July 2024 Market Insights

Ritesize logo
Sell Commodities
Blog

July 2024 Market Insights

Back to Resources

📰 July 2024 Market Update 

 

Welcome, recycling enthusiasts! Here’s your July dose of recycled resin market insights, served up with a regional flair. Let’s dive into the numbers and see what’s brewing around the globe.

🔄 rPET (Recycled PET)
Global Price: $1,350/ton (up from $1,320/ton last month)

  • North America: The rPET scene is heating up with prices climbing due to an uptick in demand from eco-conscious brands and tighter post-consumer bottle supply. Major players are ramping up their sustainability goals, and that’s putting pressure on the market. Expect prices to continue trending upwards as recyclers scramble to meet the green demand.

  • Europe: Here, rPET prices are inching upwards, but not as dramatically. Europe’s push for higher recycled content in packaging is keeping demand steady, while supply chain bottlenecks are causing some price pressure. With new regulations in the pipeline, this trend may persist.

  • Asia: Asia is catching the rPET wave too. Prices are rising modestly as China and other key players boost domestic recycling efforts. But, with improved recycling infrastructure, Asia is balancing the supply-demand scales better than most, though collection rates can still be a wild card.

🔄 rPP (Recycled Polypropylene)
Global Price: $950-1,000/ton (up from $920/ton last month)

  • North America: rPP prices are seeing some action with a noticeable uptick. This is driven by rising raw material costs and increased adoption in automotive and consumer goods. Supply chain disruptions are also playing a role in the price volatility.

  • Europe: The European market is reflecting similar trends, with prices climbing due to rising production costs and a demand spike for higher-quality recycled polypropylene. The region’s focus on circular economy practices is definitely impacting the pricing.

  • Asia: Asia’s rPP market is a bit of a rollercoaster. Prices are fluctuating as raw material costs and recycling infrastructure vary across countries. Increased interest in recycled polypropylene is driving some volatility, but overall, the region is seeing a price range similar to the global trend.

🔄 rHDPE (Recycled High-Density Polyethylene)
Global Price: $1,200/ton (up from $1,180/ton last month)

  • North America: rHDPE prices are climbing, fueled by strong demand from construction and industrial sectors. Supply chain challenges are adding to the price pressure, but innovations in recycling are helping to boost availability and quality.

  • Europe: The European rHDPE market is experiencing similar price hikes. Robust demand and logistical issues are driving up costs, but advancements in recycling processes are helping to balance the market somewhat.

  • Asia: In Asia, rHDPE prices are also on the rise, with industrial demand pushing the market upwards. Improvements in recycling tech are contributing to quality enhancements, though regional supply issues continue to impact pricing.

🔄 rLDPE (Recycled Low-Density Polyethylene)
Global Price: $1,100/ton (up from $1,080/ton last month)

  • North America: Prices for rLDPE are trending upwards due to steady demand from packaging and agricultural sectors. Advances in recycling technology are making rLDPE more appealing, contributing to the gradual price increases.

  • Europe: The European market is seeing a similar pattern with steady price hikes. Improvements in recycling efficiency and quality are driving this trend, and the market remains stable despite minor fluctuations.

  • Asia: rLDPE prices in Asia are gradually rising, supported by increased adoption of recycled materials and enhanced recycling capabilities. The region’s focus on sustainability is evident in the pricing trends, though regional variances can affect local markets.

🔄 rLLDPE (Recycled Linear Low-Density Polyethylene)
Global Price: $1,050/ton (down from $1,070/ton last month)

  • North America: Prices have ticked down slightly, thanks to an oversupply situation and stable production levels. The agricultural sector and flexible packaging applications are maintaining steady demand, but with supply balancing out, we’re seeing some price relief.

  • Europe: Europe’s rLLDPE market is holding its ground with a modest decrease in prices. The region’s advanced recycling tech and stable demand from packaging sectors are keeping things on an even keel, though fluctuations could be on the horizon.

  • Asia: In Asia, LLDPE prices are falling as recycling processes improve and production capacity expands. The region’s shift towards sustainability is driving efficiency, and that’s reflected in the pricing trends. Keep an eye on how new tech impacts these numbers.

In Summary: The recycled resin market is a dynamic landscape with varied trends across regions. From price hikes to stability, each region is influenced by local demand, regulatory changes, and supply chain factors. Stay tuned for more updates and keep your eyes on the global market!