Rebound Plastic Exchange, a global B2B digital trading platform for recycled plastics, has announced that it is ready to support the fulfillment of Mexico’s recycled plastics targets for 2030.
More than 44 million tons of waste is generated each year in Mexico, and predictions indicate that this will reach 65 million tons by 2030. Although Mexico has a high waste collection rate of 91%, most waste is improperly disposed of in unregulated landfills. Overall, Mexico recycles about 14.5 % of all plastics consumed in the country, with no significant increase in the last five years.
In 2018, Mexico was the largest market for United States (U.S.) exporters of plastic products, totaling $17.9 billion. Mexico currently manufactures a wide variety of secondary and tertiary plastic materials including PP film, PVC pipe and fittings, laminates, and acrylic materials. Currently, almost 40% of recycled PET materials are being exported. Overall, Mexico is leading the global figures thanks to PET recycling in the country, which has a rate of 56%, just behind the European Union (EU), whose rate is 57%. Mexico’s plastics market will continue to grow as Mexican imports of plastic resins and plastic parts from the United States supply the growing automotive and aerospace industries. Active buyers and sellers in the global market come from more than 21 countries, allowing Rebound Plastic Exchange to help source plastic raw materials at preferential prices.
“The recent launch of Rebound Plastic Exchange will give Mexico a competitive advantage on its path to circularity by connecting buyers and sellers from around the world, as well as providing companies and nations with a vital benchmark for quality control,” said Maryam Al Mansoori, general manager of Rebound Plastic Exchange.
Leading companies in Mexico’s plastics industry have committed to recycling under the National Agreement for the New Plastics Economy. Since 2019, signatories have agreed to register waste management plans with Mexico’s Ministry of Environment and Natural Resources. Under the federal agreement, plastic containers and packaging must be 100% reusable, recyclable or compostable by 2030.
