Circular Polymers Market Analysis

Circular Polymers Market Analysis

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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 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.
 

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.