Chemical Recycling Market Size – By Plastic Type (Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC) and Others), By End-use (Packaging, Textiles, Automotive, Construction and Others), By Technology (Pyrolysis, Gasification, Depolymerization, Solvolysis, Hydrogenation and Others) & Region – Global Forecasts 2024 - 2034
- PUBLISHED ON
- 2024-09-09
- NO OF PAGES
- 235
- CATEGORY
- Chemicals & Materials
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
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 14,945.48 Million |
|
Market
Forecast in 2034 |
USD 32,631.85
Million |
|
CAGR % 2024-2034 |
9.5% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Plastic Type,
By End-use, By Technology and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
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:
|
Market Segments |
|
|
By Plastic
Type |
·
Polyethylene Terephthalate (PET) ·
Polypropylene (PP) ·
Polystyrene (PS) ·
Polyethylene (PE) ·
Polyvinyl Chloride (PVC) ·
Others |
|
By End-use |
·
Packaging ·
Textiles ·
Automotive ·
Construction ·
Others |
|
By Technology |
·
Pyrolysis ·
Gasification ·
Depolymerization ·
Solvolysis ·
Hydrogenation ·
Others |
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
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Frequently Asked Questions
What is the market size of Chemical Recycling Market in 2024?
Chemical Recycling Market was valued at USD 14,945.48 Million in 2024.
What is the growth rate for the Chemical Recycling Market?
Chemical Recycling Market size will increase at approximate CAGR of 9.5% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are BASF SE, Agilyx, Plastic Energy, Loop Industries, Eastman Chemical Company, Brightmark, Carbios, Enerkem, GreenMantra Technologies, SABIC, JEPLAN, Inc. and others.
Which region dominates the Chemical Recycling Market?
North America dominates the market with an active share of 40%.
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