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McKinsey Encourages Chemical Industry To Cut Plastics Pollution Via New Recycling Business

September 1, 2018: 12:00 AM EST
McKinsey believes the chemical industry has a key role to play in addressing plastics pollution and that in doing so it has the opportunity to create a new recycled plastics business with a profit poll of $55 billion by 2030. Effectively tackling this issue will require a shift from the ‘one and done’ principle that has underpinned plastic production. McKinsey estimates that just 16 percent of plastics waste is currently reprocessed to make new plastics and that the volume of plastics going to recycling could increase fivefold by 2030. Effective recycling could capture a valuable resource as well as avoid large disposal costs. The three major approaches to plastics recycling include mechanical, chemical, and processing the plastics waste back to basic feedstock through catalytic or thermal processing.[Image Credit: © Monica Volpin @ Pixabay.com]
Thomas Hundertmark, Chris McNally, Theo Jan Simons, and Helga Vanthournout, "No time to waste: What plastics recycling could offer", McKinsey & Company, September 01, 2018, © McKinsey & Company
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