Microplastic recycling is the process of collecting and treating plastic waste in order to reuse it and prevent microplastic pollution. Microplastic recycling aims to address the widespread issue of plastic pollution. Microplastics are tiny pieces of degraded plastic that are less than 5 mm in size and come from many sources such as clothing, containers, industrial processes, and domestic and industrial sewage systems. The growing usage of plastics and plastic pollution has created a need for developing solutions to reuse plastic waste responsibly.
The Global Microplastic Recycling Market is estimated to be valued at US$ 276.6 million in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period between 2024 to 2031.
Microplastic recycling facilities help divert plastic debris from landfills and natural environments. The process of microplastic recycling involves sorting the mixed plastic waste, shredding it into small flakes, cleaning and decontaminating it, and pelletizing it into recycled plastic resin that can be reused to manufacture new plastic products. This is a more sustainable alternative to single-use plastics and helps curb pollution.
Key Takeaways
Key players operating in The Global Microplastic Recycling Market are Polygonesystems, PlanetCare, ECOFARIO, Ocean Diagnostics, Oceanworks, Matter, Carbios, Purecycle technologies, Ioniqa, and Calyxia. These companies are developing innovative recycling technologies and collaborating with waste management firms to expand collection infrastructure for plastic waste recycling.
The growing awareness about environmental protection and sustainability is fueling demand for microplastic recycling globally. Government policies banning single-use plastics and regulations requiring plastic producers to adopt recycling goals are also propelling the microplastic recycling industry. Various initiatives to clean oceans and waterways of microplastics have heightened focus on developing end-to-end solutions for plastic waste management.
Major recycling companies are undertaking strategic expansions and partnerships globally to capitalize on the large and growing recycling market opportunities worldwide. Polygonesystems recently set up a microplastics recycling plant in Mexico while Carbios has collaborated with PepsiCo to develop new plastic recycling facilities across Europe. Such initiatives are helping strengthen the global recycling infrastructure and support a circular economy for plastics.
Market drivers
The increasing scarcity of fossil fuel resources and rising crude oil prices provide a strong incentive for plastic recycling and reuse. As recycling plastic waste is more cost-effective compared to producing new plastic products from crude oil, it also leads to significant savings for manufacturers. Stringent regulations restricting the use of virgin plastic in packaging and other applications are also driving the demand for high-quality recycled plastic resin obtained through microplastic recycling processes.
Impact of geopolitical situation on the growth of Global Microplastic Recycling Market
The global microplastic recycling market is facing challenges due to geopolitical conflicts in various parts of the world. The ongoing Russia-Ukraine war has disrupted supply chains and hampered manufacturing activity in Europe. It has negatively impacted the adoption of microplastic recycling technologies in the region. Similarly, rising geopolitical tensions between the United States and China are causing uncertainty. This can affect collaborations between stakeholders from both countries working on advanced recycling solutions.
Going forward, players in the microplastic recycling industry need to diversify their supply networks and establish alternative manufacturing hubs in low-risk regions. They should also focus on new technology partnerships within regions having political stability. Adopting a decentralized business model can help mitigate disruption risks for companies. Collaborating with local authorities and NGOs to create awareness about impacts of plastic pollution is equally important. This can boost community-led initiatives and waste management programs supporting industry growth.
Geographical regions with high market concentration in terms value
Currently, Europe accounts for the largest share of the global microplastic recycling market in terms of value. The strong presence of recycling infrastructure and regulations mandating the use of recycled plastic content make countries like Germany, UK, France ideal for market growth. North America is another major revenue generator led by rising recycling rates in the US. Meanwhile, emerging economies of Asia Pacific including India and China are fast catching up driven by their large plastic waste volumes. Stakeholders can tap opportunities in these densely populated markets through sustainable business models.
