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Circular Polymers Market Size, Share and Industry Analysis Report by Polymer (Polyethylene Terephthalate (PET), Polyethylene, Polypropylene, Polyvinyl Chloride (PVC)) and Application (Packaging, Building & Construction, Automotive, Electrical & Electronics, Agriculture), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI5277
  • Published Date: May 2022
  • Report Format: PDF

Industry Overview

Circular Polymers Market size was USD 61.49 billion in 2021 and will grow at a CAGR of 10.9% from 2022 to 2030 owing to the growing packaging industry along with rising stringent regulations. The industry size may cross 104,986.67 Kilo Tons by 2030 with an anticipated CAGR of 9.4% in terms of volume, through the projected period.
 

circular polymers market outlook

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Circular polymers are recycled polymers that are produced from either post-consumer plastic waste or industrial waste. For instance, companies including Coca-Cola are looking forward to building a sustainable business environment. Coca-Cola aims to make primary consumer packaging recyclable by 2025 and use at least 50% recycled materials in packaging by 2030. Many multinational giants in the food & beverages sector are adopting the same strategy to reduce their impact on the environment and attract new consumers.
 

For instance, the demand for recycled polymers, primarily recycled PET, shot up in 2022 owing to the rising prices of crude oil. The cost of recycled PET overtook the cost of its virgin counterpart as the demand for recycled polymers was far greater than surging fossil fuel prices in Europe. Companies including Nestlé, Keurig Dr Pepper, Coca-Cola, PepsiCo, and Danone have pledged to use 25% or more recycled content in their packaging.
 

Over the past decade, there were rising concerns regarding the usage of non-biodegradable plastics and their impact on the environment & human health. Most polymers end up in landfills and water bodies, thus contaminating the water, soil, and air. Owing to these concerns, the demand for circular polymers is gaining traction. Consumers are becoming aware and adopting more sustainable products, which are alternatives to plastics. The regulatory environment is becoming more stringent and is forcing end-use industries to shift from virgin polymers to circular polymers.
 

Circular polymers are produced using plastics collected from various sources such as municipal wastes and industrial wastes. The plastic circular economy is a model of closed systems that promote the reuse and recycling of polymers. This model generates value from the waste and deters sending recovered plastics to landfills. The global plastics industry is researching for alternatives to replace fossil sources with renewable resources. The circular economy is converting more plastic wastes into recyclates; thus, the circular polymers market sales is expected to rise in the coming years.
 

Due to the limitations of recycled materials, manufacturers prefer to use virgin plastics over recycled polymers. In the food industry, the product comes in direct contact with the material. Due to the fear of contamination by recycled polymers owing to their previous use, virgin plastics are more preferred over recycled polymers.
 

The COVID-19 pandemic had a mixed impact on the global circular polymers market as different end-user industries witnessed varied impacts. Some global industries witnessed a reduction in demand and some witnessed growth in 2020. For instance, the e-commerce sector witnessed a rise in revenue as most people were buying online to limit exposure.
 

COVID-19 had a positive impact on the demand for single-use plastics. The demand for circular polymers was also affected by lockdowns, factory shutdowns & halts, travel restrictions, etc. The total industry size shrunk by 4% in 2020. The decrease in COVID-19 cases and the recovery of economies will reinstate the market demand to the pre-COVID-19 era.
 

Polyethylene terephthalate (PET) will dominate the market

circular polymers market by polymers

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Polyethylene terephthalate (PET) is the most recycled polymer in the world with an established infrastructure to collect PET bottles for recycling. PET has more than 10% recycling rate globally and in some countries, it can be more than 20%. The PET segment from circular polymers market will cross USD 95 billion by 2030. Growing recycling facilities and collection of PET packaging products will push the market growth in the future.
 

The packaging sector will push market growth in the short term

circular polymers market by packaging

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The packaging segment will hold around 45% demand share by 2030. There has been an uptick in the demand for recycled polymers in various industries such as consumer goods, food & beverages, and various other FMCG industries. Owing to the growing concerns over the environmental impact of the packaging industry, there is an increasing demand for recycled packaging materials in the food & beverages sector.
 

Using a safe & environmental-friendly packaging material for food & beverage is one of the factors driving the circular polymers market. Recycled polymers are also used in the packaging of bottled drinking water since they are regenerative and safe.
 

Accelerating plastic recovery in the U.S. will push the circular polymers market growth in North America

circular polymers market by region

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North America region will generate a demand of over 5 million tons by 2030. In the U.S., more than 35 million tons of plastics are used every year with food & service plastics accounting for more than 15 million tons. Consumers are gradually becoming aware of and sorting recyclable plastics from their end. The post-consumer plastic collection is expected to increase in the coming years. Furthermore, the growing demand for recycled polymers from the regional packaging industry will augment circular polymers market growth in the future.
 

Investment by various companies will push the production capacity

In January 2022, PlastiCycle Corp. announced that it is investing more than USD 6 million in Recycled High-Density Polyethylene (R-HDPE) and R-PP operations. Europe will also witness investments in billions of dollars in the future. Key circular polymers industry players involved in the market are Total Energies, KW Plastics, Quality Circular Polymers, Advanced Circular Polymers, Circular Polymers, Borealis, and Veolia.
 

Circular Polymers Market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2022 to 2030 for the following segments:

By Polymer

  • Polyethylene terephthalate (PET)
  • Polyethylene
  • Polypropylene
  • Polyvinyl Chloride (PVC)
  • Others

By Application

  • Packaging
  • Building & Construction
  • Automotive
  • Electrical & Electronics
  • Agriculture
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Poland
    • Belgium
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Indonesia
    • Malaysia
  • Latin America (LATAM)
    • Mexico
    • Brazil
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

The global circular polymers market is slated to surpass USD 175.6 billion by 2030 and is expected to record a CAGR of 10.9% through 2030 due to the swiftly growing packaging industry and the rising stringent regulations.

The industry share of the polyethylene terephthalate (PET) circular polymers is set to exceed USD 95 billion by 2030 on account of increasing recycling facilities and collection of PET packaging products.

The packaging application segment is expected to account for 45% of the circular polymers market demand share by 2030 due to the growing concerns related to environmental impacts and the rising need for recycled packaging materials in the food & beverages sector.

The circular polymers industry in North America is expected to exceed 5 million tons, in terms of volume, by 2030 owing to the rising demand for recycled polymers from the regional packaging industry.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 21
  • Tables & Figures: 200
  • Countries covered: 21
  • Pages: 200

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