Is EU Plastics Recycling bankrupt?

I have been bothered for some time by the news reporting on plastic and the framing that it is bad and must be eradicated. Everything is measured with the same yardstick and considered being just one, “Plastic”, subject. See for example also a recent article in a Dutch paper, @NRC, with the (Google translated) included text: “The world loves plastic. Disposable bags, synthetic clothing or children's toys - what is it not useful for?”

And the same applies to the “propaganda” (I have no other word for it) from companies that can make "anything" from recycled plastic or produce "plastics from coffee grounds" as well as the mass media about bankruptcies of recycling companies (in Netherlands) and, not to forget, the enormous criticism of China and its huge export of cheap virgin plastic.

I find the news reporting worrying, because it shows me that, at least the visible part, journalism does not investigate this subject enough and sometimes even allows itself to be part of the PR for companies and governments. It's really time for a wider and more diverse perspective!

There is no such thing as one plastic that you can or want to use for everything, there is a diversity of sorts and applications.
And although a large part of the plastics is merely "usefull", and a large part is of great importance, such as in the Automotive industry, there is also a significant group where plastics are essential, such as medical applications - think of pacemakers, ventilators, all kinds of syringes and tubes.

The basis for every plastic is polymers and it is this material, mainly (still) made from fossil oil products, that most determines the properties. But there are quite a few different types, each with their own set of characteristics and each with their importance to society.
The largest group are the polyolefins, produced in bulk, cheap and mostly used for those products that do not have such high material requirements. It is this group that represents the concept of “plastic”. In this, the “Single-use ban” of the EU is best known, but all the “cheap junk” - read clothing and the like - from China, often produced with polyester, from the well-known (over-consumption) online stores is mentioned often.
But these plastics also need to be discussed in a nuanced manner.

I can go along with the idea of limiting the shopping bags, but it remains useful to apply PE for certain gas pipes and, by the way, at home you don't throw away your PE buckets after just one cleaning. And if recycled material was used for polyester textile (such as from PET bottles) then it would change everything, wouldn’t it?

You see similar tunnel vision in items about sustainability and recycling. A lot of PE and PP can be easily recycled and there is enough material to supply the whole world with plastics (multiple times over), but due to laws and regulations it is not possible to use this again in food applications, for example (leaving aside the fact that these are often combined polymers applications, for example PE and Polyamide), so a large group is already eliminated. These regulations too could use some nuance and optimisation, but then you really need a government with expertise (!).
Another group includes technical plastics, such as polyamides, polyesters, polycarbonate and all kinds of very high-temperature polymers, for high-quality applications, such as Automotive, E&E and also medical. With all kinds of additives, it is very complex and...not recyclable into materials that have at least the same properties.  Each processing step results in inferior material properties and we already have enough road signs and rail blocks.
Part of the virgin polymer can be replaced by recycle (for example polyamide fishing nets), but this is really very limited in order to maintain the high-quality plastic.

In the meantime, the image has already been created that cheap virgin polymers from China are killing the recycling industry and that the EU is losing its competitive position in the field of plastics.

China indeed exports cheap materials and end products to Europe, but that distracts from the real issues: where is our innovation in the field of recycling, where is the investment in, for example, chemical recycling in addition to mechanical recycling and then also for technical plastics? Or did we find it easy (and cheaper) to send all the waste to China (or Africa)? Also bear in mind that the manufacturing industry in Europe has not amounted to much until today (although it is improving slightly). Most of the major plastics-producing companies such as BASF, Envalior or LyondellBasell have been present in China for decades, with high expansions in polymer and plastics production even in this year.
And let us also be clear about the recycling of plastics: for years, a maximum of about 10% of all plastics (and this will mainly be polyolefins and polyester) have been recycled; the rest still lies on the mountains of waste, mainly in poor countries, or is burned.

In all this, let us not forget the almost unlimited consumption of the (Western) consumer, who can easily buy the cheapest products anywhere in the world via the unlimited World Wide Web, without thinking about the consequences! And also add some nuance to this, because a significant part of the population cannot afford the more sustainable (and often more expensive) products!

Although I find every bankruptcy of every recycling company very unfortunate and sad and I am a great supporter of any form of reuse or recycling, I am not in favour of the often-heard solution to increase the tax rate on virgin polymer from China; this can only lead to a trade conflict and we already have enough wars and conflicts at the moment.
Be smarter, for example introduce a minimum share of recyclate in every (permitted) product, invest in recycling companies so that they can recycle not only Polyolefins and Polyester, but also Polyamides, Polycarbonate and other technical plastics and invest in innovation and education, so that we, also tomorrow, can continue to develop new technologies to make the world a better place.

And to recyclers I would say: focus on those materials with added value and higher margins, which justify production in the EU, such as technical plastics, find better processing technologies or applications for them (more expensive end products that require these plastics), more creative, move away from the cheap (but easily recyclable) polymers (leave that up to China).
For the BASF's and LyondellBasell's of this world I would like to say: Practise what you Preach! If you want a better future, invest in production in Europe, with European raw materials that are produced close to “home”.
And to the European Union I would like to say: Invest more in chemical recycling and optimisation of mechanical recycling within the EU, because you can use that to make high-quality technical polymers and become less dependent on other regions. And if the aviation industry can produce kerosene from CO2 and hydrogen, why can't the polymer and recycling industry make oil in a similar way? Good for technology, Good for innovation, Good for the net CO2 balance.

Is the recycling industry bankrupt? I don't believe so, but we are in a decisive phase, where are we going? Will it remain a bit of the same old thing, where China, for example, will win with its cheap oil and employees, or do we have a wider perspective, are we innovative, focused on the future with high quality, great technologies, better recycling processes and also higher margins?!