Global Plastic Chemical Recycling Market Size is valued at 10.1 Bn in 2023 and is predicted to reach 66.0 Bn by the year 2031 at an 27.4% CAGR during the forecast period for 2024-2031.
Plastic chemical recycling refers to a range of technologies that decompose plastic waste into its fundamental chemical components through methods such as pyrolysis, gasification, and depolymerization. These processes transform hard-to-recycle plastics into usable raw materials by altering their molecular structure, allowing for a broader array of plastic types to be recycled compared to conventional methods.
The applications of chemically recycled plastics are extensive, spanning various industries. Recovered materials are used in high-quality food and beverage packaging, ensuring safety and sustainability; in the automotive industry for manufacturing parts that contribute to lighter and more sustainable vehicle designs; in the fashion industry for creating clothing and accessories that promote circularity; and in the construction industry for building materials that enhance sustainability.
One of the primary driving factors behind the growth of the plastic chemical recycling market is the rising public concern over the environmental impacts associated with plastic waste. As awareness of plastic pollution increases, consumers and governments are demanding more sustainable waste management solutions. This shift is prompting companies to invest in advanced recycling technologies to meet sustainability goals and comply with stricter environmental regulations. For instance, Agilyx ASA, a technology company enabling the recycling of challenging post-use plastics into high-value, virgin-equivalent products, exemplifies this trend. The company recently demonstrated its depolymerization technology at Toyo Styrene's 10-ton-per-day chemical recycling facility in Japan, showcasing the practical implementation of advanced recycling solutions in response to growing environmental concerns and regulatory pressures.
The plastic chemical recycling market is segmented by type. By type the market is segmented into pyrolysis, gasification, dissolution, depolymerization.
The depolymerization segment is driving the growth of the plastic chemical recycling market due to its ability to process a wider range of plastic waste, including mixed and contaminated plastics that conventional methods struggle with. By breaking down plastics into monomers or oligomers, depolymerization enables the recovery of high-quality feedstocks that can be repolymerized into new, virgin-equivalent plastics. This meets the rising demand for recycled plastics across industries such as packaging, automotive, and consumer goods. Depolymerization also supports the circular economy by converting plastic waste back into monomers, reducing reliance on virgin resources, and aligning with sustainability goals. Technological advancements are further enhancing the efficiency and cost-effectiveness of depolymerization, making it a key driver of the plastic chemical recycling market.
Growing environmental concerns, proactive government initiatives, a diverse economic landscape, and technological innovations are driving the growth of plastic chemical recycling in Asia-Pacific. As the region faces significant plastic pollution, both consumers and governments are pushing for sustainable waste management. Many countries have implemented regulations like Extended Producer Responsibility (EPR) to promote recycling, fostering investment and innovation in recycling technologies. The diverse economic landscape allows for tailored approaches, with advanced economies like Japan having comprehensive recycling laws and developing economies like India rapidly building infrastructure. Significant investment in advanced recycling technologies, particularly in China and India, is enhancing recycling rates and efficiency, making chemical recycling a more viable option for managing plastic waste.
