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News
Industry trend: Developing greener and more sustainable plastic productivity
2024-12-10
On November 4-5, 2024,The 19th China Plastics Industry Development International Forum and China Plastics Trade Conference held in Yuyao shed light on the current state of the industry. Since the launch of China Plastic Industry Development International Forum in 2005, it has successfully been staged 18 consecutive sessions, beautifully sculpting a vibrant platform for industry discussion and engagement. This year's conference, themed "Fostering New Quality Productivity, Empowering High-Quality Development," brought together experts and top executives from the plastics industry to discuss topics such as macroeconomic trends, policies, market dynamics, and the future of the plastics industry.
The plastics market has seen a narrow price volatility this week, with the PE and PP markets experiencing a modest uptick, supported by a strengthening cost base and positive macroeconomic news. The PVC market, on the other hand, is experiencing a stronger adjustment, but there is limited seller activity and weak downstream demand.
The PS and ABS markets have seen a dip in seller confidence, leading to price fluctuations that have created uncertainty in the market. The PET and other waste and recycled plastics markets are also experiencing a turbulent time, with the PET bottle market remaining in a state of flux, and the market as a whole trading poorly.
The global plastics production exceeds 400 million tons annually, with about two-thirds being single-use plastics. This results in over 200 million tons of plastic waste annually. The carbon footprint of plastics production is over 124.8 billion tons annually, and the carbon footprint of the entire life cycle of plastics is even higher.
China generates over 60 million tons of plastic waste annually, with about 30% of it being recycled. The plastics industry needs to transition towards a greener, low-carbon, and circular model to achieve sustainable development.