The U.S. Continues to Advance Recycled Plastic Legislation, Bringing Changes to the Global Market
Recently, multiple U.S. states have proposed legislation related to recycled plastics, including the 2023 Break Free from Plastic Pollution Act, promoting the Extended Producer Responsibility (EPR) system and requiring companies to increase the recycling rate of plastic products. This move demonstrates the U.S. government's continued efforts to combat plastic pollution and encourage broader societal participation in plastic recycling and reuse.
These new laws will mandate U.S. companies to use more recycled plastic materials in their production processes, which is expected to significantly boost demand in the recycled plastics market. Additionally, the legislation includes tax incentives to encourage companies to invest more in the recycled plastics industry. These initiatives will further promote the development of the recycled plastic supply chain and create more market opportunities for relevant businesses.
From a global market perspective, this legislative progress in the U.S. will have a profound impact on the recycled plastics industry. The global supply chain is expected to adjust in response to changes in U.S. market demand, particularly in Asian markets, where countries like China and India may see increased trade opportunities.
Industry experts point out that the U.S. legislation will accelerate the standardization of the global plastic recycling market and play a significant role in advancing the progress of the circular economy and green development.