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Report Attribute |
Specifications |
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Market Size Value In 2022 |
USD 10.1 Bn |
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Revenue Forecast In 2031 |
USD 66.0 Bn |
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Growth Rate CAGR |
CAGR of 27.4 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Recuro, Agilyx, Plastic Energy, Quantafuel, Nexus Circular, Alterra Energy, New Hope Energy, Brightmark, Freepoint Eco-Systems, Encina, BlueAlp, OMV, Recycling Technologies, Greenback Recycling Technologies, ReOil Hungaria, Resynergi, Klean Industries, BioBTX, Plastic2Oil / JBI, ReNewlogy, Integrated Green Energy (IGE), Quantafuel Skive, Argelec, Orlen Unipetrol, Qenersys / QuantaFuel |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Plastic Chemical Recycling Market Snapshot
Chapter 4. Global Plastic Chemical Recycling Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2025-2034
4.8. Global Plastic Chemical Recycling Market Penetration & Growth Prospect Mapping (US$ Mn), 2024-2034
4.9. Competitive Landscape & Market Share Analysis, By Key Player (2024)
4.10. Use/impact of AI on Plastic Chemical Recycling Market Industry Trends
Chapter 5. Plastic Chemical Recycling Market Segmentation 1: By Polymer Type, Estimates & Trend Analysis
5.1. Market Share by Polymer Type, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Polymer Type:
5.2.1. Polyethylene (PE)
5.2.1.1. High-Density Polyethylene (HDPE)
5.2.1.2. Low-Density Polyethylene (LDPE)
5.2.2. Polypropylene (PP)
5.2.3. Polystyrene (PS)
5.2.4. Polyethylene Terephthalate (PET)
5.2.5. Polyvinyl Chloride (PVC)
5.2.6. Mixed / Multilayer Plastics
5.2.7. Engineering Plastics
Chapter 6. Plastic Chemical Recycling Market Segmentation 2: By Technology, Estimates & Trend Analysis
6.1. Market Share by Technology, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Technology:
6.2.1. Pyrolysis-Based Recycling
6.2.1.1. Conventional Thermal Pyrolysis
6.2.1.2. Induction-Heated Pyrolysis
6.2.1.3. Catalytic Pyrolysis
6.2.2. Gasification
6.2.3. Dissolution / Solvent-Based Recycling
6.2.4. Depolymerization / Monomer Recovery
6.2.4.1. PET Depolymerization
6.2.4.2. Polyamide / Polyurethane Depolymerization
6.2.5. Hydrothermal / Supercritical Fluid Recycling
6.2.6. Plasma or Microwave-Assisted Chemical Recycling
6.2.7. Hybrid / Integrated
Chapter 7. Plastic Chemical Recycling Market Segmentation 3: By Feedstock Source , Estimates & Trend Analysis
7.1. Market Share by Feedstock Source , 2024 & 2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Feedstock Source :
7.2.1. Post-Consumer Plastic Waste
7.2.2. Post-Industrial Plastic Waste
7.2.3. Municipal Solid Waste Plastics
7.2.4. Agricultural & Packaging Films
7.2.5. Mixed / Composite Plastic Waste
Chapter 8. Plastic Chemical Recycling Market Segmentation 4: By Output Product Type, Estimates & Trend Analysis
8.1. Market Share by Output Product Type, 2024 & 2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Output Product Type:
8.2.1. Monomers / Recovered Raw Chemicals
8.2.2. Synthetic Oils
8.2.3. Wax / Lubricants / Specialty Chemicals
8.2.4. Syngas / Hydrogen
8.2.5. Recycled Polymer Feedstock
Chapter 9. Plastic Chemical Recycling Market Segmentation 5: By Application / End-Use Industry, Estimates & Trend Analysis
9.1. Market Share by Application / End-Use Industry, 2024 & 2034
9.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Application / End-Use Industry:
9.2.1. Packaging (Food & Non-Food)
9.2.2. Automotive & Transportation
9.2.3. Construction Materials
9.2.4. Electrical & Electronics
9.2.5. Textiles & Fibers
9.2.6. Consumer Goods & Household Products
9.2.7. Others (Lubricants, Adhesives, Industrial Chemicals)
Chapter 10. Plastic Chemical Recycling Market Segmentation 6: Regional Estimates & Trend Analysis
10.1. Global Plastic Chemical Recycling Market, Regional Snapshot 2024 & 2034
10.2. North America
10.2.1. North America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.2.1.1. US
10.2.1.2. Canada
10.2.2. North America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Polymer Type, 2021-2034
10.2.3. North America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.2.4. North America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Feedstock Source , 2021-2034
