Plastics are synthetic or semi-synthetic meltable substances that can be modeled in solid objects. In the modern world, it seems impossible today to live without plastic or synthetic polymers, which production and usage only go back to 1950. While plastics play a central role in modern society, the production of safer and cleaner products for potential use is required for decreasing the negative environmental effects. The purpose of this article is to analyze the plastic industry, the role of plastics in our social life, the situation in the plastics market, plastic recycling, and masterbatch compound production. For the purpose of this article, the main markets which have been analyzed are; Europe, Asia, and North America. There is a specific part focusing on Turkey who ranks 6th in terms of plastics processing capacity in Europe and has a huge plastic waste mismanagement problem. Finally, there is an analysis of the financial and operational side of global plastics trading, contract terms, and payment methods, which are being used today by the companies who are operating in the petrochemical industry and commodity trade financing generally.
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] LL.M., University of Fribourg, Fribourg Switzerland
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