Global Microplastic Recycling Market is valued approximately at USD 267 Million in 2023 and is anticipated to grow with a healthy growth rate of more than 7.21% over the forecast period 2024-2032. Microplastics are tiny plastic particles measuring less than 5 millimeters in size, and they can be derived from a range of sources, including single-use plastics, industrial waste, and plastic debris. As governments implement stringent policies and regulations pertaining to plastic waste management, the demand for microplastic recycling solutions is expected to rise. Additionally, increasing awareness about the environmental impact of plastics and the urgent need for sustainable practices are likely to fuel the expansion of the microplastic recycling market. The transition towards a circular economy, which aims to minimize waste and maximize the reuse and recycling of materials, is driving efforts to close the loop on plastic waste. Microplastic recycling plays a crucial role in this transition by diverting plastic waste from landfills and oceans and reintroducing it into the production cycle as secondary raw materials.
The implementation of global regulations by various governments to reduce plastic waste is anticipated to generate increased demand for microplastic recycling. The EU Circular Economy Package is designed to facilitate the shift towards a sustainable and resource-efficient economy that is both sustainable and resource-efficient. Within this framework, the recycling of microplastics plays a crucial role. The Microplastic Recycling market is anticipated to experience significant growth due to extensive research and development efforts focused on microplastic recycling, as well as the growing utilization of microplastics in various industries. These industries include packaging, agriculture, consumer goods, textiles, and automotive & transportation. However, challenges in separating and identifying microplastics from complex waste streams, as well as the need for advanced technologies and infrastructure for efficient and cost-effective recycling processes, on the other hand, will stifle market growth between 2022 and 2032.
The key regions considered for the global Microplastic Recycling market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Europe dominated the global market as the European Union enforced stringent measures and regulations concerning the utilization of single-use plastics as well as the management of waste and various manufacturers in Europe are actively advocating for the recycling of microplastics. Moreover, Asia Pacific is projected to register fastest growth in the projected period.
Major market player included in this report are:
- Wacker Chemie AG
- BASF SE
- The Dow Chemical Company
- Dupont de Nemours, Inc.
- Evonik Industries AG
- Solvay SA
- Arkema SA
- Cabot Corporation
- Akzo Nobel N.V.
- PolyOne Corporation
The detailed segments and sub-segment of the market are explained below:
By Product Type
- Primary Microplastics
- Secondary Microplastics
By End-use
- Personal Care
- Packaging
- Construction
- Automotive
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1.Global Microplastic Recycling Market Definition and Research Assumptions
- 1.1.Research Objective
- 1.2.Market Definition
- 1.3.Research Assumptions
- 1.3.1.Inclusion & Exclusion
- 1.3.2.Limitations
- 1.3.3.Supply Side Analysis
- 1.3.3.1.Availability
- 1.3.3.2.Infrastructure
- 1.3.3.3.Regulatory Environment
- 1.3.3.4.Market Competition
- 1.3.3.5.Economic Viability (Consumer's Perspective)
- 1.3.4.Demand Side Analysis
