2022 GIE Media, Inc. All Rights Reserved. Our analysis indicates that the situation is likely to become urgent, says Anthony Palmer, vice president, IHS Markit. Steel producer acquires Detroit-based Ferrous Processing & Trading scrap firm. IHS, which provides information, analysis and services to industries and markets, has a new Circular Plastics Service to help transition from a linear to a circular economy. The Harsco Environmentaldivision of Harsco Corp., Camp Hill, Pennsylvania, says it has entered into an exclusive strategic relationship withMagsort Ltd., headquartered in Helsinki, that will allow it to bring Magsorts metal recovery technology to the steel industry. IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. What do you expect to be the main driver for plastics circularity? Unlike mechanical recycling, which does not involve physical change to molecule structures, chemical recycling breaks down plastics waste via chemical and heat processes to result in a liquid or gas raw materials for use either as energy, or raw material for future polymer manufacturing.
Traditional mechanical recycling is expected to skyrocket between now and 2050, but that technology will still not be enough to meet expected demand for recycled plastic. Under current market trends, progress towards a circular economy for plastics would be modest, relying primarily on mechanical recycling.
Redirecting classical investments into new recycling efforts will be a critical part of this effort. Harsco says it plans to work with Magsort to develop an optimized, efficient and cost-effective solution for customers. IHS estimates chemical recycling, where plastics are broken down to the molecular level, has about 1.2 million tonnes of capacity currently. The findings are part of the new IHS Markit Circular Plastics Service, which provides a comprehensive, scenario-based road map for how the plastics value chain could transition from a linear to a circular economy model. HOUSTON--(BUSINESS WIRE)--Ambitious goals for attaining a circular plastics economy could be achieved by shifting a portion of the future investment required to meet the growing demand for plastics towards advanced recycling methods, according to a new analysis by IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions. News Media:
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Chemical recycling will be needed to close the gap.
Pyrolysis technologythat is high temperature processeswill be able to operate with improved economics and development and will demonstrate reductions in unit fixed costs by as much as 50-65 percent, he continues. Circular Plastics Service findings show multibillion-dollar investments needed in mechanical and chemical recycling to enable circular plastics economy by 2050.
With plastics representing approximately 12% of this waste stream, this means global waste plastics will rise to over 425 million metric tons (MMT) in 2050, an increase of 170 to 190 million metric tons.
A large quantity of plastic is used in single-use packaging (SUP) applications, and much of this plastic ultimately will turn up in the municipal solid waste (MSW) stream. In the trailing 12 months ended Aug. 31, 2021, FPT generated EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately $100 million, the Cleveland-based steel producer and iron ore mining firm says. While in 2041 NEVs make up 29 percent of the U.S. fleet, in Europe that figure could be 44 percent and in the U.K. 57 percent. Shredded plastics on display at Fakuma 2021. Mechanical recycling is expected to grow from today's 20 million metric tons per year to 112 million to 200 million tonnes by 2050, depending on different potential scenarios IHS Markit sees. "This presents formidable logistics issues that will challenge overall efforts to recover and recycle plastics, since these regions are quite distant from the manufacturing centers of plastics production associated with the current produce and export model," IHS said. India-based information services firm will offer look at market in Indian subcontinent and other parts of Asia. Under mechanical recycling, plastic recovered from post-consumer waste is separated via mechanical processes into a homogeneous plastic stream, cleaned and ground for re-use in new plastic articles. What's not been proven is the widespread commercial profitability of that approach. Plastics News would love to hear from you. Iran Is Trying to Play the Saudis Against the US. The findings are part of the new IHS MarkitCircular Plastics Service, which provides a comprehensive, scenario-based road map for how the plastics value chain could transition from a linear to a circular economy model.
But there's sometimes a difference between ambition and reality.
