Exploration of influencing factors for crisis management in the recycled plastic market

The recycled plastic market is growing rapidly but has a weak structure. In South Korea, the price of recycled plastics tends to follow changes in the import price of plastic waste. If changes in the import price of plastic waste can be observed in advance, it could be helpful for managing crises in the recycled plastic market. This study focused on this aspect and identified the factors influencing the import price of plastic waste through correlation and regression analyses in countries highly relevant to plastic recycling in several countries. The influencing factors were categorized into economic factors, trade factors, and international events. The analysis showed that the factors influencing the import price of plastic waste varied by country. Among the influencing factors, world-level economic factors such as WTI, national-level economic factors, trade factors, and international events appear to be useful in some countries. If significant factors are effectively utilized in each country, it may be possible to manage the price fluctuations of plastic waste and identify potential crises in the recycled plastic market at an early stage, ensuring stable management.