Rebound Plastic Exchange to support Mexico fulfill its National Agreement for the New Plastics Economy by 2030

Rebound Plastic Exchange to support Mexico fulfill its National Agreement for the New Plastics Economy by 2030

ABU DHABI, UAE /PRNewswire/ -- Rebound Plastic Exchange, a global B2B digital trading platform for recycled plastics, is ready to support Mexico fulfill its 2030 recycled plastics targets. More than 44 million tons of waste are generated in Mexico annually, with pending predictions capped at 65 million tons by 20301. Though Mexico has a high waste collection rate of 91%, most of this waste is improperly disposed in unregulated landfills2. Overall, Mexico recycles about 14.5 percent of all plastics consumed nationwide, with no significant increase over the last five years3.

In 2018, Mexico was the largest market for United States (US) exporters of plastics products, totalling $17.9 billion4. Currently, Mexico manufactures a large variety of secondary and tertiary plastic materials including PP film, PVC pipe and fittings, laminates, and acrylic materials. Almost 40% of recycled PET materials are now being exported5. Overall, Mexico is leading global figures in PET recycling in the country with a rate of 56%, not far behind the European Union (EU), rated at 57%6. Mexico's plastics market will continue to increase as Mexican imports of U.S. plastic resins and plastic parts supply the growing automotive and aerospace industries.7 Active buyers and sellers on the global marketplace come