In 2017, a report from UN, reported that 51 trillion plastic particles are present in our oceans; 500 times more than the stars in the galaxy.
Many states in US have announced ban on single use plastics. European Union passed a tax of €0.80 (about $1.00) per kilogram on non-recycled plastic packaging waste. EU Directive 2018/852 on packaging and packaging waste calls for 50% recycling of plastic packaging by 2025 and 55% by 2030. China’s open sword policy has banned import of more than 24 types of plastic waste. As a consequence of the above it is predicted that crude oil demand for petrochemicals can shrink by more than 20% by 2040.
How realistic are these predictions and how effective are targets set by governments. For these to become a reality plastic recycling has to become viable and to achieve this viability following questions need to be answered: