Analysis of the "circular plastics economy" phenomena and its long-term implications for demand for petroleum market.

In recent years, the issues of polymer pollution and carbon footprints have stirred up an active debate around the future of petrochemical industry, which over the past 50 years has been a significant driver of global oil demand. It is assumed that the transition to a "circular plastic economy" should resolve environmental issues for the industry, simultaneously eliminating its dependence on petroleum feedstock. In this work, the authors attempted to untangle the concept of "circular plastics" and assess its potential impact on the market of liquid hydrocarbons.