Global Plastics Industry News Summary for July 26, 2024

European Plastics Market Price Trends
The European plastics market has recently experienced price fluctuations. Ethylene and propylene prices are expected to rise in August, despite the typically low summer demand, with stable prices anticipated in the fall​ (Plastics Assoc.)​.

Decline in German Business Confidence
Concerns over the economic recovery in Germany and the Eurozone have led to a continued decline in business confidence among plastic processors. This sentiment reflects ongoing uncertainty about future economic trends​ (Plastics Assoc.)​.

LG Chem Suspends U.S. Projects
Due to high construction costs, LG Chem has shelved its lactic acid and PLA (polylactic acid) projects in the United States. This decision may impact the North American bioplastics market​ (Plastics Assoc.)​.

U.S. Plastic Packaging Initiatives
Plastipak will supply Kraft Heinz with 100% food-grade recycled PET (rPET) containers, marking a significant step towards a circular economy and sustainability​ (Plastics Assoc.)​.

Capacity Expansion at Turkish Kimpur
Turkish polyurethane system house Kimpur plans a significant capacity expansion at its production site to meet future market demand. This development is a key advancement in the Turkish plastics industry​ (Plastics Assoc.)​.

New U.S. Plastics Industry Standards
The Plastics Industry Association (PLASTICS) in the United States has released new national standards for the safety requirements of flat cast film and cast embossed film extrusion machines. These standards aim to enhance industry safety and production efficiency​ (Plasteurope)​.

Advancements in Plastic Recycling Technology
RecyClass has updated its packaging design guidelines and introduced new tests and European laws to advance plastic recycling technologies​ (Plastics Assoc.)​.

Expansion of Plastic Recycling Facilities in France
Citeo in France has commissioned its second post-sorting center, significantly boosting its plastic waste processing capacity and advancing France's plastic recycling efforts​ (Plastics Assoc.)​.

Recovery Prospects for the U.S. Plastics Market
Despite a sluggish first half of 2023, the U.S. plastics market is expected to recover in the second half of 2024, with the industry poised for strong growth​ (Plastics Assoc.)​.

New Plastic Projects in China
Zhejiang NHU in China has launched a large-scale PA 6.6 project in Tianjin, planning to build feedstock facilities. This demonstrates China's continued investment in the plastics industry​ (Plastics Assoc.)​.