Global Circular Polymers Market Size, Share & Industry Trends Analysis Report By Form, By Application (Food Packaging, Adhesives & Sealants, Interior & Exterior Components, Wires & Cables, and Others), By End-use, By Type, By Regional Outlook and Forecast, 2023 - 2030

Analysis of Market Size & Trends

The Global Circular Polymers Market size is expected to reach $143.2 billion by 2030, rising at a market growth of 11.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 44,975.8 Kilo Tonnes experiencing a growth of 10.5% (2019-2022).

The polyvinyl chloride (PVC) segment procured a promising growth rate in the market in 2022. PVC is commonly used in construction for applications such as pipes, window profiles, and roofing materials. Consequently, the polyvinyl chloride (PVC) segment would generate approximately 17.86% share of the market by 2030. The demand for sustainable construction materials has led to the incorporating of recycled PVC in producing these materials. These factors will pose lucrative growth prospects for the polyvinyl chloride (PVC) segment. Some of the factors affecting the market are growing environmental concerns worldwide, regulatory initiatives related to plastic wastes, and limited collection and sorting infrastructure.

Circular polymers are often produced from post-consumer or post-industrial recycled materials, diverting plastic waste from landfills and oceans. This helps in mitigating the negative environmental impact associated with conventional plastic disposal. By using recycled materials as feedstocks, circular polymers reduce the reliance on virgin resources. These factors will boost the demand in the circular polymers market. Furthermore, Numerous governmental bodies have established obligatory recycling goals in an effort to mitigate the volume of plastic waste that ultimately enters landfills and oceans. These targets often require the use of recycled materials to produce plastics, promoting the adoption of circular polymers. Extended producer responsibility (EPR) programs shift the responsibility for managing post-consumer plastic waste from consumers to producers. These factors will help expand the market.

However, in regions with insufficient waste management infrastructure, the collection rates of plastic waste may be low. This means that a significant amount of plastic waste, which could potentially be used as feedstock for circular polymers, might end up in landfills, incineration, or littering. Effective recycling requires properly sorting plastic waste to separate different polymers. Inadequate infrastructure may result in poor sorting practices, leading to contamination of recycled materials. These aspects can lead to reduced demand in the market.

Type Outlook

Based on type, the market is segmented into polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polyamide (PA), and others. The polyethylene (PE) segment held the largest revenue share in the market in 2022. In response to rising environmental consciousness and apprehensions regarding plastic pollution, the demand for products containing recycled materials has increased. Polyethylene, being a versatile polymer, is a major contributor to the circular polymers market as recycled PE (rPE) gains popularity in various applications. These factors will boost the demand in the segment.

Form Outlook

On the basis of form, the market is bifurcated into pellets and flakes. In 2022, the flakes segment witnessed a substantial revenue share in the market. Growth in the recycling infrastructure, including efficient collection and sorting systems, can positively impact the availability of high-quality plastic flakes. Well-established recycling systems contribute to a consistent feedstock supply for producing circular polymers. These factors will lead to increased expansion in the segment.

Application Outlook

Based on application, the market is divided into food packaging, adhesives & sealants, interior & exterior components, wires & cables, and others. The food packaging segment recorded the maximum revenue share in the market in 2022. Consumer preferences are shifting towards sustainable and eco-friendly products, including food packaging. Circular polymers, derived from recycled materials, align with these preferences, and brands are increasingly adopting them to meet consumer demands for environmentally conscious packaging. These aspects will help in boosting the demand in the segment.

End-use Outlook

On the basis of end-use, the market is bifurcated into packaging, building & construction, automotive, electrical & electronics, and others. In 2022, the building and construction segment witnessed a substantial revenue share in the market. As environmental concerns and the need for sustainable building practices have become more widely recognized, the construction industry has begun to investigate environmentally benign alternatives. Circular polymers, which are obtained from renewable or recycled sources, support sustainability objectives and aid in the mitigation of the environmental impact of the industry. As a result, the demand in the segment is expected to increase in the coming years.

Circular Polymers Market Report Coverage

Report Attribute	Details
Market size value in 2022	USD 61.8 Billion
Market size forecast in 2030	USD 143.2 Billion
Base Year	2022
Historical Period	2019 to 2021
Forecast Period	2023 to 2030
Revenue Growth Rate	CAGR of 11.1% from 2023 to 2030
Number of Pages	532
Number of Table	990
Quantitative Data	Volume in Kilo Tonnes, Revenue in USD Million, and CAGR from 2019 to 2030
Report coverage	Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered	Form, Type, Application, End-use, Region
Country scope	North America (US, Canada, Mexico, and Rest of North America) Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe) Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific) LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included	LyondellBasell Industries Holdings B.V., SABIC (Saudi Arabian Oil Company), Ascend Performance Materials LLC (SK Capital and Partners), Veolia Environnement S.A., Exxon Mobil Corporation, Chevron Phillips Chemical Company LLC, Borealis AG (OMV), The Shakti Plastic Industries, Advanced Circular Polymers, and TotalEnergies SE.
Growth Drivers	Growing environmental concerns worldwide Regulatory initiatives related to plastic waste
Restraints	Limited collection and sorting infrastructure

Regional Outlook

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America segment acquired a considerable revenue share in the market. The increasing awareness regarding the adverse environmental impacts of plastic pollution has incited businesses and consumers in North America to investigate alternative plastic materials that do not adhere to conventional practices. Circular polymers, derived from recycled materials, align with efforts to address plastic waste issues. These aspects will help to increase the demand in the North America segment.

