Chemical Recycling of Plastics Market Overview
The Chemical Recycling of Plastics Market size was valued at USD 14.92 Bn. in 2023 and the total Chemical Recycling of Plastics revenue is expected to grow at a CAGR of 9.4% from 2024 to 2030, reaching nearly USD 27.98 Bn. by 2030.
Chemical recycling involves transforming polymer waste by altering its chemical structure to regenerate substances that can be utilised as raw materials for producing plastics or other products. Various chemical recycling technologies include pyrolysis, gasification, hydro-cracking, and depolymerisation. Chemical recycling is revolutionizing the circular economy globally. Growing investment highlights the industry’s commitment to tackling plastic waste and aligns with the Green Deal’s climate and sustainability goals. The planned investment in chemical recycling has significantly increased, rising from USD 2.87 billion in 2025 to USD 8.83 billion by 2030.
Chemical Recycling of Plastics Market Report Scope and Research Methodology
The global efforts to reduce plastic waste have intensified, and companies are adopting advanced recycling technologies to promote sustainability and circularity. These innovations allow for the conversion of plastic waste into valuable raw materials, reducing reliance on fossil resources and minimizing environmental impact. On February 21, 2024, BASF launched its ChemCycling initiative in the U.S., offering Cycle products made from plastic waste at its Port Arthur, TX facility.
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Chemical Recycling of Plastics Market Regional Insights
Europe witnessed the highest market share in 2023 and continued its dominance during the forecast period. The chemical recycling of plastics market in Europe is rapidly gaining traction due to increasing environmental regulations, sustainability goals, and the need to reduce plastic waste. Unlike mechanical recycling, which degrades plastic quality, chemical recycling breaks down plastics at the molecular level, enabling production of high-quality recycled polymers suitable for various applications. This method is attractive for hard-to-recycle plastics like multi-layer packaging and mixed plastics, which are difficult to process mechanically.
Chemical Recycling of Plastics Market Segmentation
Based on Product: the market is divided into PE (Polyethylene), PET (Polyethylene), PP (Polypropylene), PVC (Polyvinyl chloride), PS (Polystyrene), and Others. Polyethylene witnessed the highest market share in 2023 and continued its dominance during the forecast period. Polyethylene (PE) is the most widely produced plastic globally, accounting for approximately 29% of the total plastic market. It is a versatile material used in a range of applications, categorized into three main subtypes: High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), and Linear Low-Density Polyethylene (LLDPE).
Chemical Recycling of Plastics Market Key Players
BASF SE (Ludwigshafen, Germany)
LyondellBasell Industries (Houston, Texas, USA)
Eastman Chemical Company (Kingsport, Tennessee, USA)
Ineos Group (London, United Kingdom)
Dow Inc. (Midland, Michigan, USA)
SABIC (Saudi Basic Industries Corporation) (Riyadh, Saudi Arabia)
Indorama Ventures (Bangkok, Thailand)
Chevron Phillips Chemical Company (The Woodlands, Texas, USA)
Loop Industries (Terrebonne, Quebec, Canada)
Plastic Energy (London, United Kingdom)
Mura Technology (London, United Kingdom)
Carbios (Clermont-Ferrand, France)
Agilyx Corporation (Tigard, Oregon, USA)
For in-depth information on this study, visit the following link:https://www.stellarmr.com/report/chemical-recycling-of-plastics-market/2432
Key questions answered in the Chemical Recycling of Plastics Market are:
- What is Chemical Recycling of Plastics?
- What was the Chemical Recycling of Plastics market size in 2023?
- What is the growth rate of the Chemical Recycling of Plastics Market?
- Which are the factors expected to drive the Chemical Recycling of Plastics market growth?
- What are the different segments of the Chemical Recycling of Plastics Market?
- What growth strategies are the players considering to increase their presence in Chemical Recycling of Plastics?
- What are the upcoming industry applications and trends for the Chemical Recycling of Plastics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Chemical Recycling of Plastics Market?
- What segments are covered in the Chemical Recycling of Plastics Market?
- Who are the leading companies and what are their portfolios in Chemical Recycling of Plastics Market?
- What segments are covered in the Chemical Recycling of Plastics Market?
- Who are the key players in the Chemical Recycling of Plastics market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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