the European chemicals industry intends to go climate neutral by 2050. To do so, it needs to change how and what it produces in less than 30 years, while remaining globally competitive.
As the fourth largest manufacturing industry in Europe providing 1.2 million direct jobs plus 19 million more across the value chain, the chemical sector plays a key role.“What should be the dream of any company in the chemical industry?” she asked. “It's to produce and market innovations. Products must be safe, durable, and sustainable. They must be cost-effective, energy-efficient, and designed to be recyclable.
For the chemicals industry, going circular requires new recycling technologies, the use of more recycled content and a more regulated use of raw materials. It also requires large amounts of bio-based feedstock.“We find that the mandatory recycled content of plastics, for example, is useful as an incentive,” said Lemoine. “Currently, recycled plastic tends to be more expensive than virgin plastics.