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From 2023 to 2030, the worldwide microplastic recycling market is forecast to expand from its 2022 valuation of USD 267.0 mln at a CAGR (compound annual growth rate) of 7.8 percent. Government regulations, environmental concerns, technical advances, consumer awareness, and the growing use of microplastics across industries are all factors that should drive market growth in the next years. The United States' heavy investment in microplastic recycling R&D is likely to be a major market factor. New methods and processes for the effective and affordable recycling of microplastics are now being developed by manufacturers. Demand for recycled plastics, especially microplastics, has risen as a result of manufacturers' efforts to reduce their impact on the environment.
Evidence of microplastics entering the food chain has been gathered by scientists, especially in marine areas. And it appears that microplastics can concentrate organic contaminants from the environment, putting local flora and wildlife at risk from increased exposure to these toxins. Long-term human exposure to microplastics has not been studied extensively, although various initiatives, both government and privately sponsored, are now looking into the matter. In order to better understand the effects of microplastics on the environment and human health, we are working closely with scientists and with policymakers and regulators to implement measures to reduce their release.
Regulations being introduced by governments all over the world to cut down on plastic waste are anticipated to increase the demand for microplastic recycling. In addition, shoppers are becoming more cognizant of the consequences of their purchasing decisions on the environment and are increasingly interested in eco-friendly options. Products containing recycled materials, such as microplastics, have become increasingly popular as a result.
Businesses benefit financially from microplastic recycling, while the recycling industry benefits from lower production costs. The environmental impact of plastic waste can be reduced through recycling microplastics, which prevents them from being dumped in landfills or the ocean. In addition, there are profitable new opportunities for microplastic recycling thanks to rising demand from end-use industries like automotive & transportation, packaging, consumer products, textile, and others.
It's vital that we find ways to stop plastic trash from being mishandled. Increased plastic re-use and decreased waste sent to landfills can result from recent developments in mechanical and chemical recycling. Our sector recently pledged to increase the percentage of recycled polymer in plastic packaging to at least 30% by 2030. Another encouraging development is the proliferation of "sustainability by design," in which plastic products are created with an eye towards their eventual decomposition. These goods are made to be harmless to both people and the planet, and they are also simpler to recycle. Through Operation Clean Sweep®, we are making concerted efforts to eliminate resin pellet spillage prior to production. This programme increases pellet recovery and cuts down on pellet loss during manufacturing and shipping.
More than 76.0 percent of the market's revenue in 2022 came from the secondary products category. Recovery of microplastics from used and discarded sources, such as plastic bottles, packaging, and other debris, is known as secondary microplastic recycling. The amount of microplastic debris that ends up in landfills, oceans, and other natural habitats can be reduced through secondary recycling. Because recovered materials are cheaper than virgin resources, secondary microplastic recycling can be financially beneficial.
Report Coverage
Global Microplastic Recycling research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Microplastic Recycling report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Microplastic Recycling competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Microplastic Recycling market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Microplastic Recycling market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Microplastic Recycling market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Carbios, Purecycle technologies, Ioniqa, Calyxia, Polygonesystems, PlanetCare, ECOFARIO, Ocean Diagnostics, Oceanworks, Matter.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Microplastic Recycling market based on the below-mentioned segments:
Global Microplastic Recycling Market, By Product
Primary
Secondary
Global Microplastic Recycling Market, By End User
Packaging
Agriculture
Consumer goods
Textile
Automotive & Transportation
Building & Construction
Others
Global Microplastic Recycling market, Regional Analysis
Evidence of microplastics entering the food chain has been gathered by scientists, especially in marine areas. And it appears that microplastics can concentrate organic contaminants from the environment, putting local flora and wildlife at risk from increased exposure to these toxins. Long-term human exposure to microplastics has not been studied extensively, although various initiatives, both government and privately sponsored, are now looking into the matter. In order to better understand the effects of microplastics on the environment and human health, we are working closely with scientists and with policymakers and regulators to implement measures to reduce their release.
Regulations being introduced by governments all over the world to cut down on plastic waste are anticipated to increase the demand for microplastic recycling. In addition, shoppers are becoming more cognizant of the consequences of their purchasing decisions on the environment and are increasingly interested in eco-friendly options. Products containing recycled materials, such as microplastics, have become increasingly popular as a result.
Businesses benefit financially from microplastic recycling, while the recycling industry benefits from lower production costs. The environmental impact of plastic waste can be reduced through recycling microplastics, which prevents them from being dumped in landfills or the ocean. In addition, there are profitable new opportunities for microplastic recycling thanks to rising demand from end-use industries like automotive & transportation, packaging, consumer products, textile, and others.
It's vital that we find ways to stop plastic trash from being mishandled. Increased plastic re-use and decreased waste sent to landfills can result from recent developments in mechanical and chemical recycling. Our sector recently pledged to increase the percentage of recycled polymer in plastic packaging to at least 30% by 2030. Another encouraging development is the proliferation of "sustainability by design," in which plastic products are created with an eye towards their eventual decomposition. These goods are made to be harmless to both people and the planet, and they are also simpler to recycle. Through Operation Clean Sweep®, we are making concerted efforts to eliminate resin pellet spillage prior to production. This programme increases pellet recovery and cuts down on pellet loss during manufacturing and shipping.
More than 76.0 percent of the market's revenue in 2022 came from the secondary products category. Recovery of microplastics from used and discarded sources, such as plastic bottles, packaging, and other debris, is known as secondary microplastic recycling. The amount of microplastic debris that ends up in landfills, oceans, and other natural habitats can be reduced through secondary recycling. Because recovered materials are cheaper than virgin resources, secondary microplastic recycling can be financially beneficial.
Report Coverage
Global Microplastic Recycling research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Microplastic Recycling report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Microplastic Recycling competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Microplastic Recycling market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Carbios, Purecycle technologies, Ioniqa, Calyxia, Polygonesystems, PlanetCare, ECOFARIO, Ocean Diagnostics, Oceanworks, Matter. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Microplastic Recycling Market from 2021 to 2030.
- Market Forecast for Microplastic Recycling Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Microplastic Recycling competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Microplastic Recycling
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Microplastic Recycling market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Microplastic Recycling market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Carbios, Purecycle technologies, Ioniqa, Calyxia, Polygonesystems, PlanetCare, ECOFARIO, Ocean Diagnostics, Oceanworks, Matter.
Primary Target Market
- Market Players of Microplastic Recycling
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Microplastic Recycling market based on the below-mentioned segments:
Global Microplastic Recycling Market, By Product
Primary
Secondary
Global Microplastic Recycling Market, By End User
Packaging
Agriculture
Consumer goods
Textile
Automotive & Transportation
Building & Construction
Others
Global Microplastic Recycling market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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