which predicts demand increase for recycled plastics by 2020, an increase equivalent to a $162 billion market.
This increase in demand is expected to provide business incentives for increased recycling, while at the same time facilitating higher diversion rates.
The report indicated that, "demand for recycled plastic packaging will be fueled by greater processing volumes of recycled material and increased collection activity." Essentially, as greater quantities are recycled through state and national initiatives, demands for the material also increase, primarily in the areas of packaging.
Bottles account for the majority of recycled content plastic packaging because of well-developed infrastructures for PET and high density polyethylene. Currently in California, CAW is supporting two bills (AB 1149 and AB 341) which would increase the amount of recycled materials in the state, continue investment in California’s plastics recycling and manufacturing infrastructure, and provide incentives for creating green jobs.
CAW thanks you for your support to help California reach a 75% diversion rate by 2020.
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