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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