Market Overview

The Chemical Recycling market is predicted to develop at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2034, when it is projected to reach USD 32,631.85 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 14,945.48 Million in 2024.

SOURCE: We Market Research

The global chemical recycling market refers to the sector focused on the process of converting plastic waste into raw materials through chemical processes, enabling the creation of new plastics, fuels, or chemicals. Unlike mechanical recycling, chemical recycling breaks down the molecular structure of plastics, allowing the recovery of valuable feedstocks and reducing reliance on virgin fossil resources.

The Global Chemical Recycling Market is experiencing significant growth due to increasing concerns about plastic waste management and sustainability. Chemical recycling offers a more advanced approach compared to mechanical recycling, as it breaks down plastic waste into its chemical components, enabling the recovery of high-quality raw materials. This process is seen as a solution to address the limitations of traditional recycling methods, especially for mixed or contaminated plastics.

Market Scope

 Chemical Recycling Industry: Dynamics & Restrains:

 Market opportunity:

We Market Research: Chemical Recycling Dashboard

Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.

Chemical Recycling Segmentation

Market- By Plastic Type Analysis

By Plastic Type, the Chemical Recycling market is categories into Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC) and Others. PET segments dominate the market with the largest share, accounting for over 32% of the market in 2023. PET is one of the most commonly recycled plastics, especially in packaging, bottles, and textiles. In the chemical recycling market, PET holds a significant share due to its widespread use and recyclability.

The following segments are part of an in-depth analysis of the global Chemical Recycling market:

Chemical Recycling Industry: Regional Analysis

North America Market Forecast

North America dominates the global Chemical Recycling market, accounting for around 40% of the market share in 2023. North America is a leading region in the global Chemical Recycling market. The U.S. and Canada are leading in chemical recycling innovations and implementation due to strong regulatory frameworks, substantial investments in recycling technologies, and increased awareness about plastic waste. Supportive government policies, investment in advanced recycling technologies, high awareness and demand for sustainable practices.

Europe Market Statistics

The European Union has stringent regulations on plastic waste management and recycling, driving investments in chemical recycling technologies. Strong regulatory environment, ambitious recycling targets (e.g., EU Circular Economy Action Plan), significant funding for innovation in recycling technologies.

Asia Pacific Market Forecasts

The Asia-Pacific region is expected to witness the fastest growth in the Chemical Recycling market, driven by rapid industrial growth, increasing plastic waste generation, government initiatives to improve waste management, and significant investments in recycling technology. Countries like China, Japan, and South Korea are leading in chemical recycling due to rapid industrialization, growing plastic waste issues, and increasing investment in recycling infrastructure.

Middle East & Africa Market Statistics

The Middle East & Africa (MEA) region represents a smaller share of the global Chemical Recycling market. However, the focus on chemical recycling is growing, but the market is still emerging compared to other regions. Increasing plastic consumption, rising awareness about waste management, and gradual improvements in waste management infrastructure.

Key Market Players

The Chemical Recycling Market is dominated by a few large companies, such as

·         BASF SE

·         Agilyx

·         Plastic Energy

·         Loop Industries

·         Eastman Chemical Company

·         Brightmark

·         Carbios

·         Enerkem

·         GreenMantra Technologies

·         SABIC

·         JEPLAN, Inc.

·         Recenso GmbH

·         Quantafuel

·         LyondellBasell Industries N.V.

·         ExxonMobil Chemical Company

·         Other                                                                                               

1.      Global Chemical Recycling Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Chemical Recycling Market Scope and Market Estimation

1.2.1. Global Chemical Recycling Overall Market Size (US$ Bn) and Volume (Tons), Market CAGR (%), Market forecast (2024 - 2034)

1.2.2. Global Chemical Recycling Market Revenue Share (%) and Volume Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034