Global demand for plastics only will continue to grow as emerging economies evolve and global living standards improve. Click Here for more product information about the Circular Plastics Service contact Anthony Palmer at Anthony.palmer@ihsmarkit.com. furthers commitment to environmentally friendly, low-carbon intensity steelmaking with cleaner materials mix. More ambitious goals, targeted at reducing the practices of landfill, incineration and energy recovery as end-of-life solutions for postuse plastics might be achievable by redirecting a portion of new manufacturing investment toward a wider range of plastic recycling facilities, including mechanical and chemical recycling, especially as the latter becomes more economically feasible, IHS Markit says. Findings by new Circular Plastics Service suggest that a pathway to meeting ambitious societal goals exists by rebalancing investment away from new manufacturing capacity and towards both mechanical and chemical recycling facilities.
At the current pace of progress, plastics recycling via mechanical processes could plateau at just 14 percent of plastics demand by 2050, according to the IHS Markit analysis, or perhaps 22 percent under the more ambitious collection and recycling scenario identified by the company. Consumers and alliances need to continue to support the move toward circular-packaging solutions and provide greater transparency while recognizing the many pressures companies face. This presents formidable logistics issues that will challenge overall efforts to recover and recycle plastics, since these regions are quite distant from the manufacturing centers of plastics production associated with the current produce and export model. Therefore, although mechanical recycling is expected to increase significantly from some 20 MMT today to 112-200 MMT in 2050, for the base and aggressive scenarios, this process alone will not be sufficient to achieve ambitious circularity goals. Jeff Marn +1 303 858 6417
Currently, this approach is the most advantageous from an economic, energy and carbon impact perspective. Consumers and alliances need to continue to support the move toward circular-packaging solutions and provide greater transparency, while recognizing the many pressures companies face. According to the IHS Markit analysis, more than $300 billion of the total capital spending earmarked for new plastics production capacity can be redirected to mechanical and chemical recycling processing capacity thereby meeting the goals of an aggressive circular economy case. Driven by regulation, legislation and rising public concerns, progress toward a fully circular economy for plastics by 2050 is increasingly being sought. Industry needs to develop required technologies, build assets and manage costs to transition to a new circular model for plastics. Under current market trends, progress toward a circular economy would be modest, relying primarily on mechanical recycling. The latter depends on significant advances in sorting, simplification of product design with end-of-life recycling in mind and development of selective solvent dissolution-precipitation technology to advance cleanup, the company adds.
That's an increase of 170 million to 190 million tonnes in 30 years. Globuc releases an overview of the biggest downstream projects in Central Asia and Caspian, Implementing projects in Central Asia: challenges and specifics, TRANSITIONING THE CHEMICAL INDUSTRY TOWARD A CIRCULAR FUTURE. Most of this increase will occur in regions outside of North America, Western Europe and Chinaareas like Southeast Asia, India and Africaowing to higher growth in population and standard of living. Consumers and alliances need to continue to support the move toward circular-packaging solutions and provide greater transparency while recognizing the many pressures companies face. Presenters Zain Nathani of the Mumbai-based Nathani Group of Companies and Abhijeet Mahanta of United Kingdom-based EMR Ltd. will offer an overview of the current global supply and demand situation and consider how those factors may influence pricing.
In this new case, we keep resources in use as long as possible, extract the maximum value while in use and then recover and regenerate valuable products and materials at the end of life.. Therefore, although IHS Markit says it expects mechanical recycling to increase significantly from some 20 million metric tons today to 112 million to 200 million metric tons in 2050, for the base and aggressive scenarios, this process alone will not be sufficient to achieve ambitious circularity goals. More than $300 billion of the total capital spending earmarked for new plastics production capacity could be redirected to mechanical and chemical recycling processing capacity, thereby meeting the goals of an aggressive circular economy case, the analysis states. Consumers are saying they want to see more recycled plastics being used. Approximately $1.5 trillion in investment by the global plastics industry would be required to meet growing demand for consumer plastics to 2050.
