Press release
The Global Circular Polymers Market Is Projected To Reach US$ 163.9 Billion By 2032
Carbon fibre consumption in the aerospace and defence industries is expected to grow rapidly at a CAGR of 10.3%. Government organisations are investing heavily in the aerospace and defence industries, which is fueling global demand for carbon fibre.
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Competitive Landscape
TotalEnergies, Advanced Circular Polymers, Quality Circular Polymers, SABIC, Borealis, Plastic Energy, Jindal Films, Enerken, Lehigh Technologies, ExxonMobil, Chevron Phillips Chemical, LyondellBasell, and Suez are key suppliers of circular polymers.
Quality Circular Polymers LLC is planning to increase its plastic material recycling production capacity by approximately 55,000 tons/yr. The company has a tie-up with Samsonite for the production of the first circular PP suitcase from Moplen QCP.
SABIC has recently acquired a 50% stake in Clariant, a company that specializes in scientific designs. Considering the current global scenario for plastic pollution, the company presented 'RE Globalize' for sustainable development at the 2022 Annual Conference of the Boao Forum for Asia (BFA).
Plastic Energy and TotalEnergies have announced a new partnership to boost advanced plastic recycling development. Plastic energy's TACOIL, a patented product, will be utilized by TotalEnergies and will transform this raw material into virgin-quality polymers suitable for food packaging.
Fact.MR has provided detailed information about the overall strategies adopted by circular polymer manufacturers, along with their detailed overviews, including SWOT analysis and revenue generated from targeted circular polymers manufacturers positioned across geographies, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.
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Segmentation of Circular Polymers Industry Research
Circular Polymers Market by Material :
PET
PP
PE
Nylon 6
Nylon 6,6
Other
Circular Polymers Market by Form :
Circular Polymer Flakes
Circular Polymer Pellets
Others
Circular Polymers Market by End Use :
Packaging
Construction
Automotive
Electrical and Electronics
Agriculture
Consumer Products (Household)
Petrochemicals
Other
Circular Polymers Market by Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
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Why is Europe a world leader in the production of circular polymers?
The overall European recycling rate for plastic packaging increased by 9.5% between 2020 and 2021, settling at 46%. The Netherlands, Germany, Spain, Belgium, and the Czech Republic already have recycling rates of more than 50% for post-consumer plastics packaging trash.
According to the European Commission's Packaging and Packaging Waste Directive, plastic packaging waste must be recycled 50% by 2025 and 55% by 2030. (PPWD).
The new point of calculation for plastic package recycling in this directive (items entering palletization, extrusion, and moulding operations) will significantly reduce current recycling rates.
Over the period 2006-2021, the compound annual growth rate (CAGR) was approximately 5.6%. According to projections, the rate of packaging recycling must increase by more than 10% per year.
The report clarifies several important questions about the Circular Polymers Market:
1. Which regional market is expected to grow the most during the forecast period?
2. How has the rise in raw material prices caused by the COVID-19 pandemic affected the growth of the Circular Polymers Market?
3. Why are market participants concentrating on R&D and innovation?
4. Are market participants increasing their global presence? If so, how so?
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