1.3.    Market Segmentation

1.3.1. Technology of Global Chemical Recycling Market

1.3.2. Plastic Type of Global Chemical Recycling Market

1.3.3. End-use of Global Chemical Recycling Market

1.3.4. Region of Global Chemical Recycling Market

2.      Executive Summary

2.1.    Demand Side Trends

2.2.    Key Market Trends

2.3.    Market Demand (US$ Bn) Analysis 2019 – 2023 and Forecast, 2024 – 2034

2.4.    Demand and Opportunity Assessment

2.5.    Market Dynamics

2.5.1. Drivers

2.5.2. Limitations

2.5.3. Opportunities

2.5.4. Impact Analysis of Drivers and Restraints

2.6.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.7.    Cost Tear Down Analysis

2.8.    Key Developments

2.9.    Porter’s Five Forces Analysis

2.9.1. Bargaining Power of Suppliers

2.9.2. Bargaining Power of Buyers

2.9.3. Threat of Substitutes

2.9.4. Threat of New Entrants

2.9.5. Competitive Rivalry

2.10.  PEST Analysis

2.10.1.   Political Factors

2.10.2.   Economic Factors

2.10.3.   Social Factors

2.10.4.   Technology Factors

2.11.  Value Chain / Ecosystem Analysis

2.12.  Key Regulation

2.13.  Production Process Overview

3.      Global Chemical Recycling Market Estimates & Historical Trend Analysis (2019 - 2023)

4.      Global Chemical Recycling Market Estimates & Forecast Trend Analysis, by Technology

4.1.    Global Chemical Recycling Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Technology, 2019 - 2034

4.1.1. Pyrolysis

4.1.2. Gasification

4.1.3. Depolymerization

4.1.4. Solvolysis

4.1.5. Hydrogenation

4.1.6. Others

5.      Global Chemical Recycling Market Estimates & Forecast Trend Analysis, by Plastic Type

5.1.    Global Chemical Recycling Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Plastic Type, 2019 - 2034

5.1.1. Polyethylene Terephthalate (PET)

5.1.2. Polypropylene (PP)

5.1.3. Polystyrene (PS)

5.1.4. Polyethylene (PE)

5.1.5. Polyvinyl Chloride (PVC)

5.1.6. Others

6.      Global Chemical Recycling Market Estimates & Forecast Trend Analysis, by End-use

6.1.    Global Chemical Recycling Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by End-use, 2019 - 2034

6.1.1. Packaging

6.1.2. Textiles

6.1.3. Automotive

6.1.4. Construction

6.1.5. Others

7.      Global Chemical Recycling Market Estimates & Forecast Trend Analysis, by Region

7.1.    Global Chemical Recycling Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Region, 2019 - 2034

7.1.1. North America

7.1.2. Western Europe

7.1.3. Eastern Europe

7.1.4. Asia Pacific

7.1.5. Middle East & Africa

7.1.6. Latin America

8.      North America Chemical Recycling Market: Estimates & Forecast Trend Analysis

8.1.    North America Chemical Recycling Market Assessments & Key Findings

8.1.1. North America Chemical Recycling Market Introduction

8.1.2. North America Chemical Recycling Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

8.1.2.1.   By Technology

8.1.2.2.   By Plastic Type

8.1.2.3.   By End-use

8.1.2.4.   By Country

8.1.2.4.1.     The U.S.

8.1.2.4.2.     Canada

8.1.2.4.3.     Mexico

9.      Western Europe Chemical Recycling Market: Estimates & Forecast Trend Analysis

9.1.    Western Europe Chemical Recycling Market Assessments & Key Findings

9.1.1. Western Europe Chemical Recycling Market Introduction

9.1.2. Western Europe Chemical Recycling Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

9.1.2.1.   By Technology

9.1.2.2.   By Plastic Type

9.1.2.3.   By End-use

9.1.2.4.        By Country

9.1.2.4.1.      Germany

9.1.2.4.2.      Italy

9.1.2.4.3.      U.K.

9.1.2.4.4.      France

9.1.2.4.5.      Spain