Fastest growing region for the Global Microplastic Recycling Market
Even though developed markets currently hold the major pie, the microplastic recycling market is projected to grow at the fastest pace in Latin America over the forecast period from 2024 to 2031. This is because countries in the region like Brazil, Mexico are strengthening their waste management infrastructure and policies promoting recycling industry. Multinational firms can set up innovative waste collection centers and partner with local youth groups to accelerate adoption. Collaborating with governments to develop regional standards can further boost recycling rates exponentially in Latin America.
Get More Insights On Microplastic Recycling Market
Global Glass Recycling Market size is poised to grow by USD 900.33 Million during the period 2021-2027.Glass is basically formed using materials such as soda ash, limestone, and silica.
Glass manufacture also results in the release of toxic gases such as nitrogen oxide, carbon dioxide, and sulfur.
Furthermore, the glass recycling process has several economic advantages, including lower raw material costs, longer furnace life, and other environmental advantages.
In-depth market estimates are presented for the various opportunities in the sector.
It is covered in various sections including drivers and constraints, challenges and opportunities, regional segmentation and opportunity assessment, end-use/applicability predictive analysis, and competitive landscape assessment.The key market players for the global Glass Recycling market are listed below:Strategic Materials, Ardagh, Momentum Recycling, Heritage Glass, Shanghai Yanlongji, The Glass Recycling Company, Spring Pool, Pace Glass, Vitro Minerals, Marco Abrasives, Rumpke, Binder+Co, Owens Corning, Trim, Vetropack Holding, SesotecBrowse now for Full Report Index or a Sample Copy @:https://www.introspectivemarketresearch.com/request/13017This sector will develop further during the forecast period due to new trends.
With our unique, structured, cutting-edge approach to creating high-quality market reports, the reports include relevant market insights.
In 2018, the global Solvent Recycling Technology market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019–2025.This report focuses on the global Solvent Recycling Technology status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Solvent Recycling Technology development in United States, Europe and China.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-solvent-recycling-technology-2019-2025-623The key players covered in this studyClean Planet ChemicalIST PureMaratek EnvironmentalVeoliaCBG TechnologiesCycleSolvTradebeMarket segment by Type, the product can be split intoOn-site Solvent RecyclingOff-site Solvent RecyclingMarket segment by Application, split intoChemicalPharmaceuticalOtherMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Solvent Recycling Technology status, future forecast, growth opportunity, key market and key players.To present the Solvent Recycling Technology development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Solvent Recycling Technology are as follows:History Year: 2014–2018Base Year: 2018Estimated Year: 2019Forecast Year 2019 to 2025For the data information by region, company, type and application, 2018 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.Get the Complete Report & TOC @ https://www.grandresearchstore.com/ict-and-media/global-solvent-recycling-technology-2019-2025-623Table of content1 Report Overview1.1 Study Scope1.2 Key Market Segments1.3 Players Covered1.4 Market Analysis by Type1.4.1 Global Solvent Recycling Technology Market Size Growth Rate by Type (2014–2025)1.4.2 On-site Solvent Recycling1.4.3 Off-site Solvent Recycling1.5 Market by Application1.5.1 Global Solvent Recycling Technology Market Share by Application (2014–2025)1.5.2 Chemical1.5.3 Pharmaceutical1.5.4 Other1.6 Study Objectives1.7 Years Considered2 Global Growth Trends2.1 Solvent Recycling Technology Market Size2.2 Solvent Recycling Technology Growth Trends by Regions2.2.1 Solvent Recycling Technology Market Size by Regions (2014–2025)2.2.2 Solvent Recycling Technology Market Share by Regions (2014–2019)2.3 Industry Trends2.3.1 Market Top Trends2.3.2 Market Drivers2.3.3 Market Opportunities3 Market Share by Key Players3.1 Solvent Recycling Technology Market Size by Manufacturers3.1.1 Global Solvent Recycling Technology Revenue by Manufacturers (2014–2019)3.1.2 Global Solvent Recycling Technology Revenue Market Share by Manufacturers (2014–2019)3.1.3 Global Solvent Recycling Technology Market Concentration Ratio (CR5 and HHI)CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