While developed economies search for answers to handle single-use plastics beyond disposal, expanding economies will seek to use more and more of that material. IHS Markit says it believes that advances along the technology experience curve will enable total chemical recycling capacity to increase from just 1.2 million metric tons today to 44 million to 190 million metric tons in 2050 for different scenarios the company has modeled. But IHS believes more than $300 billion of that total $1.5 trillion can be redirected to recycling both mechanical and chemical over the next three decades to help "the goals of an aggressive circular economy case.". Recycle targets for the 2025 and 2030 timeframessuch as the EU Packaging Directive and the growing network of Plastic Pactsindicate that society is tracking towards the more aggressive IHS Markit scenario, and industry will need to adapt its investments accordingly, Palmer says. Plastics News covers the business of the global plastics industry. Barnes Group announced that it has become a Member of the Ellen MacArthur Foundations Network. All other company and product names may be trademarks of their respective owners 2020 IHS Markit Ltd. All rights reserved. "Chemical recycling," data and services firm IHS Market said, "will be needed to close the gap.". This presents formidable logistics issues that will challenge overall efforts to recover and recycle plastics because these regions are distant from the manufacturing centers of plastics production associated with the current produce and export model. IHS Markit FPT has auto shredding locationsin Florida, Michigan, Ohio and Ontario. Today, the plastics ecosystem has firmly committed to a transition in which the incumbent linear make, use and dispose model for plastics is moving towards a more advanced state. The Cleveland-Cliffs list of transaction rationale aspects also includes that it: The acquisition has been approved by the Cleveland-Cliffsboard of directors and is expected to close in the fourth quarter of 2021, subject to regulatory approval and closing conditions. FPT already enjoys an outsized position in automotive and industrial scrap, which is expected to grow as part of Cleveland-Cliffs, the company adds. Braskem plans to expand its offering of certified circular polypropylene by utilizing Nexus Circular's proven. However, limitations to mechanically recycled plastics use arise in light of some degradation that occurs during each reuse cycle, contamination by additives and other factors, IHS Markit says. Staying current is easy with Plastics News delivered straight to your inbox, free of charge. But technology improvements could increase that number to 44 million to 190 million tonnes by 2050, according to different models studied by the firm. In this new case, we keep resources in use as long as possible, extract the maximum value while in use, and then recover and regenerate valuable products and materials at the end of life..
Will Restaurant Week Be the Ticket? With plastics representing approximately 12 percent of MWS, this means global end-of-life plastics will rise to more than 425 million metric tons in 2050, an increase of 170 million to 190 million metric tons. FPT currently processes approximately 3 million tons of scrap per year, approximately half of which is prime grade ferrous scrap, according to Cleveland-Cliffs.
IHS Markit believes that such advances along the so-called technology experience curve will enable total chemical recycling capacity to increase from just 1.2 MMT today to 44-190 MMT in 2050, for different scenarios modelled. Customers will see the difference our technology can make in helping them pursue their sustainability goals. Most importantly, industry will need to develop required technologies, build assets and manage costs in order to transition to a new circular model for plastics. These improvements could mean that chemical recycling plants could expand significantly in capacity compared with current designs. Closing the circularity gap will require an unprecedented global alignment and adoption of actionable strategies including new business models, new alliances and logistics capabilities. For media inquiries contact Jeff Marn at jeff.marn@ihsmarkit.com or press@ihsmarkit.com. IHS Markit says it believes that advances along the technology experience curve will enable total chemical recycling capacity to increase from just 1.2 million metric tons today to 44 million to 190 million metric tons in 2050 for different scenarios the company has modeled. A new telescope in Chile may be powerful enough to finally find it.
