SunSirs: The Plastic Recycling Industry has Reached 100 billion RMB in China

https://www.chemnet.com   Jul 09,2024 SunSirs

According to data from the National Bureau of Statistics, in 2023, the plastic products industry in China completed a total output of 74.885 million tons, a year-on-year increase of 3.0%. Compared to the production of 80.04 million tons in 2021, this figure has decreased, but at the same time, the global share has reached 17.4%.

According to the Recycled Plastics Branch of the China Material Recycling Association, the amount of waste plastic recycled in China in 2023 was 19 million tons, an increase of 1 million tons compared to 2022 (18 million tons) and a year-on-year increase of 5.6%. The recycling value of waste plastics is 103 billion RMB, a decrease of 1.9% compared to 2022 (105 billion RMB). Among them, the recycling amount of waste PET (an engineering plastic) is 6.3 million tons, the recycling amount of waste PE (polyethylene) is 4 million tons, and the recycling amount of waste PP (polypropylene) is 3.9 million tons, accounting for 33%, 21%, and 21% respectively, making it the three varieties with the highest recycling amount among recycled waste plastics.

In 2023, the domestic production of recycled plastics was approximately 16 million tons, an increase of 500,000 tons or 3.2% compared to 15.5 million tons in 2022.

It is expected that the amount of waste plastic recycling in China will increase by 10.5% year-on-year to 21 million tons in 2024, and the value of waste plastic recycling is expected to reach 110 billion RMB.

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