PLASTIC REGULATORY MARKET ANALYSIS

Market News

Global Plastic Regulatory Market- Recent Developments

New product launches

• Bans on Single-Use Plastics: Several countries and regions have implemented or announced plans to ban or restrict certain single-use plastic products. For example, the European Union implemented a ban on single-use plastics like plastic cutlery, straws, and plates in July 2021. Similar bans have been introduced or proposed in other countries, including Canada, India, and various states in the U.S. These regulatory actions drive the development and adoption of alternative materials and packaging solutions.
• Plastic Packaging Innovations: Companies are introducing innovative plastic packaging solutions to address environmental concerns. This includes the development of biodegradable or compostable packaging materials, as well as the use of recycled plastics in packaging. Some companies are also exploring alternative materials such as plant-based plastics or paper-based packaging to reduce the environmental impact of plastic packaging.
• Extended Producer Responsibility (EPR) Programs: Many regions have implemented or expanded Extended Producer Responsibility (EPR) programs for plastic waste management. These programs shift the responsibility of managing plastic waste to the producers and require them to take responsibility for the entire life cycle of their products, including collection, recycling, and proper disposal. Companies are launching new initiatives and partnerships to comply with EPR requirements and improve their plastic waste management practices. 

Acquisition and partnerships

• Chemical Companies and Plastic Recycling: Many chemical companies have been acquiring or partnering with plastic recycling companies to expand their presence in the plastic recycling market. These partnerships aim to develop advanced recycling technologies and processes to convert plastic waste into new plastic materials or other valuable products. For example, BASF SE, a chemical company, acquired the ChemCycling, a recycling company, in 2020 to strengthen its chemical recycling capabilities.
• Collaboration between Governments and Industry: Governments and industry players are increasingly collaborating to address plastic waste management challenges and implement effective regulations. These collaborations involve public-private partnerships, where government agencies work closely with industry stakeholders to develop and implement plastic waste reduction strategies. For instance, the Ellen MacArthur Foundation's New Plastics Economy Global Commitment brings together governments, businesses, and NGOs to work towards a circular economy for plastics.
• Partnerships for Sustainable Packaging Solutions: Companies from different sectors, such as packaging manufacturers, consumer goods companies, and retailers, are forming partnerships to develop sustainable packaging solutions. These collaborations aim to reduce plastic packaging waste, increase the use of recyclable materials, and improve packaging design for better recyclability. An example is the partnership between Nestlé, PepsiCo, and Danone to launch the NaturALL Bottle Alliance, which focuses on developing bio-based bottles made from sustainable feedstocks.