Chemical leaders seeking a competitive edge often realize the vast possibilities of a circular economy. It can offer a clear pathway toward sustainability goals by minimizing waste and reducing scope 3 emissions while retaining economic value. And momentum is expected to grow further in 2024 as new projects are announced or come online.
Plastics recycling: more states may be likely to consider advanced recycling legislation in 2024, which could provide clarity for companies that are considering whether to expand capacity.
Battery recycling:Lithium-ion battery recycling has garnered attention in recent years and is poised to grow in 2024 and beyond.Furthermore, while battery scrap will likely be the feedstock for many of these battery recycling facilities initially, end-of-life EV battery volumes are expected to rise considerably in the 2030s.
Bio-based feedstocks: The growth of bio-based feedstocks continues to show promise.
Building localized supply chains:Building resilient supply chains may be key to the success of any of these circular solutions. So far, companies have demonstrated their ability to innovate through new business models and partnerships. Some companies have signed long-term contracts with feedstock suppliers and recycled content offtakers to help minimize risks.
From:Deloitte
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