Lixil, a maker of toilets sold under brand names including Grohe and American Standard, wants to tackle a different kind of waste: The millions of tons of plastic dumped into landfills or oceans.
The Japanese company has developed a new material that’s made from recycled plastic and wood chips and can be used as a substitute for concrete or wood in anything from sidewalks to furniture. Called Revia, it will be introduced at an event in Tokyo on Tuesday.
The market for recycled plastic is expected to more than double during the current decade, to $56.8 billion by 2029, according to Exactitude Consultancy, and products ranging from sneakers to shopping bags already use it. Still, only 9% of plastic is currently recycled globally, according to the Organisation for Economic Co-operation and Development (OECD).