According to the 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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Key Market Drivers
Technological Advancements
The ongoing 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. Advanced sorting, cleaning, and processing methods improve the purity and consistency of recycled plastics, which is crucial for high-quality applications.
Industry Collaborations and Innovations
Collaborations between major companies have led to significant advancements in the market. For instance:
- Teamplas Group has successfully produced high-quality recycled pellets from mixed post-consumer waste, suitable for premium office equipment and car interior parts, using a compatibilizer developed by BASF.
- In 2024, Braskem Netherlands B.V. and Shell Chemicals Europe B.V. agreed to produce circular polypropylene from mixed plastic waste.
- Dow and Freepoint Eco-Systems announced a partnership to supply certified-circular, plastic waste-derived pyrolysis oil for producing new, high-quality plastics.
Market Segmentation
By Application
- Manufacturing New Plastic Products: Dominant segment in 2023 due to the enhanced ability to convert mixed plastic waste into high-quality recycled resins. The growing pressure from consumers and regulatory bodies to incorporate recycled materials into products is driving this segment.
- Textiles
- Construction Materials
- Fuel Production
- Others
By Type of Mixed Plastic Waste
- Post-consumer Mixed Plastic
- Post-industrial Mixed Plastic
- Ocean Plastic
By Process
- Chemical Recycling
- Others
Regional Insights
Europe
Europe emerged as the dominant region in the Global Mixed Plastic Waste Recycling Market in 2023. This dominance is bolstered by:
- Stringent Regulatory Framework: The European Union’s Circular Economy Action Plan and the Single-Use Plastics Directive establish ambitious recycling targets.
- Advanced Infrastructure: Europe has well-established recycling infrastructure and advanced technologies for sorting, processing, and recycling mixed plastic waste.
- Government Support: Financial incentives, grants, and subsidies are provided to support recycling initiatives and promote circular economy practices.
In 2024, 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.
Competitive Landscape
Major Companies
- Sulzer Limited
- Plastonix
- Elemental Recycling, Inc.
- Axens Group
- BASF SE
- Envision Holdings, Inc.
Market Insights and Developments
In recent years, major industry players have made significant strides in developing technologies and collaborations aimed at enhancing the recycling of mixed plastic waste. For example:
- AstraZeneca announced in April 2023 that their team was working on using lipid nanoparticles as delivery vehicles for therapeutics that can directly target cells.
- Phosphorex and Dolomite Microfluidics collaborated in June 2021 to develop lipid and polymeric nanoparticles for non-viral delivery of medicines and vaccines.
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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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