Circular Polymers Market Analysis by Fact.MR discloses,

USA, Rockville MD, June 03, 2022 (GLOBE NEWSWIRE) — The global circular polymer market is expected to expand at a CAGR of approximately 9.1% and reach a valuation of US$163.9 billion by 2032, attributed to factors such as growing demand for recyclable polymers in the packaging and construction.

According to Fact.MR, a market research and competitive intelligence provider, historically, the circular polymer market has been driven by its consumption in the plastics and polymers industry, as well as the packaging industry. in developed countries, with consumers willing to buy products made from recyclable plastic.

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Consumers around the world place a higher value on sustainable materials than on conventional plastic, which is driving a change in the notion of recyclable products. Over the years, this has driven the demand for recyclable polymer products in all regions.

Integrating the supply chain upstream, from manufacturers to raw material suppliers, would help them improve quality, increase profit margins and gain a competitive advantage. This will allow companies to use proprietary technology to produce higher quality recyclable polymers, thereby improving polymer quality at lower cost.

Will circular polymer suppliers benefit from the petrochemical sector?

Producing plastic requires a large amount of resources, mostly fossil fuels, with plastics accounting for 8% of the world’s annual fossil fuel production. Many companies are trying to make a variety of products from plastic waste, and biofuel is one of the most promising products from plastic waste.

Biofuel is an alternative engine fuel. The catalytic pyrolysis method is used to turn plastic waste into biofuel, with dry wood and ash powder as the main catalysts. Adding catalyst improves conversion and fuel quality.

Transforming plastic waste into liquid hydrocarbons that can be used 65% without generating emissions is the idea in place. It would also deal with hazardous plastic waste and reduce imports of crude oil. Plastic fuel and its many blends emit much less carbon monoxide and unburned hydrocarbons than diesel fuel. however, emissions are higher for nitrogen oxides. The large-scale manufacture of plastic fuel from various plastics can be economically profitable.

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Key segments covered by the European Circular Polymers Industry Survey

  • Circular Polymers Market by Material:
    • polypropylene
    • PE
    • Nylon 6
    • Nylon 6.6
    • Other
  • Circular Polymers Market by Shape:
    • Circular polymer flakes
    • Circular polymer pellets
    • Others
  • Circular Polymers Market by End Use:
    • Packaging
    • Construction
    • Automotive
    • Electrical and Electronic
    • 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 the main suppliers of circular polymers.

  • Quality Circular Polymers LLC plans to increase its plastics recycling production capacity by approximately 55,000 tons/year. The company has partnered with Samsonite to produce Moplen QCP’s first circular PP suitcase.
  • SABIC recently acquired a 50% stake in Clariant, a company specializing in scientific designs. Considering the current global scenario of plastic pollution, the company presented “RE Globalize” for sustainable development at the Boao Forum for Asia (BFA) 2022 annual conference.
  • plastic energy and TotalEnergies announced a new partnership to accelerate the development of advanced plastic recycling. Plastic energy’s TACOIL, a patented product, will be used by TotalEnergies and will transform this raw material into virgin quality polymers suitable for food packaging.

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Key Players of North America Circular Polymers Market

  • Circular Polymer
  • Quality circular polymers
  • Advanced Circular Polymers
  • Total energies
  • plastic energy
  • close the loop
  • Borealis
  • Enerkem
  • Lehigh Technologies

Key takeaways from circular polymer market research in Europe

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

Do. Area of ​​expertise of MR in Chemistry and Materials Division

Expert analysis, actionable insights, and strategic recommendations from Fact.MR’s highly experienced chemicals and materials team help customers around the world meet their unique business intelligence needs.

With a directory of over a thousand reports and over a million data points, the team has analyzed the chemicals and materials division in more than 50 countries for more than a decade. The team provides unparalleled end-to-end research and advisory services. Contact us to find out how we can help you.

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