PUBLISHER: The Business Research Company | PRODUCT CODE: 1597019
PUBLISHER: The Business Research Company | PRODUCT CODE: 1597019
A circular polymer is a specific type of polymer where the chains are linked end-to-end, creating a closed loop or ring structure, in contrast to the linear or branched forms typically found in conventional polymers. This circular configuration imparts distinct physical and chemical properties when compared to linear polymers. Circular polymers can demonstrate unique attributes, including enhanced thermal stability, greater mechanical strength, and altered solubility characteristics.
The primary categories of circular polymers include polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), and polyamide (PA), among others. Polyethylene, one of the most prevalent thermoplastic polymers, is produced from ethylene gas through the process of polymerization. Its various forms include pellets and flakes. These materials find applications across multiple sectors, including packaging, construction, automotive, electrical, and electronics.
The circular polymer market research report is one of a series of new reports from The Business Research Company that provides circular polymer market statistics, including circular polymer industry global market size, regional shares, competitors with a circular polymer market share, detailed circular polymer market segments, market trends, and opportunities, and any further data you may need to thrive in the circular polymer industry. This circular polymer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The circular polymer market size has grown rapidly in recent years. It will grow from $80.38 billion in 2023 to $90.94 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth during the historical period can be credited to a heightened awareness across various industries regarding the use of recycled materials to minimize carbon footprints, a greater adoption of recyclable materials within the packaging sector, supportive initiatives aimed at promoting recycled plastics, an increased emphasis on waste management, and a rise in urbanization.
The circular polymer market size is expected to see rapid growth in the next few years. It will grow to $150.15 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The anticipated growth during the forecast period can be linked to the rising use of takeaway plastic food packaging, an increasing demand for sustainable products, heightened vehicle production, substantial investments from the current government in infrastructure development, and a growing volume of plastic waste. Key trends expected in this period include advancements in polyethylene terephthalate (PET) recycling technologies, new dissolution processes, innovative methods for converting waste into reusable polymers, the development of cutting-edge plastic recycling facilities, and carpet reclaiming technologies.
The anticipated growth in vehicle production is expected to significantly boost the circular polymer market in the coming years. Vehicle production encompasses the manufacturing of various types of vehicles, including cars, trucks, buses, motorcycles, and other motorized forms of transportation. The increase in vehicle production is driven by factors such as economic development in emerging regions, urbanization, population growth, and advancements in automotive technology. Circular polymers play a vital role in vehicle manufacturing as the automotive industry aims to enhance sustainability, minimize environmental impact, and maintain production flexibility. For example, data from the European Automobile Manufacturers Association indicates that global motor vehicle production reached 85.4 million units in 2022, marking a substantial 5.7% increase compared to 2021. Thus, the rise in vehicle production is a key factor propelling the growth of the circular polymer market.
Leading companies in the circular polymer market are concentrating on creating innovative products, such as single pellet solutions, which enhance sustainability by improving material efficiency, reducing waste, and simplifying recycling processes. Single-pellet solutions represent a type of masterbatch technology that streamlines the production process by eliminating the need for multiple additive components, thereby improving efficiency and ensuring consistent quality in the final product. For instance, in August 2023, LyondellBasell, a UK-based polymer manufacturer, introduced the CirculenRecover portfolio, which includes CirculenRecover polymers, CirculenRevive polymers, and CirculenRenew polymers that offer single pellet solutions. This portfolio comprises eight new-grade polymers aimed at enhancing sustainability in plastic packaging. Notably, CirculenRecover features polymers made from plastic waste through a mechanical recycling process and can contain up to 100% Post-Consumer Resin (PCR), designed to meet the performance needs of various applications, particularly in industrial and food packaging.
In November 2022, Ascend Performance Materials LLC, a US-based manufacturer of chemicals, fibers, and plastic products, acquired a majority stake in Circular Polymers for an undisclosed amount. This acquisition aligns with Ascend Performance Materials LLC's objectives to bolster its sustainability initiatives and ensure a consistent supply of post-consumer recycled (PCR) materials. Circular Polymers is a US-based company that offers various circular polymers, including nylon 6, polypropylene, and nylon 6,6.
Major companies operating in the circular polymer market are Exxon Mobil Corporation, TotalEnergies SE, Reliance Industries Limited, BASF SE, Dow Chemical Company, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries, Veolia Environnement S.A., Covestro AG, Braskem S.A., Ineos Group, Borealis AG, Eastman Chemical Company, Suez Group, Ascend Performance Materials Operations LLC, Visy Industries, KW Plastics, QCP B.V, The Shakti Plastic Industries, CleanEco Group Limited
Asia-Pacific was the largest region in the circular polymer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the circular polymer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the circular polymer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The circular polymer market consists of sales of bio-based polymers, compostable polymers, and de-polymerizable polymers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Circular Polymer Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on circular polymer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for circular polymer ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The circular polymer market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.