Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Chemical Recycling Of Plastics Market Size, Share & Trends Analysis Report by Product (PE, PET, PVC, PP, PS), Type (Dissolution, Conversion), End-use (Packaging, Automotive), Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
This research highlights the surge in chemical recycling of plastics, driven by environmental concerns and progressive industrial demands. The global market is anticipated to reach USD 18.39 billion by 2030, showcasing remarkable growth with a CAGR of 5.08% during the forecast period from 2024 to 2030. Intriguing developments in the chemical recycling of plastics industry have been captured in a comprehensive analysis, exploring the trends and figures that are central to understanding this expanding market. These insights evaluate growth across multiple dimensions such as product type, end-use industries, and pivotal regions influencing market dynamics.
Key Findings Uncovered in the Analysis
- Rise of Asia-Pacific Market: Within the regional assessment, Asia-Pacific has emerged as the frontrunner, steered by the adoption of eco-friendly construction activities in nations like China and India.
- Polyethylene (PE) Leads Product Segment: Dominating the product landscape, Polyethylene's diverse application has cemented its status, driven by its outstanding qualities including solvent resistance and high tensile strength.
- Packaging as a Prime End-user: The role of packaging in utilizing chemically recycled plastics cannot be overstated, with over a 34% share in revenues for the segment, underlining the robust utilities of polypropylene, polyethylene, polyethylene terephthalate, and polystyrene.
With the increasing accumulation of plastic waste and critical global initiatives toward sustainability, key market players are innovating and expanding their product lines to incorporate chemically recycled plastics. This move resonates with the global effort to minimize the ecological impact of plastic debris.
Strategic Developments Shaping the Industry
The industry has witnessed groundbreaking advancements, such as the collaboration between IFPEN, Axens, and JEPLAN to launch the Rewind® PET industrial unit in Japan. This facility stands as a testament to the commitment towards efficient PET chemical recycling technology, and it sets a benchmark for industrial consumer adoption worldwide.
In conclusion, this analytical report serves to empower stakeholders, providing a strategic knowledge base for steering business decisions and policies in the realm of chemical recycling of plastics. This deep dive into market dynamics, drivers, and future opportunities ensures a critical understanding of the trends shaping this pivotal industry, guiding investments and fostering innovation in the quest for sustainability. For up-to-date insights and detailed market analysis, interested parties are encouraged to review the full report, which dissects the potential and trajectory of the chemical recycling of plastics market from 2024 to 2030.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $13.15 Billion |
| Forecasted Market Value (USD) by 2030 | $18.39 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Companies Mentioned
- Agilyx
- BASF SE
- MaireTecnimont S.p.A.
- INEOS AG
- Recycling Technologies
- Veolia Environnement S.A.
- JEPLAN, INC Company
- Eastman Chemical Company
- SABIC
- LyondellBasell Industries Holdings B.V.
For more information about this report visit https://www.researchandmarkets.com/r/c6nw1u
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