A recent report published by Infinium Global Research on chemical recycling of plastics market provides in-depth analysis of segments and sub-segments in the global as well as regional chemical recycling of plastics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional chemical recycling of plastics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global chemical recycling of plastics market.
The global chemical recycling of plastics market is experiencing significant growth as industries and governments seek sustainable solutions to address the growing plastic waste crisis. Unlike mechanical recycling, chemical recycling breaks down plastic waste into its basic chemical components, enabling the recovery of high-quality materials that can be reused in manufacturing. This method enables the recycling of contaminated and mixed plastic waste streams, which are typically challenging to process using conventional methods. The growth of the market is primarily driven by the growing environmental concerns, stringent regulations promoting circular economy practices, and increasing investments in recycling infrastructure. Advanced technologies are being rapidly adopted to recycle plastic waste. Packaging, automotive, electrical & electronics, textiles, and construction industries are among the major end-users leveraging chemical recycling to meet sustainability goals.
The global chemical recycling of plastics market is primarily driven by the escalating plastic waste crisis and mounting environmental concerns. According to the United Nations Environment Programme, every year, 19 to 23 million tons of plastic waste enter aquatic ecosystems, contaminating lakes, rivers, and seas. As the volume of plastic waste continues to surge globally, there is increasing urgency to adopt more advanced and sustainable waste management solutions. Chemical recycling offers a viable alternative to conventional methods by breaking down plastic into its original chemical constituents, allowing it to be reused in new, high-quality products. This not only addresses landfill and marine pollution concerns but also contributes to long-term sustainability goals. Additionally, the increasing environmental regulations and circular economy initiatives are stimulating the growth of the market. Governments and regulatory bodies around the world are introducing stricter policies on plastic waste reduction and extended producer responsibility (EPR). These frameworks promote the use of recycled content and incentivize investment in innovative recycling technologies, including chemical recycling.
As a result, industries are increasingly adopting chemical recycling to comply with legal mandates and reduce their carbon footprint, further boosting market growth. However, the high capital investment and operating costs can impede the growth of the market. High capital investment and operating expenses associated with establishing and maintaining chemical recycling facilities act as a significant barrier to widespread adoption. These advanced processes require sophisticated technology, specialized equipment, and stringent safety protocols, all of which contribute to elevated initial and ongoing costs. Compared to mechanical recycling, chemical recycling is less economically attractive in many markets, especially where subsidies or policy incentives are lacking. This financial burden can deter new entrants and slow down expansion, particularly in developing countries or regions with limited waste management infrastructure.
Nonetheless, the expansion in emerging economies offers significant growth opportunities for the market. Countries in Asia-Pacific, Latin America, and Africa are experiencing rapid urbanization, increasing plastic consumption, and evolving environmental policies. These dynamics create fertile ground for the expansion of chemical recycling technologies. The growing investments in infrastructure, waste collection systems, and public-private partnerships in these regions can boost the market growth. Furthermore, the integration of chemical recycling into the broader circular economy framework offers long-term strategic advantages. Chemical recycling enables the recovery of plastic waste that is otherwise non-recyclable, closing the loop in the plastic lifecycle and minimizing resource extraction. As industries and consumers shift toward more sustainable practices, chemical recycling becomes a crucial enabler of circularity, providing both environmental and economic benefits. This alignment with global sustainability goals positions chemical recycling as a key growth area within the evolving landscape of waste management and resource recovery.
The global chemical recycling of plastics market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among the regions, the Asia Pacific region is anticipated to dominate the global market in terms of revenue during the forecasted period. This can be attributed to rapid industrialization, urbanization, and increasing plastic consumption across major economies such as China, India, Japan, South Korea, and others. Governments in the Asia Pacific region are introducing stricter regulations on plastic waste management, promoting recycling infrastructure, and supporting the adoption of advanced recycling technologies. Additionally, the presence of a large manufacturing base and growing awareness about sustainable practices are driving investment in chemical recycling facilities. These factors position Asia Pacific as a leading hub for the development and commercialization of chemical recycling solutions, thereby contributing significantly to global market growth.
Moreover, the North America region is expected to witness a significant growth rate during the forecasted period. This growth is driven by rising environmental awareness, increasing regulatory support, and strong commitments from industry stakeholders toward achieving sustainability targets. The United States and Canada are making substantial investments in advanced recycling technologies, supported by favorable policies and public-private partnerships aimed at reducing plastic waste. In addition, major chemical companies and waste management firms in the region are actively engaging in research and development, pilot projects, and commercial-scale chemical recycling facilities. The region’s well-established infrastructure, combined with a growing demand for high-quality recycled materials in packaging, automotive, and consumer goods sectors, further contributes to the expanding adoption of chemical recycling solutions across North America.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 14.23 Billion |
| Market Size by 2032 | USD 22.45 Billion |
| Growth Rate from 2024 to 2032 | CAGR of 5.60% |
| Largest Market | Asia Pacific |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Type, By Product, and By End-use |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global chemical recycling of plastics market provides a detailed analysis of segments in the market based on Type, Product, and End-use.
· Depolymerization
· Dissolution
· Conversion
· Polyethylene (PE)
· Polyethylene Terephthalate (PET)
· Polypropylene (PP)
· Polyvinyl Chloride (PVC)
· Polystyrene (PS)
· Others
· Packaging
· Automotive
· Building & Construction
· Electrical & Electronics
· Textiles
· Others
· BASF SE
· Agilyx
· Ineos Group Limited
· MAIRE S.p.A.
· JEPLAN, INC.
· Eastman Chemical Company
· SABIC
· LyondellBasell Industries Holdings B.V.
· DeepTech Recycling Ltd
· Chevron Phillips Chemical Company LLC.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the chemical recycling of plastics market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.