This report was commissioned by ChemSec, mainly during 2020, with financial support from Laudes Foundation. Much of the basis for this report and its scope is the result of ChemSec��s work with Circular Economy and our close discussions with different stakeholders, from brands to recyclers and policymakers. A considerable part of the content of this report has been provided with external experts in the field and we want to especially acknowledge the important contributions from Mats Linder, Amanda Cattermole, Belinda Retourn��, Nolwenn Foray and Zhanyun Wang. The financial analysis was performed by Thea Sletten, Rohit Mistry and Innes Armstrong at Economics for the Environment Consultancy Ltd and David Tyrer at the Logika Group of companies. While all these contributions have been invaluable for the creation of the report, ChemSec is solely responsible for its content, its conclusions and opinions.