NEW YORK, June 23, 2021 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, today launched six new daily price assessments for recycled plastics in the US, Europe and Southeast Asia spot physical markets.
Underpinned by a robust price assessment methodology, the new assessments of three recycled polymer types (R-HDPE, R-PP and R-LDPE) are the first-of-kind in their respective regions and will help market participants understand how recycled plastics are evolving into tradable commodities.
Ben Brooks, Head of Plastics Recycling Price Reporting, S&P Global Platts, said: "We are pleased to broaden our coverage of recycled plastics prices, offering market participants crucial new insight into spot market values across additional types of recycled polymers. Providing transparency to the key trading regions of these still-evolving markets is particularly important at a time when the supply of quality recycled plastics raw materials is presenting a key challenge and the nascent markets are increasingly in the consumer and legislative spotlights."
"Historically, the recycled polyethylene terephthalate (R-PET) market is the most advanced of the recycled markets and one which has been heavily targeted by legislation. But as the broader marketplace recognizes the ever-increasing need to incorporate more recycled content into everything from consumer packaging, to consumer durables and automotive parts, the need for transparent, robust data and insights will only grow," added Brooks.
Platts has launched three new daily assessments in bales and pellets for recycled high-density polyethylene (R-HDPE), typically used in the manufacturing of shampoo and detergent bottles. These complement Platts' existing recycled HDPE assessments in Europe and Asia and present a truly global view of these markets for the first time. Furthermore, in combination with Platts' existing Virgin plastic assessments, the new assessments extend transparency across the R-HDPE value chain -- from Virgin polymer feedstocks through post-consumer HDPE waste and recycled HDPE pellets.
Platts has launched two daily spot assessments in Northwest Europe of recycled polypropylene (R-PP) pellets, used in the manufacturing of rigid consumer packaging such as flowerpots and car bumpers. These are Platts' first recycled PP assessments globally, and with this offering, Platts now offers insight across the three main recycled polymer types (R-PET, R-PP and recycled polyethylene R-PE).
Platts has introduced its first daily Asia assessment for recycled low-density polyethylene (R-LDPE), used in consumer packing such as grocery bags and bin liners. The new assessment reflects recycled LDPE film pellet free on board (FOB) Southeast Asia and comes at a time of increasing demand.
According to S&P Global Platts Analytics, newly announced capacity build of recycled PE in Southeast Asia totaling up to 50,000 metric tons per year is due by the end of 2021, and will likely moderate Virgin PE demand growth moving forward.
Additional details of the assessments may be found in the methodology and specifications guidelines. For more on petrochemicals, visit: https://www.spglobal.com/platts/en/commodities/petrochemicals
S&P Global Platts has been covering petrochemicals markets for nearly 40 years and has an extended suite of aromatics and olefins and price assessments regionally and globally.
Americas: Kathleen Tanzy, + 1 917-331-4607, email@example.com
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SOURCE S&P Global Platts