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Circular Polymers Market Trends

Report ID: GMI5277
Published Date: Dec 2024
Report Format: PDF

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Circular Polymers Market Trends

The concept of a circular economy, which emphasizes the reuse, recycling, and regeneration of materials, is gaining momentum worldwide. Industries are moving towards circular business models to minimize waste and maximize resource efficiency. Circular polymers play a crucial role in these efforts because they enable closed recycling of plastics, reducing dependence on new materials and reducing environmental impact. For example, in May 2024, Dow and Free Point Eco-Systems Supply and Trading LLC agreed to approximately 65,000 tons per year of certified round plastic waste pyrolysis oil. It is used at Dow's US Gulf Coast facilities to produce new high-quality equivalent plastics.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for circular polymers was valued at USD 94.1 billion in 2024 and is estimated to reach USD 229.2 billion by 2034, driven by a CAGR of over 9.2% from 2025 to 2034.

PET dominated the market by generating USD 50.4 billion in revenue in 2024 and is expected to reach USD 128.8 billion by 2034, driven by its excellent recyclability and wide-ranging applications.

U.S. market was valued at USD 5.6 billion in 2024, driven by stringent regulations promoting sustainable waste management and reducing dependency on virgin plastics.

Major players in the industry include Advanced Circular Polymers, ALBA Group, Banyan, BASF, Borealis, Circular Polymers, Dow, ExxonMobil, KW Plastics, and PlastiCycle.