(MENAFN- Meridian Market Consultants) The Reports and Insights, a leading market research company, has recently releases report titled “Chemical Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Chemical Recycling Market Share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Chemical Recycling Market?
The chemical recycling market is expected to grow at a CAGR of 7.2% during the forecast period of 2024 to 2032.
What are Chemical Recycling?
Chemical recycling is the process of converting polymeric waste by changing its chemical structure and turning it back into substances that can be used as raw materials for the manufacturing of plastics or other products. It breaks down the complex polymer chains of plastics into simpler monomers, which can be used to produce new plastics or other chemical products. It involves various techniques, including depolymerization, pyrolysis, and gasification. Its ability to process a wider range of plastics, including those considered challenging or non-recyclable through mechanical means, including multilayered or contaminated plastics that may be difficult to recycle conventionally.
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What are the growth prospects and trends in the Chemical Recycling industry?
The Chemical Recycling market growth is driven by the global concern over plastic waste and its impact on the environment, chemical recycling offers a solution by breaking down complex plastic polymers into their original chemical components, allowing for the creation of new plastics without degradation in quality. Further, the adaptability of chemical recycling technologies can process a wide range of plastics, including complex or contaminated materials, enhancing the market's appeal, especially as stakeholders seek comprehensive solutions to address diverse plastic waste streams. Additionally, governments and environmental agencies are implementing stringent regulations to limit single-use plastics and promote sustainable waste management practices by investing in technology innovations, research and development, continuing to improve the efficiency and scalability of chemical recycling processes, the market is expected to witness increased adoption and integration into broader waste management systems. Overall, the chemical recycling market growth is driving due to heightened environmental concerns, regulatory push for sustainable practices, corporate sustainability initiatives, the versatility of chemical recycling technologies, and investments in research and development.
What is included in market segmentation?
The report has segmented the market into the following categories:
1. By Technology:
Machine Learning
Natural Language Processing (NLP)
Computer Vision
Others
2. By Product Type:
Polycarbonate
Polyethylene Terephthalate (PET)
Poly Vinyl Chloride (PVC)
Polyurethane
Others
3. By Application:
Packaging
Building & Construction
Automotive
Textiles
Electronics
Others
4. By End-Use Industry:
Consumer Goods
Construction
Automotive
Electrical & Electronics
Textiles
Others
Segmentation By Region:
1. North America:
United States
Canada
2. Asia Pacific:
China
India
Japan
Australia & New Zealand
South Korea
Association of Southeast Asian Nations (ASEAN)
Rest of Asia Pacific
3. Europe:
Germany
The U.K.
France
Spain
Italy
Russia
Poland
BENELUX (Belgium, the Netherlands, Luxembourg)
NORDIC (Norway, Sweden, Finland, Denmark)
Rest of Europe
4. Latin America:
Brazil
Mexico
Argentina
Rest of Latin America
5. The Middle East & Africa:
Saudi Arabia
United Arab Emirates
South Africa
Egypt
Israel
Rest of MEA (Middle East & Africa)
Who are the key players operating in the industry?
The report covers the major market players including:
1. Agilyx Corporation
2. Plastic Energy
3. Renewlogy
4. GreenMantra Technologies
5. Mura Technology
6. Brightmark Energy
7. Pyrowave
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