Plastics News
Upcoming Industry Events:
Plastics Recycling Technology
September 13 – 15, 2022
Vienna, Austria
For More Information: https://www.ami-events.com/event/e4828ba5-51bf-4ac2-b22b-cee7857425fd/websitePage:a070c8b8-97cf-4801-a9e7-eef209386215?RefId=AMI%20website
K 2022
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Current Trending Topics in the News with Links to Articles:
- Governmental and Lobbying:
ACC: Import tariffs hurting chemical, plastic manufacturers
https://www.plasticsnews.com/news/import-tariffs-hurting-chemical-plastic-manufacturers
Tariffs on imports of intermediate chemicals are undermining the plastics industry’s ability to invest in innovative new products, Jason Bernstein, director of global affairs at the American Chemistry Council, said during testimony for the U.S. International Trade Commission’s investigation into the economic impact of section 232 and 301 tariffs.
In the July 21 testimony, Bernstein highlighted a key difference between the effects of tariffs on end-products and intermediate inputs.
- Features and News Articles:
Montachem honored for contributions to US exports (entire article below)
https://www.plasticsnews.com/one-good-resin/montachem-honored-contributions-us-exports
Resin distributor Montachem International has been recognized by the U.S. Commerce Department for its export work.
Fort Lauderdale, Fla.-based Montachem was one of 19 companies that recently received an E Award from the department. The awards are the highest recognition a U.S. entity can receive for making a significant contribution to the expansion of U.S. exports, officials said in a news release.
Of the 19 recipients, 14 are small- and medium-sized businesses and five are manufacturers. This year’s recipients come from 15 different states. The companies received their awards July 13 in Washington at an event hosted by U.S. Secretary of Commerce Gina Raimondo.
“U.S. exports are a crucial component of our global commercial engagement and example of our competitiveness in the global marketplace,” Raimondo said. “I’m thrilled to recognize the achievements of this year’s recipients for showcasing the innovation and dynamism that is characteristic of America’s private sector.”
Companies are nominated for the awards through the U.S. and Foreign Commercial Service office network. Record years of successive export growth and an applicant’s demonstration of an innovative international marketing plan that increased exports is a significant factor in selecting the winners.
In a LinkedIn post, Montachem CEO Jerry Murcia said that his firm “shares this special moment with our customers, suppliers and dedicated employees who made this achievement possible”
Montachem was founded in 1988 and now distributes resins and additives globally for 17 suppliers. The firm’s products include polyethylene, polypropylene and PVC.
Polystyrene, polypropylene and PET dominate resin news
https://www.plasticsnews.com/news/polystyrene-polypropylene-and-pet-dominate-resin-news
North American commodity resin markets were varied in June, with prices for two materials up, one down and two flat.
PET bottle resin continued its incredible pricing surge in 2022 by jumping 13 cents in June. Prices for the material were up 6 cents in May and now are up 48 cents so far in 2022.
Strong seasonal demand for bottled water and other beverages has played a role in the price surge, as well as a lack of new capacity and freight and logistics challenges. Higher gasoline demand also has lifted prices for paraxylene, a PET feedstock that is also used as a gas additive.
Plastics M&A off slightly from record highs, but valuation still strong (video)
https://www.plasticsnews.com/video/plastics-ma-slightly-record-highs-valuation-still-strong
Plastics merger and acquisition activity is down a bit in the first half of 2022, compared to record high levels of recent years.
But dealmaking is still brisk and company valuations remain high, Plastics News Senior Reporter Frank Esposito said in our PN Live on July 27.
- Recycling:
Michelin takes lead in European plastics chemical recycling initiative
A consortium of 18 European organizations, including Michelin Group, have launched a major initiative to process hard-to-recycle post-consumer waste, including composite industrial waste and multilayer clothes.
Coordinated by Michelin, the WhiteCycle project launched July 1 and aims to develop a circular economy to convert “complex waste containing textile made of plastic into products with high added value.”
By 2030, the 10 million euro project’s ambition is to develop capacity to recycle more than 2 million metric tons of PET, the third most widely used plastic in the world, Michelin said in a July 5 news release.
Report shows Canada’s starting point for 2025 sustainability goals
https://www.plasticsnews.com/news/report-shows-canadas-starting-point-2025-sustainability-goals
Plastics packaging in Canada currently contains 10 percent post-consumer content, by weight, while the industry’s goal is to reach 30 percent by 2025.
That was one of the findings in the Canada Plastics Pact’s 2020 Baseline Report, released July 7. The report outlines the plastics packaging landscape in 2020, the year prior to CPP’s launch, in order to measure progress toward its 2025 voluntary goals.
Polypropylene returning to ‘widely recycled’ list
https://www.plasticsnews.com/news/polypropylene-returning-widely-recycled-list
Polypropylene is once again being considered to be “widely recycled” by an on-package recycling information system that had previously downgraded the material.
How2Recycle, a Sustainable Packaging Coalition program that oversees a recycling identification system that is widely used on packaging, had downgraded PP to “check locally” in labeling for consumers in January 2020.
But the Polypropylene Recycling Coalition of The Recycling Partnership reported July 28 that efforts to increase accessibility to PP recycling have restored PP’s previous status.
PP is the third-most widely recycled plastic, behind PET and high-density polyethylene, but it is a distant third. Many in the recycling business see PP as the next frontier to recapture more used plastics to not only improve that material’s recycling rate but also plastic’s overall environmental reputation.
Plastics Recycling World Magazine
July/August Issue is not yet published.
Current Trending Topics:
Upcoming Events:
Plastics Recycling Technology
September 13 – 15, 2022
Austria Trend Hotel Savoyen
Vienna, Austria
Plastics Recycling World Expo
November 9 – 10, 2022
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