The global circular polymers market is expected to grow at a CAGR of approximately 9.1%, reaching a valuation of US$ 163.9 billion by 2032. This growth is largely driven by the increasing demand for recyclable polymers in sectors such as packaging and construction.

According to Fact.MR, a market research and competitive intelligence provider, the circular polymers market has historically been propelled by its use in the plastics and polymer industry, particularly within the packaging sector in developed countries. Consumers in these regions are increasingly opting for products made from recyclable plastics, fueling the market’s expansion.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=6913

Consumers worldwide are increasingly prioritizing sustainable materials over conventional plastics, leading to a growing demand for recyclable products across various regions. This shift in consumer preference has significantly boosted the demand for recyclable polymer products globally.

To capitalize on this trend, manufacturers are engaging in backward supply chain integration, linking directly with feedstock material suppliers. This strategy allows them to improve product quality, enhance profit margins, and gain a competitive advantage. By leveraging proprietary technologies, companies can produce higher-grade recyclable polymers, thereby reducing costs while improving quality.

Can Circular Polymer Suppliers Benefit from the Petrochemical Sector?

Plastic production requires substantial resources, primarily fossil fuels, with plastics accounting for about 8% of global annual fossil fuel consumption. In response, many companies are exploring the conversion of plastic waste into various products, with biofuel emerging as one of the most promising alternatives.

Biofuel, a viable engine fuel, is produced through catalytic pyrolysis, where waste plastic is converted into biofuel using catalysts like dry wood and ash powder. This process enhances fuel quality and conversion efficiency. The goal is to convert waste plastic into 65% usable liquid hydrocarbon fuels without generating emissions. This approach not only addresses the issue of hazardous plastic waste but also reduces crude oil imports. Plastic fuel, compared to diesel, emits significantly lower levels of carbon monoxide and unburned hydrocarbons, though nitrogen oxide emissions are higher. Large-scale production of plastic fuel from various plastics holds potential economic benefits.

Read More: https://www.factmr.com/report/circular-polymers-market

Key Segments Covered in the Europe Circular Polymers Industry Survey

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
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.
𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:
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Key Takeaways from Europe Circular Polymers Market Study

By material, PET material is projected to provide an absolute $ opportunity worth US$ 26 billion over the forecast period (2022-2032).
Based on form, demand for pellets is projected to increase at a CAGR of around 9.7%.
Based on end use, circular polymer consumption in the packaging industry is anticipated to increase around 2.7X by 2032.
North America is projected to capture around 24.8% of the global circular polymers market share by 2032.
Europe is expected to provide an absolute dollar opportunity worth US$ 43.42 billion by 2032-end.
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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