Global Circular Economy of Chemical Recycling of Plastic Packaging

Transformative Mega Trends Drive the Growth of Complementary Solutions to the Mechanical Recycling of Plastic Packaging Waste

This research service provides a comprehensive analysis of the chemical recycling of the plastic packaging market. Chemical recycling is an important complementary solution to the well-established mechanical recycling of plastic packaging, enabling the processing of hard-to-recycle, mixed, and contaminated plastic waste. Chemical recycling offers a much-needed opportunity to eliminate incineration and landfill disposals, supporting the circular economy of plastic packaging and limiting the consumption of raw materials.

The market presents a high potential for development in the upcoming years, offering promising upgrades to plastic waste management. The global chemical recycling of plastic packaging market was worth $0.73 billion in 2022 and is projected to have a significant compound annual growth rate (CAGR) of 43.5% between 2022 and 2030, reaching $13.08 billion by 2030.

The study analyzes the prospects of different chemical recycling technologies (including plastic-to-fuel and plastic-to-plastic), examining regional markets and their readiness to adopt such solutions. It provides a comprehensive analysis of the stakeholder value chain and identifies the key factors driving and restraining growth. A list of the key companies in each market segment, examples of use cases, and an overview of companies to watch have also been provided. The study concludes by highlighting some key growth opportunities emerging from the development of chemical recycling globally for stakeholders and market players to leverage.