DUBLIN, April 24, 2023 /PRNewswire/ -- The "Advanced Recycling Technologies Market - A Global and Regional Analysis: Focus on End User, Technology, Product Type, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global advanced recycling technologies market is projected to reach $9,339.7 million by 2031 from $270.5 million in 2022, growing at a CAGR of 48.22% during the forecast period 2022-2031.
The demand for advanced recycling technologies is anticipated to grow owing to the implementation of stringent environmental regulations like the restriction of hazardous substances (RoHS) and policies by organizations such as Environmental Protection Agency (EPA) and registration, evaluation, authorization, and restriction of chemicals (REACH).
Furthermore, mechanical recycling limitations such as weakening fiber, difficulty in recycling mixed plastic waste, and prohibition from being utilized in the food packaging sector are driving the need for advanced recycling technologies.
Market Lifecycle Stage
Advanced recycling, also known as chemical recycling, refers to a group of technologies that transform post-consumer plastic into its original building blocks, feedstock for new plastics, specialty chemicals, waxes, chemical products, and other non-fuel items. In recent years, advanced recycling technologies have gained popularity as a complementary solution to conventional or mechanical recycling.
Two types of mostly recycled plastics, such as polyethylene terephthalate (PET) and high-density polyethylene, are processed mechanically. The other five categories of plastic, such as colored plastic bottles, fast food containers, and plastic eyeglass frames, cannot be processed by such technologies.
Advanced recycling offers a solution for practically all these five types of plastics, while recycled plastic from advanced recycling can also be utilized for food packaging. Therefore, owing to the aforementioned factors, advanced recycling technologies are gaining traction in the market.
However, the key factor limiting the growth of the advanced recycling technologies market is a lack of collection and treatment infrastructure.
Industry Impacts
Incentives for better product and plastics design, such as improved extended producer responsibility, product stewardship, tax benefits, and deposit-refund systems, are expected to open significant sales and financing opportunities. This shift was prominently experienced in regions such as Europe and North America.
Recent Developments in the Global Advanced Recycling Technologies Market
Market Segmentation
How can this report add value to an organization?
Key players in the global advanced recycling technologies market analyzed and profiled in the study involve advanced recycling technologies manufacturers and the overall ecosystem.
Moreover, a detailed competitive benchmarking of the players operating in the global advanced recycling technologies market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
The global advanced recycling technologies market has been segmented by different end users, among which food and beverage packaging captured around 46% of the market as of 2021.
Other end users, including non-food packaging, accounted for around 27%, consumer electronics accounted for 9%, infrastructure and construction accounted for 7%, automotive accounted for 1%, and other end-use industries accounted for 10% of the total share in 2021 in terms of value.
Industry Outlook
Trends: Current and Future
Supply Chain Network
Impact of COVID-19 on the Advanced Recycling Technologies Market
Global Plastic Waste Management Statistics
Comparative Analysis of Key Technologies
Business Dynamics
Business Drivers
Business Challenges
Business Strategies
Corporate Strategies
Start-Up Landscape
Key Companies Profiled
For more information about this report visit https://www.researchandmarkets.com/r/mw16zt
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