Everything is recyclable. But some things aren’t _cheaply_ recyclable, and taxpayers (via sanitation departments) are only willing to pay for the cheap stuff.
The main thing that makes one plastic more expensive to recycle than another is it’s melting point. What exact variety of crude oil was used to make the plastic will determine the melting point, and if the melting point is too high, the electricity for the electric furnaces used to melt and remould it would be too expensive.
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