Free Valuable Insights: Global Circular Polymers Market size to reach USD 143.2 Billion by 2030

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include LyondellBasell Industries Holdings B.V., SABIC (Saudi Arabian Oil Company), Ascend Performance Materials LLC (SK Capital and Partners), Veolia Environnement S.A., Exxon Mobil Corporation, Chevron Phillips Chemical Company LLC, Borealis AG (OMV), The Shakti Plastic Industries, Advanced Circular Polymers, and TotalEnergies SE.

Strategies deployed in the Market

• Sep-2023: Chevron Phillips Chemical Company LLC collaborated with Danimer Scientific, formerly known as Meredian Holdings Group Inc. and MHG, a biopolymer manufacturer. This collaboration aimed to utilize Rinnovo polymers produced in a loop slurry reactor process to create biodegradable cast extrusion films, blown extrusion films, injection moulded parts, and rational moulded parts.
• Jul-2023: TotalEnergies SE collaborated with Aramco, SABIC (Saudi Arabia Basic Industries Corporation), a chemical manufacturer. This collaboration aimed to convert oil derived from plastic waste into circular polymers.
• Jun-2023: Circular Polymers by Ascend introduced Cerene, a line of recycled polymers and materials made from the company’s proprietary carpet reclaiming technology. The alunched prodcut would be available as polyamide 6 and 66, PET, polypropylene and calcium carbonate as a consistent, sustainable feedstock for many applications, consisting of molding and compounding.
• Jun-2023: Borealis AG took over Rialti S.p.A., a polypropylene (PP) compounder of recyclates based in the Varese area of Italy. This acquisition aimed to expand Borealis's PP compounding business and, in particular, increasing its volume of PP compounds based on mechanical recyclates.
• May-2023: Borealis AG launched Bornewables, a line of Queo, a range of plastomers and elastomers based on renewable feedstock. The launched product would allow Borealis to meet increasing customer demand for sustainable solutions that don’t compromise on quality or performance.
• Oct-2022: LyondellBasell Industries Holdings B.V. signed an agreement with Shakti Plastic Industries, India’s largest plastic scrap recycler and waste collection company. This agreement aimed to form a joint venture to build and operate a fully automated, mechanical recycling plant in India. Additionally, the plant would be intended to process rigid packaging post-consumer waste and produce 50.000 tonnes of recycled polyethylene (PE) and polypropylene (PP) per year, equivalent to the single-use plastic waste produced by 12.5 million citizens.
• Oct-2022: TotalEnergies SE rolled out new product range RE: clic for its low-carbon polymers that contribute to addressing the challenges of the circular economy. The launched product would aim to contain recycled plastic obtained through a mechanical recycling process.
• Oct-2022: Ascend Performance Materials LLC unveiled ReDefyne, a portfolio of sustainable polyamides. The launched product would be created with up to 100% pre- and post-consumer recycled polyamide 66 or 6 to provide a low carbon footprint and reliable performance, even in demanding applications.
• Jun-2022: Ascend Performance Materials LLC acquired Formulated Polymers Limited, an engineered materials producer based in Chennai, India. This acquisition would aim to broaden Ascend manufacturing footprint and product portfolio in line with customers' growth roadmaps
• Nov-2021: SABIC introduced the world’s first certified circular polymers. The launched product would be produced through the advanced recycling of recovered mixed and used ocean-bound plastic.
• Apr-2021: LyondellBasell Industries Holdings B.V. released a suite of products under the name Circulen enabling brand owners to improve the sustainability of consumer products. This launch would mark the next step in LyondellBasell offering on its sustainability goal of producing and marketing two million metric tons of recycled and renewable-based polymers annually by 2030.

Scope of the Study

Market Segments Covered in the Report:

By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Pellets
• Flakes

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Food Packaging
• Adhesives & Sealants
• Interior & Exterior Components
• Wires & Cables
• Others

By End-use(Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Packaging
• Building & Construction
• Automotive
• Electrical & Electronics
• Others

By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Polyethylene (PE)
• Polypropylene (PP)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Polyamide (PA)
• Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• LyondellBasell Industries Holdings B.V.
• SABIC (Saudi Arabian Oil Company)
• Ascend Performance Materials LLC (SK Capital and Partners)
• Veolia Environnement S.A.
• Exxon Mobil Corporation
• Chevron Phillips Chemical Company LLC
• Borealis AG (OMV)
• The Shakti Plastic Industries
• Advanced Circular Polymers
• TotalEnergies SE