Generic Hero BannerGeneric Hero Banner
Latest market news

US PET recycling rate rose in 2023

  • Market: Petrochemicals
  • 13/12/24

The 2023 US recycling rate for PET bottles rose to 33pc, its highest level since 1996, according to data from the National Association for PET Container Resources (NAPCOR).

The US collected 1.96bn lbs of PET bottles for recycling in 2023, up by 2.7pc from 1.91bn in 2022, even while fewer bottles were produced, according to NAPCOR. Overall PET bottle production was 5.95bn lbs in 2023, a 9.8pc drop from 2022.

The rPET content rate in US bottles reached a high of 16.2pc in 2023, up from 13.2pc in 2022. Total US rPET content in bottles reached 966mn lbs in 2023, up from 870mn lbs in 2022.

NAPCOR said the increase in collection demonstrates increased demand for rPET across the US.

Overall North American PET bottle recycling rates also increased in 2023, reaching a high of 41.3pc.

Despite the increase in recycled production in 2023, it was a tough year for recyclers due to a drop in consumer spending, which tightened the amount that bottlers and brands were willing to spend on recycled material.


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News

US to lay out tariff demands in coming days: Trump


04/07/25
News
04/07/25

US to lay out tariff demands in coming days: Trump

London, 4 July (Argus) — The US will lay out its tariff demands on foreign trade partners in the coming days, President Donald Trump said today. From tomorrow, 5 July, Trump will send letters to 10-12 countries a day, with the aim that all countries will be "fully covered" by 9 July, Trump said. That rate will not cover the amount of tariff deals still to be done by the US, which to date has struck three deals — of 10pc with the UK and China and of 20pc with Vietnam. "[The tariffs will] range in value from maybe 60pc or 70pc tariffs to 10pc and 20pc tariffs," Trump said. Countries will start paying them on 1 August, he said. Since 5 April Washington has been charging a 10pc extra tariff on imports — energy commodities and critical minerals are exceptions — from nearly every foreign trade partner, and those rates could go higher after 9 July. Trump has justified those tariffs by citing an economic emergency caused by allegedly unfair trade practices in foreign countries, and his administration is engaged in talks with foreign governments with the nominal goal of lowering their trade barriers. By Haik Gugarats and Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Japanese firms advance LCO2/methanol carrier project


03/07/25
News
03/07/25

Japanese firms advance LCO2/methanol carrier project

Tokyo, 3 July (Argus) — Japanese shipping firm Mitsui OSK Lines (Mol) and shipbuilder Mitsubishi Shipbuilding have made progress in developing an ocean-going liquified CO2 (LCO2) and methanol carrier, which would play a key role in establishing the country's carbon capture, utilisation and storage (CCUS) value chains. Mol and Mitsubishi have obtained approval in-principle (AiP) from Japanese classification society Class NK for their design concept of a LCO2/methanol carrier. The vessel would ship CO2 out of Japan and deliver CO2-based synthetic methanol (e-methanol) on return voyages to the resource-poor country, the companies announced on 30 June. The AiP certifies that the basic design of the vessel meets international regulation standards, such as technical requirements, as well as relevant safety restrictions covering the transportation of dangerous chemicals and liquefied gases in bulk. This is the world's first issuance of an AiP for a LCO2/methanol carrier, Class NK said. The approval is a major step forward for the companies, which hope to develop the vessel for commercialisation. The target date for its commissioning is still unclear. Mol expects the carrier to help meet Japan's growing demand for CO2 exports and e-methane imports with higher transport efficiency, unlike the use of a dedicated vessel for CO2 or methanol, which results in empty-cargo operation on half of the trips. E-methanol can be produced using CO2 and renewable hydrogen, which will contribute to decarbonising a variety of industries including the maritime shipping sector. Mol has previously invested in US synthetic fuel (e-fuel) producer HIF Global, while working with Japanese refiner Idemitsu and HIF subsidiaries HIF USA and HIF Asia Pacific to develop supply chains for synthetic fuel and e-methanol as well as CO2. HIF plans to produce around 4mn t/yr of e-methanol equivalent by 2030 at its production sites in Tasmania in Australia, Matagorda in the US, Magallanes in Chile and Paysandu in Uruguay by using green hydrogen and CO2, Mol has said. CCUS value chains would help fossil fuel-reliant Japan reduce its greenhouse gas (GHG) emissions by 60pc by the April 2035 to March 2036 fiscal year and by 73pc by 2040-41, against 2013-14 levels, before achieving the net-zero emissions by 2050. The Mol group, for its part, aims to reduce emissions intensity in transportation by 45pc against 2019 levels by 2035, as it works towards overall net-zero emissions by 2050. Japan's GHG emissions totalled 1.017bn t of CO2 in 2023-24 , down by 4.2pc from a year earlier to the lowest in 34 years, according to the country's environment ministry. This also reflected a 27pc decline against a 2013-14 baseline. By Japan Newsdesk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Alternative-fuel ship orders fall in 1H 25: DNV


