Mixed Plastic Waste Recycling Market to Grow with a CAGR of 13.56% through 2029
Technological innovation in end-use applications is
expected to drive the Global Mixed Plastic Waste Recycling Market growth in the
forecast period, 2025-2029.
According to TechSci Research report, “Mixed Plastic Waste Recycling Market - Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2029F”, the Global
Mixed Plastic Waste Recycling Market stood at USD 258.62 Million in 2023 and is
anticipated to grow with a CAGR of 13.56% through 2029. Technological innovation in
end-use applications serves as a pivotal driver for the mixed plastic waste
recycling market. These advancements in recycling technologies enable the
production of high-quality recycled plastics that meet stringent performance
standards required across various applications, such as packaging, automotive
components, construction materials, and consumer goods.
Enhanced sorting techniques and
advancements in chemical recycling processes ensure that recycled plastics
exhibit properties comparable to virgin materials, expanding their usability in
demanding applications and creating new market opportunities. For example,
Tupperware Brands Corporation has collaborated with SABIC, a global leader in
petrochemicals, to integrate certified circular polymers derived from mixed
plastic waste into their product offerings. This initiative includes
introducing reusable products like straws and coffee cups, aiming to reduce
reliance on single-use plastics. The ongoing evolution of recycling
technologies and materials science is expected to further accelerate the
adoption of sustainable practices across industries, driving continued growth
in the market for mixed plastic waste recycling.
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Global Mixed Plastic Waste Recycling Market is
segmented into type of mixed plastic waste, process, application, regional
distribution, and company.
Based on Application, Manufacturing New Plastic
Products emerged
as the dominant segment in the Global market of Mixed Plastic Waste Recycling in
2023.
Advancements in
recycling technologies have significantly enhanced the capacity to convert
mixed plastic waste into high-quality recycled resins suitable for
manufacturing new plastic products. These technologies encompass advanced
sorting, cleaning, and processing methods that improve the purity and
consistency of recycled plastics. There is growing pressure from both consumers
and regulatory bodies for products to incorporate recycled materials, including
plastics. In response, manufacturers are increasingly integrating recycled
content into their products to meet sustainability objectives and address
environmental concerns. For instance, Teamplas Group, a prominent manufacturer
of recycled resin in Southeast Asia specializing in mixed post-consumer waste,
has successfully produced high-quality recycled pellets using a compatibilizer
developed by BASF. These pellets are suitable for manufacturing premium office
equipment and car interior parts when combined with virgin materials.
Additionally, in 2024, Braskem Netherlands B.V. and Shell Chemicals Europe B.V.
entered into an agreement to produce circular polypropylene from mixed plastic
waste, highlighting the industry's shift towards circular economy practices
aimed at minimizing waste and optimizing resource use. Businesses are
increasingly adopting circular economy principles, including the utilization of
recycled mixed plastics in manufacturing processes. This approach not only
helps close the loop on plastic waste but also aligns with sustainability goals
by reducing dependence on virgin plastics. In another example of industry
collaboration, Dow and Freepoint Eco-Systems have announced a partnership to
supply approximately 65,000 metric tonnes per year of 'certified-circular,
plastic waste-derived' pyrolysis oil for producing new, high-quality plastics
at Dow's U.S. Gulf Coast facilities. The ongoing advancements in recycling
technologies and the growing adoption of recycled content by industries are
expected to drive further expansion in this sector, supporting sustainable
practices and reducing environmental impact.
Based on region, Europe emerged as the dominant region in the Global
market of Mixed Plastic Waste Recycling in 2023. Europe's dominance in the
mixed plastic waste recycling market is bolstered by its stringent regulatory
framework, advanced infrastructure, high consumer demand for sustainable
products, strong government support, and leadership in green technologies. European
Union (EU) regulations, such as the Circular Economy Action Plan and the
Single-Use Plastics Directive, establish ambitious recycling targets and
promote the utilization of recycled materials. These regulations stimulate
investments in recycling infrastructure and technologies across Europe. The
region boasts well-established recycling infrastructure and advanced
technologies for sorting, processing, and recycling mixed plastic waste,
facilitating efficient operations and elevated levels of plastic recovery. European
governments offer financial incentives, grants, and subsidies to support
recycling initiatives and promote circular economy practices. For instance,
Itero Technologies received €5 million from the EU’s Just Transition Fund to
establish a chemical recycling demonstration plant for mixed plastic waste at
Brightlands Chemelot Campus in 2024. These supportive policies encourage
innovation and investment in plastic waste recycling. EU policymakers advocate
for mandatory sorting of mixed household waste to achieve recycling targets and
reduce the incineration of recyclable materials like paper, metals, and
plastics. Ongoing efforts in innovation and collaboration are anticipated to
further cement Europe's position as a global leader in recycling plastic waste.
Major companies operating in Global Mixed Plastic Waste Recycling Market are:
- Sulzer
Limited
- Plastonix
- Elemental
Recycling, Inc.
- Axens Group
- BASF SE
- Envision
Holdings, Inc.
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“The mixed plastic waste recycling market pioneers the
transformation of diverse plastics into valuable resources using advanced
technologies and sustainable practices. This sector not only mitigates
environmental impact but also spurs economic growth and fosters innovation by
repurposing varied plastic materials into high-quality recycled products. With
growing global awareness and regulatory backing, mixed plastic waste recycling
is positioned to lead towards a sustainable future guided by principles of the
circular economy, ensuring efficient resource utilization and conservation for
future generations.”, said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“Mixed Plastic Waste Recycling Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type of
Mixed Plastic Waste (Post-consumer Mixed Plastic, Post-industrial Mixed
Plastic, Ocean Plastic), By Process (Chemical, Others), By Application
(Manufacturing New Plastic Products, Textiles, Construction Materials, Fuel
Production, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Mixed Plastic Waste Recycling Market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in Global
Mixed Plastic Waste Recycling Market.
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