Advanced Recycling Technologies Market Latest Survey Report 2024

Advanced Recycling Technologies Market

Advanced Recycling Technologies Market to reach over USD 8.90 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Advanced Recycling Technologies Market Size, Share & Trends Analysis Report By Technology, (Pyrolysis/ Cracking, Gasification, Depolymerization, Microwave), Product Types (Naphtha, Heavy Gas Oil, Wax Residue), End User (Food and Beverage Packaging, Non-Food Packaging, Consumer Electronics, Infrastructure and Construction, Automotive)- Market Outlook And Industry Analysis 2031"

The global Advanced Recycling Technologies market is estimated to reach over USD 8.90 billion by 2024-2031, exhibiting a CAGR of 47.16% during the forecast period.

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As the economy moves away from fossil fuels and toward sustainability, many consumer packaged goods (CPG) corporations have committed to offering products with less impact on the environment. These pledges cover a significant portion of the plastic products that people use or come into touch with regularly, including meal trays, bottles, caps, and flexible film wraps. Therefore, Circular polymers are in great demand, but capacity announcements have to keep up with the increase in demand. In addition to increasing the variety of recyclable plastics, advanced recycling can produce polymers with specific molecular weight distributions and copolymers appropriate for high-value applications, like flexible food packaging.

Capacity is still limited even though many technologies are continually developing and growing. List of Leading Companies in the Market for Advanced Recycling Technologies: Agilyx, Stana Metall, Honeywell International Inc., Chevron Phillips Chemical Company LLC, and Plastic Energy • Enerkem • Gr3n Recycling; Loop Industries, Inc.

• Duro Clean Technologies Inc.; Alterra; Brightmark; GreenMantra Technologies; Axens; Quantafuel ASA; Carbios SA; Pyrowave; Polystyvert Inc.; Recycling Avenue BV; BlueAlp Innovations BV; The dynamics of the market: Global government rules and growing environmental consciousness have made packaging solution marketing more cause-driven. Recycled packaging solutions help companies meet their environmental goals and differentiate their products in the marketplace.

Amcor, for example, declared that by 2025, every package it designs will be recyclable or reused. The market is further driven by rising urbanization and the demand for off-the-shelf products. The market for solar energy is expected to develop due to the growing reliance on renewable energy sources and the availability of energy storage incentives. This will accelerate the demand for glass in the industry. However, the market expansion is being impeded by the creation and advancement of biodegradable plastics.

Challenges:
Making sure that materials are seen as recyclable and that materials have access to such areas are challenges, she said. "That entire infrastructure and connections of the value chain to ensure that a homeowner is aware of their ability to recycle it, then connecting those parts in the supply chain and ensuring there is enough of that material to scale up to end market needs. Another obstacle the sector is seeking to overcome is redefining advanced recycling as manufacturing as opposed to solid waste management.

Regional Trends:
Modern consumers' expectations and attitudes towards product packaging, as well as the stricter enforcement of laws governing clean production, food safety, and hygienic packaging, have put pressure on large downstream clients to gradually implement cutting-edge, inventive, environmentally friendly packaging solutions in nations like China, India, and other Asian nations.

For instance, China banned the majority of imports of various recyclables focused on garbage generated by its citizens at the end of 2017. The nation served as the largest global market for recovered plastics and other commodities. As a result, in January 2018, China only authorised the entry of 9.3 tonnes of plastic . Comparing this to the 3.8+ million tonnes that were authorised to be imported at the beginning of the year, it is estimated that this represents a more than 99% reduction.

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Recent Developments:
• In May 2019, The future tissue plant in Sherbrooke that KP Tissue Inc. and Kruger Products are building, which will include the most cutting-edge and effective TAD technology in Canada, was dedicated to the construction site. 180 employment in Estrie and 1,700 direct and indirect jobs will be generated by this USD 575 million investment throughout the course of the building phase, which will end in 2021.
Segmentation of Advanced Recycling Technologies Market-
By End User-
• Food and Beverage Packaging
• Non-Food Packaging
• Consumer Electronics
• Infrastructure and Construction
• Automotive
• Others
By Technology-
• Pyrolysis/ Cracking
• Gasification
• Depolymerization
• Microwave
• Others
By Product Type-
• Naphtha
• Heavy Gas Oil
• Wax Residue
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.