New York, NY, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Microplastic Recycling Market Share, Size, Trends, Industry Analysis Report, By Product (Primary, Secondary), By End-use (Packaging, Agriculture, Consumer Goods, Textile, Automotive & Transportation), By Region, And Segment Forecasts 2023 - 2032” in its research database.
“As per the latest research analysis, the global microplastic recycling market size/share will be valued at roughly USD 227.05 Million in 2022, and its revenue is projected to reach about USD 416.89 Million By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 6.3% between 2023 and 2032.”
What is Microplastic Recycling? How Big Is Microplastic Recycling Market Size & Share?
- Overview
The recycling procedure normally includes segregating plastic waste by type, streamlining, granulating, and pelletizing it. In the course of this process, the plastic is washed to separate adulteration and pollutants. But the inquiry discovered that the malfunction of plastic in recycling provision escalates the assemblage of microplastic particles in washing water, which is then set free into the city water systems and the environment. The rapidly rising demand for the microplastic recycling market can be attributed to the fact that microplastic pollution is an escalating worry due to its probable influence on human health and the environment.
The market is anticipated to encounter development in the predicted period because of government restrictions, environmental consciousness, technological progressions, escalated consumer know-how, and extensive usage of microplastics in several sectors. Makers are constantly pioneering contemporary technologies and procedures to enhance the efficacy and economics of microplastic recycling.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- Calyxia
- Carbios
- ECOFARIO
- Ioniqa
- Matter.
- Ocean Diagnostics
- Oceanworks
- PlanetCare
- Polygonesystems
- Purecycle Technologies
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Microplastic Recycling Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 416.89 Million |
| Market size value in 2023 | USD 240.97 Million |
| Expected CAGR Growth | 6.3% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | ECOFARIO, Ocean Diagnostics, Carbios, Calyxia, Polygonesystems, Purecycle Technologies, Ioniqa, PlanetCare, Oceanworks, Matter, and others. |
| Segments Covered | By Product, By End Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Prominent Growth Driving Factors
- The detrimental impact of plastic waste: Governments globally are executing restrictions to lessen plastic waste pushing the market. These restrictions focus on encouraging viable practices and lessening environmental influence. The microplastic recycling market size is expanding as customers are also growingly conscious of the detrimental impact of plastic waste and diligently seeking viable products and services rendered from recycled substances.
- Reusing microplastics: Recycling microplastics is not only environmentally viable but also showcases economic advantages for businesses. Microplastic recycling market sales are soaring as firms can lead to proceeds and lessen production expenditure by remodeling and reusing microplastics rather than uniquely generating contemporary plastic materials.
- Growing demand in the construction industry: Technological progression in microplastic assemblage, sorting, and filtering procedures additionally push market expansion. Additionally, the growing demand for recycled microplastics in several industries, such as packaging, textile, and construction, generates market opportunities.
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Top Findings of the Report
- The growing demand for recycled microplastics in several industries, such as packaging, textile, and construction, generates market opportunities.
- The market is primarily segmented based on product, end-use, and region.
- Europe region is expected to grow speedily during the forecast period.
Top Trends Influencing the Market
- Rerouting of household waste: Many developed countries, particularly those in Europe, have inflicted a ban on discarding plastic waste in landfill so as to lessen contamination. Some regions in Europe have made comparatively adequate progress in plastic bottle recycling and rerouting the waste from landfill in gone by years from almost all waste streams, especially from household and proper waste.
- Reduction of landfill threats: Governments and several private firms covering the globe are advancing substantial programs to direct plastic waste into the collection stream to prohibit the refuse from dribbling into oceans. These programs encourage plastic bag recycling to diminish landfill threats.
Segmental Analysis
- The secondary segment held a significant market share
Based on the product, the secondary segment held a significant market share. This segment concentrates on recycling used and rejected microplastics such as plastic bottles, packaging, and other plastic waste. Microplastic recycling market demand is on the rise as recovering and recycling microplastics lessens the aggregate of plastic waste that would, if not, end up in landfills, oceans, and other natural environments.
- The packaging segment dominated the market
Based on end use, the packaging segment dominated the market in revenue or expected period. Microplastic recycling market trends include the industry’s growing concentration on viable and eco-friendly packaging alternatives. Government regulations and increasing consumer consciousness have caused the packaging industry to acquire more viable applications.
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| By Product | By End Use |
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Geographical Overview
Europe: This region held the largest microplastic recycling market share due to the strict restrictions executed by the European Union regarding single-use plastics and waste management. The EU has led the way in encouraging viability and circular economy through capabilities such as the EU Circular Economy package. This package intends to transform into a more justifiable and resource-structured economy by encouraging recycling, lessening waste creation, and encouraging the usage of recycled materials.
Recent Developments
In February 2023, The REMEDIES project, funded by the European Union and valued at around USD 8.8 million, set an ambitious goal of collecting over 400 tons of microplastic. This project aims to address the issue of microplastic pollution in various Mediterranean regions by developing advanced systems for recycling, collecting, monitoring, and converting the extracted waste into new products. The primary objective of the REMEDIES project is to establish a sustainable model that effectively mitigates the impact of microplastics.
Browse the Detail Report “Microplastic Recycling Market Share, Size, Trends, Industry Analysis Report, By Product (Primary, Secondary), By End-use (Packaging, Agriculture, Consumer Goods, Textile, Automotive & Transportation), By Region, And Segment Forecasts 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/microplastic-recycling-market
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The Report Answers Questions Such As:
- What are the key segments in the market?
- How much is the market worth?
- At what CAGR is the market predicted to grow during the forecast period?
- Which region is leading in the global market?
- What are the key driving factors in the market?
Polaris Market Research has segmented the microplastic recycling market report based on product, end-use, and region:
By Product Outlook
- Primary
- Secondary
By End Use Outlook
- Packaging
- Agriculture
- Consumer goods
- Textile
- Automotive & Transportation
- Building & Construction
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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