Global Solvent-based Plastic Recycling Market
The global Solvent-based Plastic Recycling market was valued at USD 600 million in 2021 which expected to reach USD 900.1 million by 2027 at a CAGR 6.75 % from 2022-2027.
Solvent-based processes may be useful in recycling currently non-recyclable plastics. Multilayer plastic materials are used in a variety of applications, including the electrical and electronic industries, as well as food and medical packaging. Each year, approximately 100 million tonnes of multilayer plastics containing up to twelve layers of varying polymers are produced globally. Due to the difficulty of recycling multilayer plastics, almost all of that plastic ends up in landfills or incinerators. By recycling multilayer plastics, solvent-based recycling can contribute to the resolution of this crisis.
Market Drivers
Growing plastic consumption has resulted in increasing plastic waste, which has become a global crisis as a result of poor plastic waste management. One of the novel approaches to resolving this crisis is solvent-based recycling of plastic waste. A selective solvent dissolution process is used to remove impurities and recover plastics that meet minimum standards for reuse.
Market challenges
Stringent regulations prohibiting the use of single-use plastics in regions such as Europe, North America, and Asia are expected to fuel the industry's growth.
Market Segmentation
The Global Solvent-based Plastic Recycling Market is segmented into Product, Application. By Product such as Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene, Others. Further, market is segmented into By Application such as Building & Construction, Packaging, Electrical & Electronics, Textiles, Automotive, Others.
Regional Analysis
Global Solvent-based Plastic Recycling Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe dominated the Solvent-based Plastic Recycling market. The regional expansion can be attributed to rising consumer awareness and increased regulatory pressure on plastic pollution. Governments and major corporations are constantly refining targets to reduce plastic waste and promote a circular economy in the plastics value chain, which has fueled interest in solvent-based recycling. Solvent-based recycling is also useful for recycling low-quality plastic waste that cannot be mechanically recycled.
North America has the largest market for solvent-based plastic recycling. The region is characterized by major companies involved in solvent-based recycling, such as Proctor & Gamble and Trinseo, as well as the United States, which is the world's largest producer of plastic waste.
Key Players
Various key players are listed in this report such as Solvay; Sulzer Ltd; Trinseo; Procter & Gamble; APK AG; PolystyreneLoop; PureCycle Technologies Inc; Saperatec GmbH.. among others.
Market Taxonomy
By Product
By Application
By Region
Key Questions Addressed by the Report
Global Solvent-based Plastic Recycling Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Solvent-based Plastic Recycling Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Solvent-based Plastic Recycling Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Global Solvent-based Plastic Recycling Market Share Analysis, By Product
5.3 Global Solvent-based Plastic Recycling Market Size and Forecast, By Product
5.3.1 Polyethylene
5.3.2 Polyethylene Terephthalate
5.3.3 Polypropylene
5.3.4 Polyvinyl Chloride
5.3.5 Polystyrene
5.3.6 Others
6 Global Solvent-based Plastic Recycling Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Solvent-based Plastic Recycling Market Share Analysis, By Application
6.3 Global Solvent-based Plastic Recycling Market Size and Forecast, By Application
6.3. 1 Building & Construction
6.3.2 Packaging
6.3.3 Electrical & Electronics
6.3.4Textiles
6.3.5 Automotive
6.3.6 Others
7 Global Solvent-based Plastic Recycling Market, By Region
7.1 Global Solvent-based Plastic Recycling Market Share Analysis, By Region
7.2 Global Solvent-based Plastic Recycling Market Share Analysis, By Region
7.3 Global Solvent-based Plastic Recycling Market Size and Forecast, By Region
8 North America Solvent-based Plastic Recycling Market Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Solvent-based Plastic Recycling Market Share Analysis, By Product
8.3 North America Solvent-based Plastic Recycling Market Size and Forecast, By Application
8.4 North America Solvent-based Plastic Recycling Market Size and Forecast, By Country
8.5.1 U.S.
8.6.2 Canada
9.7.3 Mexico
9 Europe Solvent-based Plastic Recycling Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Solvent-based Plastic Recycling Market Share Analysis, By Product
9.3 Europe Solvent-based Plastic Recycling Market Size and Forecast, By Application
9.4 Europe Solvent-based Plastic Recycling Market Size and Forecast, By Country
9.5.1 Germany
9.6.2 France
9.7.3 UK
9.8.4. Rest of Europe
10 Asia Pacific Solvent-based Plastic Recycling Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Solvent-based Plastic Recycling Market Share Analysis, By Product
10.3 Asia Pacific Solvent-based Plastic Recycling Market Size and Forecast, By Application
10.4 Asia Pacific Solvent-based Plastic Recycling Market Size and Forecast, By Country
10.5.1 China
10.6.2 Japan
10.7.3 India
10.8.4. Rest of Asia Pacific
11 Latin America Solvent-based Plastic Recycling Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Solvent-based Plastic Recycling Market Share Analysis, By Product
11.3 Latin America Solvent-based Plastic Recycling Market Size and Forecast, By Application
11.4 Latin America Solvent-based Plastic Recycling Market Size and Forecast, Country
11.5.1. Brazil
11.6.2. Rest of Latin America
12 Middle East Solvent-based Plastic Recycling Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East Solvent-based Plastic Recycling Market Share Analysis, By Product
12.3 Middle East Solvent-based Plastic Recycling Market Size and Forecast, By Application
12.4 Middle East Solvent-based Plastic Recycling Market Size and Forecast, By Country
12.5.1. Saudi Arabia
12.6.2. UAE
12.7.3. Egypt
12.8.4. Kuwait
12.9.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 Solvay
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Sulzer Ltd
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. Trinseo
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Procter & Gamble
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 APK AG.
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 PolystyreneLoop
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 PureCycle Technologies Inc.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Saperatec GmbH
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