10.2.5. North America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Output Product Type, 2021-2034
10.2.6. North America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Application / End-Use Industry, 2021-2034
10.3. Europe
10.3.1. Europe Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.3.1.1. Germany
10.3.1.2. U.K.
10.3.1.3. France
10.3.1.4. Italy
10.3.1.5. Spain
10.3.1.6. Rest of Europe
10.3.2. Europe Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Polymer Type, 2021-2034
10.3.3. Europe Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.3.4. Europe Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Feedstock Source , 2021-2034
10.3.5. Europe Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Output Product Type, 2021-2034
10.3.6. Europe Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Application / End-Use Industry, 2021-2034
10.4. Asia Pacific
10.4.1. Asia Pacific Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.4.1.1. India
10.4.1.2. China
10.4.1.3. Japan
10.4.1.4. Australia
10.4.1.5. South Korea
10.4.1.6. Hong Kong
10.4.1.7. Southeast Asia
10.4.1.8. Rest of Asia Pacific
10.4.2. Asia Pacific Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Polymer Type, 2021-2034
10.4.3. Asia Pacific Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.4.4. Asia Pacific Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Feedstock Source , 2021-2034
10.4.5. Asia Pacific Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts By Output Product Type, 2021-2034
10.4.6. Asia Pacific Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Application / End-Use Industry, 2021-2034
10.5. Latin America
10.5.1. Latin America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Country, 2021-2034
10.5.1.1. Brazil
10.5.1.2. Mexico
10.5.1.3. Rest of Latin America
10.5.2. Latin America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Polymer Type, 2021-2034
10.5.3. Latin America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.5.4. Latin America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Feedstock Source , 2021-2034
10.5.5. Latin America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Output Product Type, 2021-2034
10.5.6. Latin America Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Application / End-Use Industry, 2021-2034
10.6. Middle East & Africa
10.6.1. Middle East & Africa Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
10.6.1.1. GCC Countries
10.6.1.2. Israel
10.6.1.3. South Africa
10.6.1.4. Rest of Middle East and Africa
10.6.2. Middle East & Africa Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Polymer Type, 2021-2034
10.6.3. Middle East & Africa Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2021-2034
10.6.4. Middle East & Africa Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Feedstock Source , 2021-2034
10.6.5. Middle East & Africa Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Output Product Type, 2021-2034
10.6.6. Middle East & Africa Plastic Chemical Recycling Market Revenue (US$ Million) Estimates and Forecasts by Application / End-Use Industry, 2021-2034
Chapter 11. Competitive Landscape
11.1. Major Mergers and Acquisitions/Strategic Alliances
11.2. Company Profiles
11.2.1. Recuro
11.2.1.1. Business Overview
11.2.1.2. Key Product/Service
11.2.1.3. Financial Performance
11.2.1.4. Geographical Presence
11.2.1.5. Recent Developments with Business Strategy
11.2.2. Agilyx
11.2.3. Plastic Energy
11.2.4. Quantafuel
11.2.5. Nexus Circular
11.2.6. Alterra Energy
11.2.7. New Hope Energy
11.2.8. Brightmark
11.2.9. Freepoint Eco-Systems
11.2.10. Encina
11.2.11. BlueAlp
11.2.12. OMV
11.2.13. Recycling Technologies
11.2.14. Greenback Recycling Technologies
11.2.15. ReOil Hungaria
11.2.16. Resynergi
11.2.17. Klean Industries
11.2.18. BioBTX
11.2.19. Plastic2Oil / JBI
11.2.20. ReNewlogy
11.2.21. Integrated Green Energy (IGE)
11.2.22. Quantafuel Skive
11.2.23. Argelec
11.2.24. Orlen Unipetrol
11.2.25. Qenersys / QuantaFuel
Plastic Chemical Recycling Market -By Technology :
Plastic Chemical Recycling Market -By Polymer Type:
Plastic Chemical Recycling Market -By Feedstock Source:
Plastic Chemical Recycling Market -By Output Product Type:
Plastic Chemical Recycling Market -By Application / End-Use Industry:
Plastic Chemical Recycling Market by Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
