Global Advanced Recycling Technologies Market, By Technology (Pyrolysis/Cracking, Gasification, Depolymerisation, and Microwave), Process Output (Naphtha, Heavy Gas Oil, and Wax Residue), End Use (Packaging, Infrastructure and Construction, Consumer Electronics, and Automotive) - Industry Trends and Forecast to 2031.
Advanced Recycling Technologies Market Analysis and Size
In the packaging industry, advanced recycling technologies (ART) is important for promoting sustainability and circularity. These technologies enable the recycling of complex packaging materials, including multilayered plastics and composite materials, which are traditionally challenging to recycle. ART processes such as pyrolysis and depolymerization break down these materials into high-quality feedstocks suitable for manufacturing new packaging products. Integrating ART into operations allows packaging companies to reduce reliance on virgin plastics, minimize waste generation, and contribute to a more environmentally friendly packaging ecosystem.
Global advanced recycling technologies market size was valued at USD 3,59,460.49 thousand in 2023 and is projected to reach USD 6,17,620.05 thousand by 2031, with a CAGR of 7.00% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Technology (Pyrolysis/Cracking, Gasification, Depolymerisation, and Microwave), Process Output (Naphtha, Heavy Gas Oil, and Wax Residue), End Use (Packaging, Infrastructure and Construction, Consumer Electronics, and Automotive)
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Countries Covered
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Germany, Netherlands, Spain, U.K., Belgium, Italy, Switzerland, Austria, France, Turkey, and Rest of Europe, India, China, South Korea, Japan, Taiwan, Australia and New Zealand, Malaysia, Philippines, Indonesia, Singapore, Thailand, and Rest of Asia-Pacific, U.S., Canada, and Mexico, South Africa, Saudi Arabia, United Arab Emirates, Egypt, Israel, and Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America
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Market Players Covered
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BlueAlp Innovations BV (Netherlands), Pyrowave (Canada), Enerkem (Canada), Recycling Avenue (Netherlands), Gr3n Recycling (Italy), PLASTIC ENERGY (U.K.), Quantafuel ASA (Norway), Loop Industries, Inc. (Canada), Agilyx (U.S.), Honeywell International Inc. (U.S.), Polystyvert (Canada), Olefy Technologies Ltd. (U.K.), Mura Technology Limited (U.K.), Chevron Phillips Chemical Company LLC (U.S.), GARBO SRL (Italy), Brightmark (U.S.), and Synova (Switzerland)
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Market Opportunities
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Market Definition
Advanced recycling technologies encompass innovative processes designed to convert various forms of plastic waste into high-quality materials suitable for reuse. These technologies utilize methods such as pyrolysis, gasification, or depolymerization to break down plastics into their molecular components, which can then be purified and reformed into new products. Unsuch as traditional recycling methods, advanced recycling offers the ability to handle a wider range of plastics, including mixed or contaminated materials, contributing to a more circular economy and reducing reliance on virgin plastics.
Advanced Recycling Technologies Market Dynamics
Drivers
- Increasing Environmental Concerns Raise the Demand for ART Technologies
As heightened awareness of plastic pollution and its environmental impacts fuels demand for sustainable waste management solutions. With increasing pressure to reduce plastic waste and mitigate its effects on ecosystems, governments, industries, and consumers are turning to ART to promote circularity and minimize environmental harm. Companies investing in ART technologies are seen as proactive in addressing sustainability challenges and meeting regulatory requirements, enhancing their reputation and market competitiveness.
For Instance, in response to mounting environmental concerns, major consumer goods companies such as Unilever are ramping up their commitments to recycled plastics. Unilever recently at least 25% recycled plastic in its packaging by 2025, signaling a growing industry shift towards sustainable packaging solutions.
- Growing Technological Advancements Enhances the Efficiency of Recycling Processes
Innovations such as improved sorting techniques, advanced chemical recycling methods, and the development of novel catalysts contribute to higher yields, lower costs, and increased scalability of ART solutions. These advancements make ART more attractive to industries seeking sustainable alternatives to traditional waste management practices, spurring market growth. For instance, a research team developed a novel enzymatic recycling process capable of breaking down polyester plastics into their molecular building blocks, paving the way for more efficient and sustainable plastic recycling solutions.
Opportunities
- Increasing Demand for Recycled Materials due to Changing Consumer Preferences
Demand for recycled materials is propelled by consumer preferences for eco-friendly products, corporate sustainability initiatives, and regulatory measures promoting the use of recycled materials. ART enables the production of high-quality recycled materials from various waste streams, meeting this growing demand and offering sustainable alternatives to virgin materials. For Instance, leading beverage companies such as Coca-Cola and PepsiCo have pledged to increase the use of recycled plastic in their packaging. This commitment underscores the importance of advanced recycling technologies in meeting the demand for recycled materials and advancing sustainability goals within the packaging industry.
