20 Jan 2022 --- Recycled plastic prices are skyrocketing worldwide as industries fight for control over the market to boost their environmental sustainability credentials. The packaging industry has been hard hit, with the cost of recycled PET (rPET) rising 103% in the past year, according to data group ICIS. Last week, the price of rPET overtook that of virgin plastic in Europe despite additional collection and processing costs as well as soaring fossil fuel prices, ICIS found. With the cost of post-consumer PET flakes now reaching €1,690 (US$1,916) per metric ton, PackagingInsights speaks to experts about the causes and potential impacts of this price hike for circular economy ambitions.
