Fast facts: Tracking circular footprint of European plastics industry

Plastics Europe presented its new “Plastics – the fast Facts 2023”. The fast facts reveal global and European plastics production, trade partners and other key data.

The following are the four key takeaways from Plastics Europe’s report.

• Continuous growth in recycled plastics: The world’s recycled plastics production continues to increase in 2022, with an 8.9% share of overall global plastics production, while Europe accounts for 21% of global recycled plastics production.

Global plastics production by polymer. (Source: Plastics Europe)

• Faster growth in circular plastics: Proportionally, circular plastics production grew 16 times more than fossil-based plastics and reached a 19.7% share of overall European plastics production in 2022. For the global production, it has now reached a proportion of nearly 10%.

European plastics production by polymer. (Source: Plastics Europe)

• Greater potential of chemical recycling: Europe produced more than 50% of the chemically recycled plastics globally in 2022.

  
  

  With over EUR 8 billion of investment already announced and the legislative acceptance of the technology, the volume of chemical recycling plastics should increase significantly over the coming years.

• Growing competitiveness pressures between Europe and the rest of the world: Europe’s share of global plastics production has fallen from 28% in 2002 to 14% in 2022. Reasons for European producers’ competitiveness pressures include high energy prices, a more stringent regulatory framework and access to raw materials.

  
  

  It is also noted that China, followed by Europe, is the global leader in bio-based plastics production and recycling.

Click here to access the report infographics.

Read more: Meeting 65% demand of circular plastics would cost additional EUR 235 billion, projects Plastics Europe