Advanced Recycling Technologies Market Overview
The global advanced recycling technologies market is estimated to reach $9,339.7 million in 2031, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 48.22% during the forecast period 2022-2031.
Some of the major drivers that are propelling the growth of the market are supportive government initiatives, strict recycling regulations, a ban on single-use plastic, extensive investments in dedicated R&D facilities, and the presence of major manufacturing companies such as Stena Metall, Gr3n Recycling, Carbios SA, Recycling Avenue BV, BlueAlp Innovations BV, and Quantafuel ASA.
USP of the Report
• Extensive competitive benchmarking of 20 key players to offer a holistic view of the global advanced recycling technologies market landscape
• Market segregation based on technology, product type, and end user
• Investment landscape, including product adoption scenario, funding, and patent analysis
• Impact of COVID-19 on the advanced recycling technologies market
• Global plastic waste management statistics
• Comparative analysis of key technologies
Analyst Perspective
According to Sachin Singh, Lead Analyst of the report, “In recent years, there has been an increased emphasis on employing recyclable, reusable, or biodegradable materials, which has given rise to advanced recycling technologies. With the growth of plastic waste, there is an increasing need for advanced recycling. For instance, according to United Nations, the amount of plastic garbage increased dramatically, from 2 million tonnes in 1950 to more than 460 million tonnes in 2021, and it is predicted that this amount will double by the year 2040. This is creating the need for stricter regulations on recycling and influencing the advanced recycling technologies market. Various companies such as Nestlé and PepsiCo have announced to replace all their packaging with recyclable materials by 2025. Therefore, the growing interest of food and beverage and consumer goods companies in employing recyclable materials is likely to supplement the market growth.”
Key Companies Operating in The Market
Key players in the global advanced recycling technologies market analyzed and profiled in the study involve advanced recycling technologies manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global advanced recycling technologies market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include Agilyx, Stena Metall, Chevron Phillips Chemical Company LLC, Honeywell International Inc., Plastic Energy, Enerkem, Loop Industries, Inc., Gr3n Recycling, Carbios SA, Pyrowave, Polystyvert Inc., Recycling Avenue BV, BlueAlp Innovations BV, Quantafuel ASA, Mura Technology Limited, Alterra, Aduro Clean Technologies Inc., Brightmark, GreenMantra Technologies, and Axens.
Key Questions Answered in the Report/h3>
• Which are the most promising advanced recycling technologies available in the market?
• What are the various sustainability targets such as usage of recycling materials in packaging applications adopted by food, cosmetics, and other producers?
• How does the supply chain function in the global advanced recycling technologies market?
• What are the major patents filed by the companies active in the global advanced recycling technologies market?
• Who are the prominent players catering to the demand for the advanced recycling and What are the key offerings?
• What are the major factors and trends that are impacting the adoption of advanced recycling technologies market?
• What are the regulations affecting the advanced recycling technologies market?
• How much plastic waste is recycled globally?
• What is the market’s leading technology and most promising end-product, and how it would emerge in the coming years?
• What are the bottle necks in the adoption of advanced recycling technologies in various regions and countries?
• Which regions and countries are leading in the advanced recycling technologies market, and which of them are expected to witness high demand growth during 2022-2031?