SINGAPORE, April 2, 2024 /PRNewswire/ -- ICIS, a global source of commodity intelligence, is proud to announce the launch of its latest pricing index for recycled polypropylene (R-PP) in Asia. This new service will support the industry's shift towards more sustainable and circular economy models, reinforcing ICIS' dedication to bringing transparency to circular plastics markets and providing customers with the tools needed to make well-informed decisions.
The service will track six spot pellets assessments for natural and black grades across the region.
Asia is emerging as a pivotal market, drawing new investments, and establishing itself as a primary exporter of R-PP in response to the growing demand for recycled materials spurred by consumer, regulatory, and investor pressures for a shift towards a circular economy. The introduction of the ICIS R-PP pricing index in Asia arrives at a critical time when the industry faces challenges such as market opacity, fragmentation, and the need for reliable data amidst the expansion of R-PP in Asia into new end-use applications, including the packaging of fast-moving consumer goods (FMCGs) and automotive parts.
The challenges encountered by both buyers and sellers in the R-PP market highlight the critical need for market insights. Buyers often grapple with grasping the financial nuances of shifting from virgin PP to recycled PP, while sellers struggle with pricing benchmarks, contract negotiations, and the evaluation of opportunities for production growth or new investments.
"Cost structures and market drivers of circular plastics differ significantly from virgin equivalents, and markets are hard to track, predict and understand. Buyers can no longer use virgin values as a predictor for recycling markets. Two grades of the same recycled material can currently see a substantial difference in pricing because they serve different end-users," commented Arianne Perez, Senior Editor, Recycling at ICIS.
"ICIS is taking a strategic step to address these challenges in the R-PP market. By pricing R-PP in Asia, we are providing buyers and sellers with the necessary insights to navigate this evolving landscape efficiently. It brings transparency into contract negotiations, and enhances ICIS' unparalleled portfolio of recycled plastics market intelligence, designed to support the industry's shift towards circular economy models." concluded Arianne Perez.
The introduction of the ICIS R-PP pricing index in Asia complements current datasets & tools providing intelligence on recycled markets across Asia, Europe and US including R-PET, R-PP, R-PE, such as ICIS' Recycling Supply Trackers, Pyrolysis Oil Pricing Indexes, and recycled polyolefins analytics. This marks another significant advancement in ICIS' circular plastics initiatives to address both pricing fluctuations and sourcing complexities in this increasingly important sector.
To find out more information about the factors influencing recycled polyolefins (R-PE, R-PP) markets please visit https://www.icis.com/explore/commodities/chemicals/r-pe-r-pp/
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world's valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of $81bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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