What is Circular Plastics Economy?

To secure the livelihoods of humanity, the well-established linear economy is gradually being replaced by a circular economy. However, the global economy is only about 7% circular - currently with a downward trend. This development exerts enormous pressure on the chemical and plastics industries to reform and adapt, thus leading to new products and business models, some of them being hitherto unthought of. Undoubtedly, the plastics industry cannot be renewed with the installed methods of recycling alone. The entire value chain must be, at least in major parts, rethought and redesigned under the principles of the circular economy - in line with the needs of society and the plastics industry. Historically, circularity has focused on separating and recycling waste. We summarize this perspective under the German term "Kreislaufwirtschaft" and emphasize that Circular Economy requires a significant different and wider approach.