Navigating the future of plastics

The plastics industry is facing many changes due to the impact of COVID-19 pandemic, regulations and demands for sustainability. To address these, UOB organised a webinar for players in the sector. Held on 22 October 2020, UOB’s team of experts from the Centre of Excellence (Energy & Chemicals) - Mr Joseph Poh, Head of Energy & Chemicals, Group Wholesale Banking, Mr Gary Lee, Mr Puang Kiong Seng and Ms Tan Shew Heng shared observations on key trends and regional developments in the plastics industry, recycling regulations and initiatives as well as the banking solutions available to support businesses in navigating the changing landscape.

The webinar can be accessed on-demand here.

 

On the topic of ‘Navigating the future of plastics’, this presentation deck highlights how COVID-19 lockdowns have benefitted the single-use plastics making industry, growth outlook of key polymer inputs to plastics, government regulations on recycling and sustainability initiatives and UOB’s customised solutions for the industry. It is a useful guide for anyone who is within or is engaged with companies in this sector. Click on the red button below to download the presentation deck.

Generally, increase in plastics usage during COVID-19 lockdowns was largely driven by plastics used in food deliveries such as containers for food, cutlery and bags when eateries and restaurants were closed and e-commerce packaging when shops were not opened.

China, Thailand, Indonesia and Malaysia have all announced some form of ban of single-use plastics starting from 2020 onwards.

Alongside the ban on single-use plastics, governments in these markets have also set regulatory targets and initiatives for recycled plastics.