The European plastics recycling industry is closing production due to the current market developments caused by the COVID-19 pandemic, according to trade body, Plastics Recyclers Europe.
PRE explained that the major problems are the lack of the demand due to the closure of converting plants and the record low prices of virgin plastics as well as the decreased activity globally.
Ton Emans, PRE president commented: “If the situation is to persist and no actions are taken to remedy the sector, plastics recycling will cease to be profitable, hampering the attainment of the EU recycling targets and putting in jeopardy the transition towards circular plastics.