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IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the worlds leading financial institutions. IHS Markit says it expects step-change improvements in reactor design, catalysis and product processing with chemical recycling technologies to enable large-scale implementation of chemical recycling, enabling the aggressive case scenario. Stifel characterizes the EV repair parts market, whether aftermarket or OEM, as in its infancy. Regarding LKQ in the near and medium term and the impact of the ICE-to-EV conversion, The inventory transition would be so gradual there is minimal risk of a devaluation of parts inventory.. Closing the circularity gap will require an unprecedented global alignment and adoption of actionable strategies including new business models, new alliances and logistics capabilities. UKs Gazprom Energy Rebrands After German Bailout Steadies Group, A Swelling Mountain of Bills Plagues Indias Power Industry, Alibaba Added to SEC List of Chinese Firms Facing Delisting, T-Mobile Gets Chance to Mend Airwaves Patchwork in New Auction, Permira Is in Lead to Buy Reorg Research From Warburg Pincus, Levi Strauss Heir Would Join Congresss Richest With NYC Win, Braverman Tells Lawyers to Give SolutionsWhen Assessing Legal Risk of Policy, Asia Has New Richest Woman as Property Crisis Reshapes Fortunes, Calstrs Posts 1.3% Loss for Latest Fiscal Year After Market Rout, Neighbours Finale Episode Draws in Audience of 2.5 Million, Review: Beyonc Escapes to Dance World in 'Renaissance', Trump and His Allies Are In Control of the GOP. Most of this increase will occur in regions outside of North America, Western Europe and Chinaareas like Southeast Asia, India and Africaowing to higher growth in population and standard of living, Palmer says.
allows Cliffs to optimize productivity at its existing EAFs and BOFs as the company has no current plans to add additional steelmaking capacity; expands portfolio of high-quality ferrous raw materials to include iron ore pellets, direct-reduced iron, and now prime scrap; immediately secures substantial access to prime scrap, where demand is expected to grow dramatically with limited to no growth in corresponding supply; creates a platform for Cliffs to leverage long-standing flat-rolled automotive and other customer relationships into recycling partnerships to grow prime scrap presence; and. The research examines two scenarios: Progress toward achieving plastics circularity at an incremental, measured pace; and a more aggressive scenario in which progress is accelerated by ambitious goals and policies set by governments and society. Next Big Risk asks three titans of the financial industry what they see coming in the next 5 to 10 years. Governments and regulatory bodies need to coalesce and support the development of standardized goals and regulatory actions that provide clarity and promote a circular model for plastics. Pyrolysis technologythat is high-temperature processeswill be able to operate with improved economics and development and will demonstrate reductions in unit fixed costs by as much as 50 to 65 percent, he continues.
The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. However, LKQ is already investing and researching how to be part of the ELV sector in the EV era, and in Europe LKQ already supports parts distribution for some EVs, writes Stifel. attaining a circular economy for plastics could be achieved by transitioning a portion of the future investment required to meet the growing demand for plastics toward advanced recycling and mechanical recycling methods. 
At the heart of the matter is that the widespread benefits associated with the use of plastics contrast sharply with the way the world manages its end-of-life disposalthe so-called plastics dilemma.. 
Interview with Sarmenio Saliba, Sustainability Business Leader, Trinseo at the 3rd Go Circular Business Summit in Antwerp. 
More ambitious goals, targeted at reducing the practices of landfill, incineration and energy recovery as end-of-life solutions for waste plastics may be achievable by redirecting a portion of new manufacturing investment towards a wider range of plastic recycling facilities, including both mechanical and chemical recycling, especially as the latter become more economically feasible. Raipur, India-based SteelMint is preparing a series of webinars on the Asian steel industry and sectors tied to it, including ferrous scrap and iron-based metallics. The end-of-life vehicle (ELV) percentage of EVs will lag that by another 10 or more years.
