Less than two weeks to go for BIR Singapore 2024 – Plastics recycling under pressure: Low margins, high costs and market challenges threaten sustainability
Plastics:
Plastics recycling under pressure: Low margins, high costs and market challenges threaten sustainability
Despite significant investments in processing capacity, many recyclers are struggling to achieve profitability due to low virgin prices and weak demand. This has led to a lack of optimism in the market, with companies facing low margins, high energy costs, and elevated interest rates. The revised Waste Shipment Regulation and competition from cheap virgin material are further complicating the situation for recyclers in various regions. Overall, the plastics recycling industry is facing a challenging period, with many companies struggling to survive and achieve sustainability goals.
These, and many more topics, will be addressed during the upcoming Plastics session in Singapore chaired by divisional President Henk Alssema.
Speakers and Panelists
Steve Wong is the Executive President of the China Sustainable Plastics Association (CSPA) and founder of Fukutomi Co Ltd, a Hong Kong-based plastic recycling company. He is a strong advocate for sustainability, with over 30 years in the plastics recycling industry.
He also serves as President of the Asia-Pacific Sustainable Plastics Alliance and is a member of the Bureau of International Recycling (BIR) Plastics board. Steve’s efforts have significantly influenced China's evolving recycling policies.
He will give a presentation on WEEE recycling.
Alev Som
er is the Trade & Environment Director of BIR, responsible for environmental and industrial policy affairs. With over ten years of experience in public affairs, she has worked in various sectors, including leading environmental committees at the European Aggregates Association.
During the session, she will provide an overview of the International Plastics Treaty.
Max Craipeau is the CEO of Greencore Resources Ltd (Hong Kong, China), a global recycling company specializing in processing plastics and rubber. He has been active in the recycling industry for more than a decade, advocating for solutions to ocean-bound plastics and leading the Tyres and Rubber Committee at BIR.
Max’s company operates in Indonesia and Poland, focusing on sustainable recycling solutions.
He will give an update on the current situation regarding recycling in Southeast Asia.
Bas
har Ehsan Gadawala is the Director of Operations at ALA International FZE, a Dubai-based company involved in metal and plastic recycling. Raised in India, he later pursued a business degree in the UK. Bashar joined his family business in 2010, managing a metal scrap yard before diversifying into plastics.
He established a plastic recycling facility in Dubai in 2019, with a strong focus on sustainability and environmental impact.
Bashar will be participating in the subsequent panel discussion with the speakers, which will be chaired by Henk Alssema.