Page 40 - Plastics News May 2023

FEATURE

in 2021, with North American re- to 187 million lbs, though down from
claimers acquiring 97.8%. Exports of 704.4 million pounds in 2016, with
non-bottle rigids increased slightly to North American reclaimers acquiring
123.3 million lbs, still well below the 83.1%.
2014 peak of 467.8 million lbs, with
North American reclaimers acquiring
88.5%. Film exports also increased,

Global Paper Packaging Materials Market is now driven by sustainability

with sustainable packaging
In Europe, Germany is forecast to
grow at approximately 6.1% CAGR.
Led by countries such as Australia,
India and South Korea, the market
in Asia-Pacific is forecast to reach
$65.4bn by the year 2030.
Rising environmental concerns re-
garding the use of plastics in packag-
ing applications are spurring demand
for paper. The sustainability factor re-
emand for sustainable packaging period. mains critical in driving recycling initia-
Dsolutions, driven by growing en- The market in the US is estimated to tives in the paper packaging materials
vironmental concerns, has been a key be worth $66.3bn as of 2022 while market.
factor contributing to growth. China’s market is forecast to grow The report also provides an analy-
The significance of sustainability at a CAGR of 7.7% over the analysis sis of the technical challenges as-
continues to be a crucial element period and reach a projected size of sociated with sustainable packag-
Sustainability remains a critical fac- $87.5bn by 2030. ing.
tor driving recycling initiatives in the Among the other noteworthy geo- Ultimately, the global paper packag-
global paper packaging materials mar- graphic markets are Japan and Can- ing materials market is expected to
ket, according to the report. The Pa- ada, which are each forecasted to grow significantly in the coming years,
per Bags & Sacks segment is expected grow at 5.4% and 5.8%, respectively, driven by sustainability and recycling
to record a 6.6% CAGR and reach over the 2022-2030 period. initiatives.
$132.8bn by the end of the analysis The technical challenges associated

The upcoming Waste Framework Directive revision is not bold enough

ewiring our relationship with Developed by Eunomia Research &
Rresources through the Waste Consulting, the White Paper, sets out
Framework Directive (WFD) is vital a vision for 2040 where society will
for the EU to continue to innovate use materials and products more ef-
and lead the world in reaching a cir- ficiently in an economy that is well
cular economy by 2040. The revision on its way to circularity. However,
offers an unparalleled opportunity to this will not be achieved within the
design a coherent and consistent poli- scope of the drafted revision of the
cy framework for a circular economy. Waste Framework Directive, which

40 PLASTICS NEWS May 2023