Thermolysis produces plastic pyrolysis oil that can be utilized by the chemical industry in the production of virgin-quality plastics, or further refined and blended by refineries for the production of transportation fuels in compliance with applicable regulatory requirements. The process also produces carbon black, which can be utilized across a variety of industrial applications. These products represent valuable resources within the circular economy and the broader plastics value chain.
Demand for recovered monomers and circular feedstocks is expected to grow significantly in the coming years. Global plastic production is projected to increase from approximately 368 million tons in 2019 to nearly 1 billion tons by 2050. Only a small fraction of global plastic waste is currently recycled, while the remainder is landfilled, incinerated, or released into the environment. Mechanical recycling remains the most widely used method of plastic recycling today. However, this process can only address a portion of plastic waste streams and therefore represents only a partial solution to the broader plastic waste challenge. Chemical recycling can help bridge the recycling capacity gap by providing solutions for plastic waste streams that cannot currently be effectively recycled through mechanical methods. Advanced recycling technologies can also support the production of virgin-quality feedstocks and polymers suitable for repeated recycling cycles. In this way, chemical recycling complements existing mechanical recycling capabilities, helping increase overall recycling rates and supporting the transition toward a circular plastics economy. Various regulatory and market incentives worldwide support the use of recycled plastic products, while the corresponding market is expected to grow into a multi-billion-dollar industry in the coming years.