Catalysis 2025 Issue

of plastic recycling investments. One-third will be ded- icated to feedstock sourcing and preparation, while the remainder will go towards building out mechanical and advanced recycling capacity. To achieve 20-30% recycling content for plastic packaging globally, the estimated figure is $100 billion, spanning collection, sorting, and mechanical and advanced recycling technology.1 As such, more collaboration is vital from catalyst provid- ers, refineries, plastic manufacturers, recycling facilities, and government and regulatory bodies. Such partnerships are important tools to de-risk the journey and could include buy-sell agreements for intermediates (including pyroly- sis oil), new ventures to sort feedstock (plastics recovery facilities), and upstream investment by waste management companies. Additionally, government intervention and incentives can help reshape the industry, similar to what originally sustained the growth of fossil fuel feedstocks. Positive momentum is already being seen. Upstream firms are investing in supplementary infrastructure for pyrolysis, a confirmation of their confidence. In February 2024, it was reported that 16 10 kta pyrolysis units were scheduled to come online in Europe in 2024 and 2025. Conclusion The urgency to find a solution for plastic waste increases alongside rising plastic consumption. The research sup- ports shifting to a circular economy, suggesting that doing so could reduce the volume of plastics entering oceans by 80% by 2040, and greenhouse gas emissions by 25%. From an economic standpoint, a circular economy could

save governments $70 billion by 2040, create 700,000 additional jobs, and represent a revenue opportunity of more than $1 trillion in Europe alone in 2050. As an innovative and forward-looking solution, pyrolysis holds significant promise, and a greater adoption rate will benefit from economies of scale. It is estimated that by 2040, chemical recycling technologies will experience an average cost reduction of 37.5%, and by 2033, pyrolysis could reach positive net earnings. The costs for virgin plastics produc- tion are expected to increase substantially, by up to 71%. This estimate is driven in part by increased fossil fuel prices, making a method like pyrolysis a necessity. By integrating knowledge across the entire value chain, the supply of pyrolysis oil feedstock and the demand for recy- cled materials can expand, diversifying and de-fossilising the pool of raw materials available to refineries. The important role that chemical recycling, particularly pyrolysis, plays in delivering a circular plastics economy cannot be denied. Reference 1 McKinsey & Company, August 16, 2023, A unique moment in time: Scaling plastics circularity. www.mckinsey.com/industries/chemicals/ our-insights/a-unique-moment-in-time-scaling-plastics-circularity Markus Hartung is Vice President and Head of Global Commercial Processes & Region EMEA Catalysts at Evonik Operations. With a career spanning more than 20 years, he has been instrumental in developing cat- alyst technologies, particularly regarding the circular economy. Hartung holds a Master’s in process engineering from Frankfurt University of Applied Sciences and an Executive Master’s in business marketing from Freie Universität Berlin. Email: markus.hartung@evonik.com

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Catalysis 2025