Page 54 - Plastics News Issue March 2024

BUSINESS NEWS

odegradable plastics and plastic- In a sea of environmental challenges, Particularly notable in this regulatory
free packaging solutions signify a the PLASTICS Industry Association’s turbulence are Dubai’s ban on single-
transformative approach in mate- recent report highlights a notable in- use plastics and the German govern-
rial science. crease in the recycling of plastics in ment’s possible tariff on plastic pack-
• Navigating Regulatory and Mar- the United States. Meanwhile, Aus- aging, which both point to a global
ket Changes: Businesses adapt- tralia’s largest PET plastic bottle re- shift towards stricter waste manage-
ing to single-use plastic bans and cycling facility has recently opened ment.
evolving regulations, with a global in Victoria, indicating a shift toward Innovation in Plastic Alternatives
trend towards stricter waste more sustainable practices around The invention of UV-biodegradable
management. the continent. In a similar vein, Plastic plastics, Upfield’s recyclable tub,
• Short-Term to Long-Term Im- Recyclers Europe’s proposal for uni- and Sirane’s plastic-free butter wrap
pacts: Immediate need for busi- fied plastic collection indicates a con- are examples of innovative initiatives
nesses to adapt to changing tinental agreement on the necessity of that are redefining the material’s fu-
consumer preferences and new reduced procedures. ture. Furthermore, cutting-edge mi-
regulations. Anticipated surge in Corporate Environmental Initiatives croscopic methods for tracking na-
demand for recycled and alter- In the business sector, the inventive noplastics and the development of
native materials, requiring new way that LyondellBasell has repur- self-healing plastics are pushing the
equipment and processes in the posed marine debris into new plastics boundaries of study and hint at a time
mid-term. The future plastic and the admirable effort of Wisewell when plastics will be a part of the so-
economy will hinge on sustain- to divert two million plastic bottles lution rather than the issue.
able practices and circular econ- from landfills are examples of the in- Impacts in the Short, Mid, and Long
omy principles. dustry’s flexibility and inventiveness. Term
How We Researched and Where this Lidl GB’s ‘Prevented Ocean Plastic’ Businesses need to prepare for the
Data is from packaging expansion and Coca-Cola’s immediate impact of shifting custom-
This article is fueled by insights from collaboration on the Circular Plastics er attitude and regulatory changes in
the StartUs Insights Discovery Plat- Case Competition are examples of a the near future. The industry should
form, a comprehensive resource larger market trend where sustain- anticipate a spike in demand for re-
tracking more than 3.7 million start- ability is becoming more than simply cycled and alternative materials in
ups and scaleups globally. Our plat- a trendy term but a necessity for busi- the middle term, which will call for
form monitors over 20,000 technolo- ness. the purchase of new equipment and
gy trends, covering 100K feeds across Regulatory Push for Sustainable Prac- procedures. Over time, circularity
various industries. tices and sustainability are going to be the
For this piece, we’ve leveraged the The plastics industry is changing at main pillars of a redesigned plastics
platform to analyze 1000 of the most the speed of a coastal storm thanks to economy.
recent and impactful news evolving the Regulatory Riptide Regulations. A Leaders in business and innovation
around the plastic industry. Further, bold step to reduce plastic pollution is management need to take note of
our platform allows you to dig deeper the Australia Institute’s planned $1.5 these advancements, making invest-
into plastic industry and investigate billion levy on virgin plastics, while ments in research and development
other topics based on your prefer- Greenpeace’s “The Big Plastic Count” for sustainable materials, adjusting to
ences. Interested in exploring the lat- 2024 initiative in the UK and Canada’s new laws, and encouraging partner-
est news, developments, innovations, federal plastics registry are inspiring ships that advance circular economy
and breakthroughs relevant to your public and political action. principles. The road ahead is obvious:
business? Book a demo with us today Businesses need to carefully manage either embrace sustainability or let the
and discover the full potential of our the waves of change brought about winds of change carry you away from
platform for your strategic needs. by the bans on single-use plastics the formidable obstacles. Stay tuned
What’s Currently Happening in the implemented in a number of places, for our next installment on quarterly
Plastic Industry? from California’s legislative efforts advancements in the plastics business.
An Upsurge in Recycling Projects to Bangladesh’s decision to ban jute.

56 PLASTICS NEWS March 2024