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European plastics industry to invest €7.2 billion in chemical recycling

The European plastics industry plans to increase its investment in chemical recycling to a total of 7.2 billion euros by 2030, the industry association PlasticsEurope has announced.

The association’s member companies plan to produce 1.2 megatons of recycled plastic in 2025, rising to 3.4 megatons per year by 2030.

Chemical recycling is a key technology for the circular economy as it allows plastic waste that is currently incinerated or landfilled to be recycled. The recycled materials have the same properties as virgin plastics.

This provides a crucial advantage over conventional recycling methods, especially for sensitive materials such as food packaging.

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