More manufacturers, retailers, and brands are embracing closed-loop recycling practices as concerns about climate change intensify. As the name suggests, closed-loop recycling sees the collection and recycling of post-consumer plastic waste and its repurposing for other products. However, such a process suggests the complete collaboration between consumers, retailers, and manufacturers, entailing a total transformation of the value chain.
At the World Economic Forum in Davos, Switzerland—where the 2020 theme was 'Stakeholders for a Cohesive and Sustainable World'—SABIC announced its intention for its TRUCIRCLE™ initiative. The solution "encompasses the company’s circular materials and technologies including certified circular polymers from the chemical recycling of mixed plastic waste; certified bio-based renewable polymers; new polycarbonate (PC) based on certified renewable feedstock; and mechanical recycled polymers."
SABIC is working globally to make a difference with its closed-loop recycling chain. While it is planning a semi-commercial facility in The Netherlands that can increase the production of pyrolysis oil, it is also assisting Saudi Arabia to fulfill the waste management objectives of its Saudi 2030 Vision.
Closed-Loop Recycling Practices
SABIC Announced TRUCIRCLE™Initiative Plans at an Annual Summit
Trend Themes
1. Closed-loop Recycling Practices - Opportunity for manufacturers, retailers, and brands to adopt closed-loop recycling practices to address climate change concerns and transform the value chain.
2. Chemical Recycling of Mixed Plastic Waste - Potential for disruptive innovation in the development of certified circular polymers through chemical recycling of mixed plastic waste.
3. Bio-based Renewable Polymers - Opportunity to explore the use of certified bio-based renewable polymers as an alternative to traditional plastic materials.
Industry Implications
1. Manufacturing - Manufacturers can leverage closed-loop recycling practices to enhance sustainability and reduce the environmental impact of their production processes.
2. Retail - Retailers can embrace closed-loop recycling to offer eco-friendly products and meet the growing demand for sustainable solutions from consumers.
3. Waste Management - Opportunity for waste management companies to collaborate with partners like SABIC and contribute to the circular economy by implementing closed-loop recycling practices.