- Adoption of Advanced Recycling Technologies Increases due to Growing Regulatory Support
Governments worldwide are implementing policies and regulations to promote recycling, reduce plastic waste, and achieve sustainability goals. These regulations often include mandates, incentives, and subsidies for companies adopting ART solutions, encouraging their uptake and development. For instance, In January 2024, the Europe Union announced new regulations mandating the use of recycled content in plastic packaging. This regulation aims to boost demand for recycled materials and stimulate investment in advanced recycling technologies across the EU member states, further driving the growth of the ART market in the region.
Restraints/Challenges
- High Initial Investment Limits the Adoption of Advanced Recycling Technologies
Setting up ART infrastructure, acquiring specialized equipment, and conducting research and development entail substantial upfront costs. This financial barrier may deter smaller companies or those with limited capital from investing in ART solutions, limiting market penetration. The long payback period associated with ART projects may further discourage investment, as companies seek shorter-term returns on investment.
- Competition from Traditional Recycling Methods hampers the Growth of ART Technologies
Established methods such as mechanical recycling, which involve sorting and processing plastics into new products, often enjoy widespread adoption due to their familiarity, lower upfront costs, and existing infrastructure. While ART offers distinct advantages, such as the ability to handle complex or contaminated plastics and produce high-quality recycled materials, the entrenched position of traditional recycling presents a barrier to entry for ART technologies.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In July 2023, Chevron Phillips Chemical bolstered its collaboartion with Nexus Circular by securing a long-term supply agreement for advanced recycled plastic feedstocks. Nexus Circular, renowned for its advanced recycling technology, transforms landfill-bound plastics into high-quality liquids capable of producing virgin-quality circular plastics. This collaboration empowers Chevron Phillips Chemical to expand its circular polymers program, playing a pivotal role in fostering the transition towards a circular economy for plastics
- In November 2021, Enerkem made a significant advancement by converting carbon from forest biomass into sustainable aviation fuel (SAF) at its Innovation Centre in Westbury, Quebec. The breakthrough, part of The Sky’s the Limit Challenge by Natural Resources Canada, showcases Enerkem's prowess in producing biofuels from waste materials, particularly forest biomass, using its unique thermochemical process. This achievement underscores Enerkem's role as a leader in sustainable fuel production and its commitment to addressing environmental challenges through innovative solutions
Advanced Recycling Technologies Market Scope
The market is segmented on the basis of technology, process output, and end use. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Technology
- Pyrolysis/Cracking
- Gasification
- Depolymerization
- Microwave
Process Output
- Naphtha
- Heavy Gas Oil
- Wax Residue
End Use
- Packaging
- Infrastructure and Construction
- Consumer Electronics
- Automotive
Advanced Recycling Technologies Market Analysis/Insights
The market is segmented on the basis of technology, process output, and end use.
The countries covered in this market report are Germany, Netherlands, Spain, U.K., Belgium, Italy, Switzerland, Austria, France, Turkey, and Rest of Europe, India, China, South Korea, Japan, Taiwan, Australia & New Zealand, Malaysia, Philippines, Indonesia, Singapore, Thailand, and Rest of Asia-Pacific, U.S., Canada, and Mexico, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.
In Europe, Germany is expected to dominate the market, driven by its heightened emphasis on sustainable approaches to plastic waste management. These advanced technologies are pivotal in achieving effective recycling solutions, thus fueling market expansion. The rising adoption of the circular economy model, which prioritizes resource efficiency and waste minimization, has garnered considerable traction. This trend underscores the imperative for innovative approaches to tackle environmental concerns while fostering economic viability.
In Asia-Pacific, India is expected to emerge as a dominant force in the market, driven by increasing awareness of plastic pollution and the imperative to recycle. Governmental regulatory frameworks are playing a pivotal role by enacting stricter regulations, further propelling market growth. This trend reflects a growing societal consciousness towards environmental sustainability, spurring initiatives to combat plastic waste and foster recycling practices. India's proactive stance underscores a broader regional shift towards more stringent environmental policies and sustainable practices in the fight against plastic pollution.
In North America, U.S. is expected to dominate the market due to its significant technological advancements in sustainable plastic waste management. These advancements, notably processes such as pyrolysis or gasification, are instrumental in breaking down plastic waste into smaller, more manageable molecules. Utilizing such technologies, the U.S. aims to tackle the challenges of plastic waste pollution effectively, contributing to a more sustainable and environmentally friendly approach to waste management across the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Advanced Recycling Technologies Market Share Analysis
The market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the market.
Some of the major players operating in the market are:
- BlueAlp Innovations BV (Netherlands)
- Pyrowave (Canada)
- Enerkem (Canada)
- Recycling Avenue (Netherlands)
- Gr3n Recycling (Italy)
- PLASTIC ENERGY (U.K.)
- Quantafuel ASA (Norway)
- Loop Industries, Inc. (Canada)
- Agilyx (U.S.)
- Honeywell International Inc. (U.S.)
- Polystyvert (Canada)
- Olefy Technologies Ltd. (U.K.)
- Mura Technology Limited (U.K.)
- Chevron Phillips Chemical Company LLC (U.S.)
- GARBO SRL (Italy)
- Brightmark (U.S.)
- Synova (Switzerland)
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