01/07/25
News
01/07/25

Alternative-fuel ship orders fall in 1H 25: DNV

Sao Paulo, 1 July (Argus) — Orders for new alternative-fuelled vessels fell in the first half of 2025 from a year earlier, according to Norway-based classification agency DNV. It said 151 new alternative-fueled vessels were ordered, down from 179 in the same period in 2024. These orders represented 19.8mn gross tonnes (GT), up by 78pc from the same period in 2024. LNG-fueled vessels accounted for 87 of the new orders in the first half, followed by methanol-fueled ships, with 40. DNV said 17 were LPG-fueled vessels, followed by hydrogen with four orders and ammonia with three. Orders for alternative-fueled vessels totaled 19 in June, up from 16 in May. The orders included 11 LNG-fueled vessels, four methanol-fueled ships, two hydrogen-fueled vessels, and two LPG carriers. By Natália Coelho New orders, 1H 2025 Fuel Number of vessels LNG-fueled 87 Methanol-fueled 40 LPG-fueled 17 Hydrogen-fueled 4 Ammonia-fueled 3 DNV Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Mexico’s trade balance swings to surplus in May


26/06/25
News
26/06/25

Mexico’s trade balance swings to surplus in May

Mexico City, 26 June (Argus) — Mexico's trade balance returned to surplus territory in May, as higher crude export volumes helped to offset drags on manufacturing from US tariffs. Mexico recorded a $1.03bn trade surplus in May, statistics agency Inegi reported Thursday, swinging from a $88mn deficit the previous month. Total exports in May were valued at $55.5bn, while imports reached $54.4bn. The surplus was wider than Mexican bank Banorte's forecast of $279mn. The balance reflects the trade deficit in oil-related products narrowing to $2.11bn in May from $2.87bn in April, as well as a rebounding surplus in non-oil trade to $3.14bn from $2.78bn in April. Mexico ran a $2.04bn trade surplus for the January-May period, including a $10.96bn surplus in non-oil trade and a $8.92bn deficit in oil-related trade. This reflects the longer-term trend of growing non-oil exports set against widening deficits of oil-related goods. Manufacturing exports — especially autos — have been the most affected by US tariffs enacted in March and April. Despite US exemptions tied to trade treaties, Mexico still faces an average effective US tariff rate of 11.9pc — the eighth highest globally and the highest in the western hemisphere, according to Fitch Ratings. The auto industry is also participating in negotiations to soften steel and aluminum tariffs to prevent further supply chain disruptions. Manufacturing exports fell by 0.6pc in May after a 0.7pc drop in April. Auto exports declined by 1.3pc in May, following a 4.8pc fall in April. Inegi reported a 10.3pc annual drop in the value of auto exports to the US in May, after an 8pc decline in April. Exports had surged 6.5pc in March as companies rushed shipments ahead of tariff implementation. Agricultural exports contracted by 2.6pc in May from the previous month after rising 2pc in April, while non-oil mining exports contracted 2.9pc after surging 26pc in April. Oil-related exports totaled $2.06bn in May — $1.33bn in crude and $722mn in refined products — compared with $1.83bn in crude alone in April. This comes despite a stronger peso and lower oil prices. Mexico's crude export mix averaged $57.88/bl in May, down $2.94/bl from April and $16.51/bl below the year-earlier level. Crude export volumes rose to 743,000 b/d from 693,000 b/d in April but remained below the 930,000 b/d exported in May 2024. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more