Plastics Manufacturers Delay Investments

According to an October 15, 2020 Wall Street Journal story  “… Petrochemical makers delay investments in new U.S. plants as profitability shrinks … Surging investments in the hot area overshot demand … heightened awareness about plastic waste is already returning even as the pandemic continues. Governments have been moving to penalize the use of virgin plastic and incentivize recycling, which could further hit the prospects of petrochemical plants. Packaging accounts for about one-quarter of all plastic production globally … Growth in demand for that type of packaging in North America is forecast to drop to 2% in 2021, from 5% this year …” #PlasticWaste #SingleUsePlastic #FoodPackaging #Recycling #PlasticRecycling