For businesses, buying recycled materials is like buying second-hand at full. Especially during the COVID-induced decrease in oil prices, the price of “virgin” plastics is much lower than the price of post-consumer plastics.
However, the industry is seeing a rebound in the value for recycled content in produciton and packaging. With supply chain shortages, virgin materials are harder and more costly to acquire. Multiple global economic factors are supporting a rise in demand for recycled feed stock, leading to a larger need to capture quality materails and put them back into the circular economy.