MarkNtel Advisors recently published a detailed industry analysis of the Global Chemical Recycling Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Chemical Recycling Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Chemical Recycling Market size is valued at around USD 15.5 billion in 2024 & is estimated to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30.
Key Findings in Global Chemical Recycling Market:
- Historical Analysis: 2019–2022
- Base Year: 2023
- Forecast Period: 2024–2030
Leading Market Players- Agilyx, BASF SE, Eastman Chemical Company, JEPLAN, Inc., Recycling Technologies, Veolia Environment S.A., Loop Industries, Inc., Plastic Energy, Carbios, GFL Environmental Inc., Clean Harbours, Inc., Brightmark, and others.
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Chemical Recycling industry?
Government Strict Regulations Driving Market Growth – The wider adoption of chemical recycling needs a necessary push from the stringent government regulations to meet the emission targets and mitigate the increasing plastic waste otherwise it will continue to get either dumped in landfills or incinerated, leading to massive pollution and CO2 emission. For instance,
- In April 2024, the Geneva Environment Network a coordinated network of the United Nations Environment Programme highlighted that out of the total plastic waste produced in the world only about 9% gets recycled. The majority of the plastic waste about 50% ends up in landfills, 22% gets dumped into uncontrolled sites, and the remaining gets incinerated.
So, as the world is looking to tackle the phenomenon such as climate and global warming a policy shift towards sustainability and environmentally friendly approaches can create a scenario, presenting a massive growth opportunity for the Global Chemical Recycling Market over the forecasted period. At the 16th COP conference held in May 2023, the attending parties to the Basel Convention accepted the guidelines for proper plastic waste management. Such developments are anticipated to augment the size & volume of the chemical recycling industry in the coming years.
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What segments define the Global Chemical Recycling Market from 2024 to 20230? How do these segments contribute to market dynamics and growth?
By Technology
- Pyrolysis- Market Size & Forecast 2019-2030, Kilo Tons
- Non-catalytic- Market Size & Forecast 2019-2030, Kilo Tons
- Catalytic- Market Size & Forecast 2019-2030, Kilo Tons
- Gasification- Market Size & Forecast 2019-2030, Kilo Tons
- Hydrothermal Treatment- Market Size & Forecast 2019-2030, Kilo Tons
- Purification- Market Size & Forecast 2019-2030, Kilo Tons
- Depolymerization- Market Size & Forecast 2019-2030, Kilo Tons
- Hydrolysis- Market Size & Forecast 2019-2030, Kilo Tons
- Enzymolysis- Market Size & Forecast 2019-2030, Kilo Tons
- Methanolysis- Market Size & Forecast 2019-2030, Kilo Tons
- Glycolysis- Market Size & Forecast 2019-2030, Kilo Tons
- Aminolysis- Market Size & Forecast 2019-2030, Kilo Tons
By Product
- Polyethylene (PE) – Market Size & Forecast 2019-2030, Kilo Tons
- Polyethylene Terephthalate (PET) – Market Size & Forecast 2019-2030, Kilo Tons
- Polypropylene (PP) – Market Size & Forecast 2019-2030, Kilo Tons
- Polyvinyl Chloride (PVC) – Market Size & Forecast 2019-2030, Kilo Tons
- Polystyrene (PS) – Market Size & Forecast 2019-2030, Kilo Tons
- Polycarbonate- Market Size & Forecast 2019-2030, Kilo Tons
- Others- Market Size & Forecast 2019-2030, Kilo Tons
According to report, The polyethylene (PE) segment holds the largest market share primarily due to its extensive application across various industries in the world.
By End User
- Packaging- Market Size & Forecast 2019-2030, Kilo Tons
- Automotive- Market Size & Forecast 2019-2030, Kilo Tons
- Building & Construction- Market Size & Forecast 2019-2030, Kilo Tons
- Electronics- Market Size & Forecast 2019-2030, Kilo Tons
- Others- Market Size & Forecast 2019-2030, Kilo Tons
According to report, When considering segmentation based on end-users packaging industry dominates the market for the extensive use of plastic in the packaging industry, and this scenario will most likely continue to play out in the market over the forecasted period.
Explore the Complete Global Chemical Recycling Market Analysis Report – https://www.marknteladvisors.com/research-library/chemical-recycling-market.html
Geographical Analysis: Global Chemical Recycling Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Global Chemical Recycling Industry Recent Development:
- February 2024: BASF launches chemical recycling at Port Arthur, Texas in the United States of America. This is the first time the company to brought its products from recycled plastic feedstock into the US market.
- March 2024: Eastman Chemical Company will receive an investment of up to USD 375 million for the second recycling project from the US Department of Energy.
- October 2023: Plastic Energy comes under an agreement with PETRONAS Chemical Group Berhad (PCG) to provide chemical recycling technology to it. PCG is planning to construct Asia’s largest Advanced Chemical Recycling plant.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Global Chemical Recycling Market?
- How is the Global Chemical Recycling Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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