- 1.3.4.1.Regulatory frameworks
- 1.3.4.2.Technological Advancements
- 1.3.4.3.Environmental Considerations
- 1.3.4.4.Consumer Awareness & Acceptance
- 1.4.Estimation Methodology
- 1.5.Years Considered for the Study
- 1.6.Currency Conversion Rates
Chapter 2.Executive Summary
- 2.1.Global Microplastic Recycling Market Size & Forecast (2022- 2032)
- 2.2.Regional Summary
- 2.3.Segmental Summary
- 2.3.1.By Product Type
- 2.3.2.By End-use
- 2.4.Key Trends
- 2.5.Recession Impact
- 2.6.Analyst Recommendation & Conclusion
Chapter 3.Global Microplastic Recycling Market Dynamics
- 3.1.Market Drivers
- 3.2.Market Challenges
- 3.3.Market Opportunities
Chapter 4.Global Microplastic Recycling Market: Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.1.6.Futuristic Approach to Porter's 5 Force Model
- 4.1.7.Porter's 5 Force Impact Analysis
- 4.2.PESTEL Analysis
- 4.2.1.Political
- 4.2.2.Economic
- 4.2.3.Social
- 4.2.4.Technological
- 4.2.5.Environmental
- 4.2.6.Legal
- 4.3.Top investment opportunity
- 4.4.Top winning strategies
- 4.5.Disruptive Trends
- 4.6.Industry Expert Perspective
- 4.7.Analyst Recommendation & Conclusion
Chapter 5.Global Microplastic Recycling Market Size & Forecasts by Product Type 2022-2032
- 5.1.Primary Microplastics
- 5.2.Secondary Microplastics
Chapter 6.Global Microplastic Recycling Market Size & Forecasts by End-use 2022-2032
- 6.1.Personal Care
- 6.2.Packaging
- 6.3.Construction
- 6.4.Automotive
- 6.5.Others
Chapter 7.Global Microplastic Recycling Market Size & Forecasts by Region 2022-2032
- 7.1.North America Microplastic Recycling Market
- 7.1.1.U.S. Microplastic Recycling Market
- 7.1.1.1. Product Type breakdown size & forecasts, 2022-2032
- 7.1.1.2.End-use breakdown size & forecasts, 2022-2032
- 7.1.2.Canada Microplastic Recycling Market
- 7.2.Europe Microplastic Recycling Market
- 7.2.1.U.K. Microplastic Recycling Market
- 7.2.2.Germany Microplastic Recycling Market
- 7.2.3.France Microplastic Recycling Market
- 7.2.4.Spain Microplastic Recycling Market
- 7.2.5.Italy Microplastic Recycling Market
- 7.2.6.Rest of Europe Microplastic Recycling Market
- 7.3.Asia-Pacific Microplastic Recycling Market
- 7.3.1.China Microplastic Recycling Market
- 7.3.2.India Microplastic Recycling Market
- 7.3.3.Japan Microplastic Recycling Market
- 7.3.4.Australia Microplastic Recycling Market
- 7.3.5.South Korea Microplastic Recycling Market
- 7.3.6.Rest of Asia Pacific Microplastic Recycling Market
- 7.4.Latin America Microplastic Recycling Market
- 7.4.1.Brazil Microplastic Recycling Market
- 7.4.2.Mexico Microplastic Recycling Market
- 7.4.3.Rest of Latin America Microplastic Recycling Market
- 7.5.Middle East & Africa Microplastic Recycling Market
- 7.5.1. Saudi Arabia Microplastic Recycling Market
- 7.5.2. South Africa Microplastic Recycling Market
- 7.5.3.Rest of Middle East & Africa Microplastic Recycling Market
Chapter 8.Competitive Intelligence
- 8.1.Key Company SWOT Analysis
- 8.2.Top Market Strategies
- 8.3.Company Profiles
- 8.3.1. Wacker Chemie AG
- 8.3.1.1.Key Information
- 8.3.1.2.Overview
- 8.3.1.3.Financial (Subject to Data Availability)
- 8.3.1.4.Product Summary
- 8.3.1.5.Market Strategies
- 8.3.2. BASF SE
- 8.3.3.The Dow Chemical Company
- 8.3.4.Dupont de Nemours, Inc.
- 8.3.5.Evonik Industries AG
- 8.3.6.Solvay SA
- 8.3.7.Arkema SA
- 8.3.8.Cabot Corporation
- 8.3.9.Akzo Nobel N.V.
- 8.3.10.PolyOne Corporation
Chapter 9.Research Process
- 9.1.Research Process
- 9.1.1.Data Mining
- 9.1.2.Analysis
- 9.1.3.Market Estimation
- 9.1.4.Validation
- 9.1.5.Publishing
- 9.2.Research Attributes