A circular economy is an economy that is restorative and regenerative by design and aims to keep products, components, and materials at their highest utility and value at all times while distinguishing between technical and biological cycles. For 2019, sustainability, recycling, and the circular economy were among the top industry trends; and they will continue to be so for the next decade to reduce plastic waste, carbon footprints, and emissions.
PreScouter investigated 10 companies that fall under one of the two main circular economy categories: recycling and reusing. In North America, current recycling infrastructure doesn’t recover more than 10% of post-consumer plastics, and today’s supply of recycled plastics meets just 6% of real demand. Closed Loop Partners estimates the addressable market in Canada and the U.S. for plastics and petrochemicals to be $120B, which could be met, in part, by recovering waste plastics. This is where PreScouter sees the significance of this report by presenting innovative technologies in place.
