Vinyl records may be music’s most enduring format. The 12-inch vinyl LP is a format that is nearly 80 years old, but its popularity has been steadily rising over the past two decades.
In 2024, 30 million vinyl records were sold in the United States and United Kingdom alone, and the global vinyl market is projected to be worth $1.5 billion by 2030, according to a report from Research and Markets.
“It continues to grow,” said Barry Hurley, the managing director for Packaged Sounds, a vinyl pressing plant just outside London.
“The format itself hasn’t changed too dramatically, except for the addition of lots of different colors and special effects vinyl, which we specialize in,” Hurley told CNBC’s Converge.
Unfortunately, the records loved by music enthusiasts for their rich sound quality are made from non-renewable materials and carry a high carbon footprint.
“PVC is one of the materials that’s used currently in pressing vinyl LPs and 7 inches as well. It’s known in its manufacturing process to be quite toxic,” said Marc Carey, CEO of Evolution Music.
Carey’s company is the developer of Evovinyl, a plant-based material.
“We take waste from sugar cane, process it into a polymer and mix it with organic fillers. It’s not fossil fuel-based and has a much lower carbon footprint,” Carey explained.
His team is now close to creating a 100% organic solution, with the current product being about 98% of the way there.
Barry Hurley’s plant has been testing eco-friendly solutions, including Evovinyl and shrink wrap alternatives. He said these efforts mean Evolution Music uses 15% less energy during the pressing process, when compared to PVC.
“No industry gets out of that, and vinyl pressing shouldn’t expect to either,” Hurley said.
The product has received interest from major labels.
“We did a Coldplay project recently. We did a Camila Cabello project. So, more proof-of-concept projects until we’re 100% confident,” Hurley said.
The next challenge for the business will be scaling up.
Watch the video above for more on Evovinyl and the pressing process.
For information on CNBC’s Converge Live event which takes place in Singapore 12-13 March 2025, click here.