9.1.2.4.6.      Benelux

9.1.2.4.7.      Nordics

9.1.2.4.8.     Rest of W. Europe

10.  Eastern Europe Chemical Recycling Market: Estimates & Forecast Trend Analysis

10.1.  Eastern Europe Chemical Recycling Market Assessments & Key Findings

10.1.1.   Eastern Europe Chemical Recycling Market Introduction

10.1.2.   Eastern Europe Chemical Recycling Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

10.1.2.1.    By Technology

10.1.2.2.    By Plastic Type

10.1.2.3.    By End-use

10.1.2.4.    By Country

10.1.2.4.1.  Russia

10.1.2.4.2.  Hungary

10.1.2.4.3.  Poland

10.1.2.4.4.  Balkan & Baltics

10.1.2.4.5. Rest of E. Europe

11.  Asia Pacific Chemical Recycling Market: Estimates & Forecast Trend Analysis

11.1.  Asia Pacific Market Assessments & Key Findings

11.1.1.   Asia Pacific Chemical Recycling Market Introduction

11.1.2.   Asia Pacific Chemical Recycling Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

11.1.2.1.    By Technology

11.1.2.2.    By Plastic Type

11.1.2.3.    By End-use

11.1.2.4.    By Country

11.1.2.4.1. China

11.1.2.4.2. Japan

11.1.2.4.3. India

11.1.2.4.4. Australia & New Zealand

11.1.2.4.5. South Korea

11.1.2.4.6. ASEAN

11.1.2.4.7. Rest of Asia Pacific

12.  Middle East & Africa Chemical Recycling Market: Estimates & Forecast Trend Analysis

12.1.  Middle East & Africa Market Assessments & Key Findings

12.1.1.   Middle East & Africa Chemical Recycling Market Introduction

12.1.2.   Middle East & Africa Chemical Recycling Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

12.1.2.1.    By Technology

12.1.2.2.    By Plastic Type

12.1.2.3.    By End-use

12.1.2.4.    By Country

12.1.2.4.1. UAE

12.1.2.4.2. Saudi Arabia

12.1.2.4.3. Turkey

12.1.2.4.4. South Africa

12.1.2.4.5. Rest of MEA

13.  Latin America Chemical Recycling Market: Estimates & Forecast Trend Analysis

13.1.  Latin America Market Assessments & Key Findings

13.1.1.   Latin America Chemical Recycling Market Introduction

13.1.2.   Latin America Chemical Recycling Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

13.1.2.1.    By Technology

13.1.2.2.    By Plastic Type

13.1.2.3.    By End-use

13.1.2.4.    By Country

13.1.2.4.1. Brazil

13.1.2.4.2. Argentina

13.1.2.4.3. Colombia

13.1.2.4.4. Rest of LATAM

14.  Country Wise Market: Introduction

15.  Competition Landscape

15.1.  Global Chemical Recycling Market Product Mapping

15.2.  Global Chemical Recycling Market Concentration Analysis, by Leading Players / Innovators / Emerging Players / New Entrants

15.3.  Global Chemical Recycling Market Tier Structure Analysis

15.4.  Global Chemical Recycling Market Concentration & Company Market Shares (%) Analysis, 2023

16.  Company Profiles

16.1.      BASF SE

16.1.1.   Company Overview & Key Stats

16.1.2.   Financial Performance & KPIs

16.1.3.   Product Portfolio

16.1.4.   SWOT Analysis

16.1.5.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

16.2.      Agilyx

16.3.      Plastic Energy

16.4.      Loop Industries

16.5.      Eastman Chemical Company

16.6.      Brightmark

16.7.      Carbios

16.8.      Enerkem

16.9.      GreenMantra Technologies

16.10.  SABIC

16.11.  JEPLAN, Inc.

16.12.  Recenso GmbH

16.13.  Quantafuel

16.14.  LyondellBasell Industries N.V.

16.15.  ExxonMobil Chemical Company

16.16.  Others

17.  Research Methodology

17.1.  External Transportations / Databases

17.2.  Internal Proprietary Database

17.3.  Primary Research

17.4.  Secondary Research

17.5.  Assumptions

17.6.  Limitations

17.7.  Report FAQs

18.  Research Findings & Conclusion