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

Rebound Plastic Exchange, a quality assured global trading platform for recycled plastics, will ensure transparency whilst facilitating cross border trade to unlock circularity worldwide

ABU DHABI, UAE, Dec. 9, 2022 /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 from over 21 countries, allowing Rebound Plastic Exchange to help source plastic feedstock at the preferred price ranges.

"The recent launch of Rebound Plastic Exchange will give Mexico a competitive advantage on its journey to circularity, connecting buyers and sellers worldwide, providing companies and nations with a vital benchmark for quality assurance," says Maryam Al Mansoori, General Manager, Rebound Plastic Exchange.

Leading companies in Mexico's plastics industry have committed towards recycling under the National Agreement for the New Plastics Economy. Since 2019, signatories have agreed to register waste management plans with Mexico's Ministry of Environment and Natural Resources⁸. Under the federal agreement, plastic containers and packaging must be 100% reusable, recyclable or compostable by 2030.

Industry members, whether buyers or sellers of recycled plastics, can register on Rebound Plastic Exchange free of charge and access a global marketplace for quality assured feedstock.

¹https://www.plastico.com/es/noticias/recycling-mexico-industry-potential

²https://leap.unep.org/countries/mx/case-studies/mexico

³ https://www.trade.gov/country-commercial-guides/mexico-plastics-and-resins#:~:text=Mexico%20recycles%20about%2014.5%20percent,cost-effective%20to%20source%20locally.

⁴https://www.privacyshield.gov/article?id=Mexico-Plastic-Materials-Resins

⁵https://www.privacyshield.gov/article?id=Mexico-Plastic-Materials-Resins

⁶https://www.plastico.com/es/noticias/recycling-mexico-industry-potential

⁷https://www.privacyshield.gov/article?id=Mexico-Plastic-Materials-Resins

⁸ https://cms.law/en/int/expert-guides/plastics-and-packaging-laws/mexico

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