Ohio-based integrated steelmaker Cleveland-Cliffs Inc. says it has entered into a definitive agreement to acquire Detroit-based Ferrous Processing and Trading Co. (FPT) for approximately $775 million. 1155 Gratiot Avenue We report news, gather data and deliver timely information that provides our readers with a competitive advantage. Neste to receive EU funding for chemical recycling project. "Ambitious goals for attaining a circular plastics economy could be achieved by shifting a portion of the future investment required to meet the growing demand for plastics towards advanced recycling methods," IHS reports. Advancing Shell's commitment to the plastic circular economy and chemical recycling technology. The global volume of municipal solid waste will increase from a level of 2.1 billion metric tons in 2020 to 3.5-3.7 billion metric tons in 2050. Email your letter to Editor at [emailprotected]. It addresses implications of carbon intensity and the impact on future capital investments within the context of energy transition and carbon valuation, amid changing policy and regulations. Magsorts ultrahigh-energy crusher for processing steelmaking slags enables the recovery of higher value metallics, Harsco says, adding that the technology also can salvage larger volumes of metal from slag at a higher quality than traditional solutions. The global volume of MSW will increase from 2.1 billion metric tons in 2020 to 3.5 billion to 3.7 billion metric tons in 2050, IHS Markit says.
Driven by regulation, legislation and rising public concerns, progress toward a fully circular economy for plastics by 2050 is increasingly being sought. With that waste stream expected to increase from 2.1 billion tonnes in 2020 to 3.5 billion to 3.7 billion tonnes in 2050, IHS said global plastic waste will increase to more than 425 million tonnes by then.
Technology advances would allow significant plant capacity scale-up, for example, from 500-3,000 metric tons per day, versus the 50-300 metric tons per day that are common today and where pyrolysis technology is cost-prohibitive, says Jonny Goyal, associate director, technology and infrastructure, IHS Markit.
Braskem extends relationship with Nexus Circular. The acquisition will support Petainers manufacturing of sustainable packaging.
The program initially will focus on bringing the technology to carbon steel makers, with a second phase focusing on developing the solution for stainless steelmakers, Harsco says in a news release about the partnership. Bedi will provide an update on Indias vehicle scrappage policy and on how increased ELV recyclingmay impact levels of imported ferrous scrap. Most of this increase will occur in regions outside of North America, Western Europe and Chinaareas like Southeast Asia, India and Africaowing to higher growth in population and standard of living, says Palmer. Redirecting classical investments into new recycling efforts will be a critical part of this effort.". At the heart of the matter is that the widespread benefits associated with the use of plastics contrast sharply with the way the world manages its end-of-life disposalthe so-called Plastics Dilemma..
Our analysis indicates that the situation is likely to become urgent, says Anthony Palmer, vice president, IHS Markit. The global volume of MSW will increase from 2.1 billion metric tons in 2020 to 3.5 billion to 3.7 billion metric tons in 2050, IHS Markit says. We are looking forward to what Harsco and Magsort will achieve together.. This service quantifies the magnitude and timing of substantial market shifts, identifies key regulatory and societal risks and provides ongoing tracking of fast-moving developments.
We are pleased to be working with Harsco to bring our solution to the steel industry, says Niklas Tornkvist, CEO of Magsort. The research examines two scenarios: progress toward achieving plastics circularity at an incremental, measured pace, and a more aggressive scenario in which progress is accelerated by ambitious goals and policies set by governments and society. Furthermore, throughout our entire footprint, Cleveland-Cliffs also consumes a very significant amount of scrap in our EAFs and BOFs [basic oxygen furnaces]., Adds Goncalves of the strategic aspects of the purchase, The acquisition of FPT will enhance our ability to buy back prime scrap directly from our clients, cutting the middlemen and improving the margin contribution from scrap for both Cleveland-Cliffs and for the manufacturing and service center clients that will be able to sell scrap directly back to us.. Therefore, although IHS Markit says it expects mechanical recycling to increase significantly from some 20 million metric tons today to 112 million to 200 million metric tons in 2050, for the base and aggressive scenarios, this process alone will not be sufficient to achieve ambitious circularity goals.
The challenge in the conversion for LKQ is that about 18 percent of U.S. parts and services sales tie into recycled and remanufactured engines and transmissionscomponents not present in EVs.
The latter depends on significant advances in sorting, simplification of product design with end-of-life recycling in mind and development of selective solvent dissolution-precipitation technology to advance cleanup, the company adds.
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