Sales of Italian recycled plastic drop by 30% in 2023

Sales of Italian recycled plastic are set to drop by 30% in 2023 due to competition from cheaper virgin plastic produced in Asia, the association of Italian plastic recycling companies Assorimap said on Thursday, Azernews reports, citing ANSA.

The domestic plastic recycling industry has lost ground to manufacturers of the virgin product due to a fall in oil prices and business innovations, Assorimap president Walter Regis told ANSA.

In Italy 60 companies operate in the plastic recycling industry, employing a total of 3,000 people and with a total turnover of over one billion euro.