Plastics recycling technologies compete in circular economy
A backlash against single-use plastics is encouraging recycling into intermediate products and fuels, complicating world oil demand forecasts
The factors feeding into world oil demand forecasts in recent years have been complicated by the rise of electric vehicles and ride-sharing, a change in world crude quality brought on by the US shale revolution and the challenge of new fuel blends for shipping arising from the International Maritime Organisation's 2020 sulphur restrictions. Now, plastics recycling is likely to further reduce demand expectations as technologies compete to establish themselves as the most efficient recyclers. Initiatives from international bodies such as the UN and World Bank, and China's decision last year to ban the import of foreign waste, including many plastics, have helped focus attention on the need to
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