Product Code: GVR-4-68039-971-8
Solvent-based Plastic Recycling Market Growth & Trends:
The global solvent-based plastic recycling market size is expected to reach USD 965.10 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 6.4% from 2024 to 2030. Growing consumption of plastics has resulted in growing plastic waste which because of improper plastic waste management has become a global crisis. Solvent-based recycling of plastic waste is one of the innovative ways to solve this crisis. To remove impurities a selective solvent dissolution process is used to recover plastics of minimum standards suitable for reuse.
Solvent-based processes can be useful in recycling plastics that are currently non-recyclable. Multilayer plastic materials are being used in many applications like electrical and electronic industries, and food and medical packaging. Globally about 100 million tons of multilayer plastics containing as many as twelve layers of varying polymers are produced each year. As recycling multilayer plastics is difficult almost all of that plastic ends up in landfills or incinerators. Solvent-based recycling can help solve this crisis by recycling multilayer plastics.
Some of the major companies in the solved-based recycling industry include Proctor & Gamble, APK AG, and Fraunhofer. Companies are resorting to collaborations and establishing new recycling plants to capture the market. For example, In August 2021, PureCycle Technologies signed an agreement with SK Global Chemical to set up a polypropylene (PP) recycling plant in South Korea. Also, major universities are actively researching to find novel methods of solvent recycling.
For example, scientists at the University of Wisconsin-Madison (UW-Madison) have discovered a method called Solvent-Targeted Recovery and Precipitation (STRAP) processing for extracting the plastics in multilayer plastics using solvents. In this process, polymers in a commercial multilayer plastic such as polyethylene, polyethylene terephthalate (PET), and ethylene vinyl alcohol by using a sequence of solvent washes.
Solvent-based Plastic Recycling Market Report Highlights:
- The polystyrene product segment led the market with a revenue share of more than 47.05% in 2023 and is expected to maintain a healthy growth rate over the forecast period
- Stringent regulations regarding single-use plastic ban across regions including Europe, North America, and Asia, are expected to fuel the growth of the industry
- The growing demand for packaging and electrical & electronic products along with rising environmental concerns is expected to drive the demand for solvent-based plastic recycling in the electrical & electronics application segment
- The packaging application led with the largest revenue share of more than 38.73% in 2023. Increasing applications of plastics in food, medical and protective packaging are expected to drive the segment during the forecast period
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
Chapter 2. Executive Summary
- 2.1. Market summary
- 2.2. Segmental Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Raw Material Trends
- 3.3.2. Manufacturing Trends
- 3.4. Technology Overview
- 3.5. Regulatory Framework
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry Analysis - Porter's
- 3.7.1.1. Supplier Power
- 3.7.1.2. Buyer Power
- 3.7.1.3. Substitution Threat
- 3.7.1.4. Threat from New Entrant
- 3.7.1.5. Competitive Rivalry
- 3.7.2. PESTEL Analysis
- 3.7.2.1. Political Landscape
- 3.7.2.2. Environmental Landscape
- 3.7.2.3. Social Landscape
- 3.7.2.4. Technology Landscape
- 3.7.2.5. Economic Landscape
- 3.7.2.6. Legal Landscape
Chapter 4. Solvent-based plastic recycling Market: Product Estimates & Trend Analysis
- 4.1. Product movement analysis & market share, 2023 - 2030
- 4.2. Polyethylene
- 4.2.1. Global solvent-based plastic recycling market, in polyethylene estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.3. Polyethylene Terephthalate
- 4.3.1. Global solvent-based plastic recycling market, in polyethylene terephthalate estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.4 Polypropylene
- 4.4.1. Global solvent-based plastic recycling market, in polypropylene estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.5 Polyvinyl Chloride
- 4.5.1. Global solvent-based plastic recycling market, in polyvinyl chloride estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.6 Polystyrene
- 4.6.1. Global solvent-based plastic recycling market, in polystyrene estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.7 Others
- 4.7.1. Global solvent-based plastic recycling market, in others estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Solvent-based plastic recycling Market: Application Estimates & Trend Analysis
- 5.1. Application movement analysis & market share, 2023 - 2030
- 5.2. Building & Construction
- 5.2.1. Global solvent-based plastic recycling market, in building & construction estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.3. Packaging
- 5.3.1. Global solvent-based plastic recycling market, in packaging estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Electrical & Electronics
- 5.4.1. Global solvent-based plastic recycling market, in electrical & electronics estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Textiles
- 5.5.1. Global solvent-based plastic recycling market, in textiles estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.6. Automotive
- 5.6.1. Global solvent-based plastic recycling market, in automotive estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.7. Others
- 5.7.1. Global solvent-based plastic recycling market, in others estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Solvent-based plastic recycling Market: Regional Estimates & Trend Analysis
- 6.1. Regional movement analysis & market share, 2023 - 2030
- 6.2. North America
- 6.2.1. North America solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2. North America solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.2.3. North America solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.4. North America solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.2.5. North America solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.2.5.1. U.S.
- 6.2.5.1.1. U.S. solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.1.2. U.S. solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.2.5.1.3. U.S. solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.5.1.4. U.S. solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.2.5.1.5. U.S. solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.2.5.2. Canada
- 6.2.5.2.1. Canada solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.2.2. Canada solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.2.5.2.3. Canada solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.5.2.4. Canada solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.2.5.2.5. Canada solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.2.5.3. Mexico
- 6.2.5.3.1. Mexico solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.3.2. Mexico solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.2.5.3.3. Mexico solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.5.3.4. Mexico solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.2.5.3.5. Mexico solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Europe solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.2. Europe solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.3.3. Europe solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.4. Europe solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.3.5. Europe solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.3.5.1. Germany
- 6.3.5.1.1. Germany solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.5.1.2. Germany solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.3.5.1.3. Germany solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.5.1.4. Germany solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.3.5.1.5. Germany solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.3.5.2. UK
- 6.3.5.2.1. U.K. solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.5.2.2. U.K. solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.3.5.2.3. U.K. solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.5.2.4. U.K. solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.3.5.2.5. U.K. solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.2. Asia Pacific solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.4.3. Asia Pacific solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.4. Asia Pacific solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.4.5. Asia Pacific solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.5.1. China
- 6.4.5.1.1. China solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.5.1.2. China solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.4.5.1.3. China solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.5.1.4. China solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.4.5.1.5. China solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.5.2. India
- 6.4.5.2.1. India solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.5.2.2. India solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.4.5.2.3. India solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.5.2.4. India solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.4.5.2.5. India solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.4.5.3. Japan
- 6.4.5.3.1. Japan solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.5.3.2. Japan solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.4.5.3.3. Japan solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.5.3.4. Japan solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.4.5.3.5. Japan solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.5. Central & South America
- 6.5.1. Central & South America solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.2. Central & South America solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.5.3. Central & South America solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.5.4. Central & South America solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.5.5. Central & South America solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Middle East & Africa solvent-based plastic recycling market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.2. Middle East & Africa solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (Kilotons)
- 6.6.3. Middle East & Africa solvent-based plastic recycling market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.6.4. Middle East & Africa solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (Kilotons)
- 6.6.5. Middle East & Africa solvent-based plastic recycling market estimates and forecasts, by application, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Key Global Players & Recent Developments & Their Impact on The Industry
- 7.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 7.3. Vendor Landscape
- 7.3.1. List of key Distributors and Channel Partners
- 7.3.2. Key Potential Customers
- 7.4. Public Companies
- 7.4.1. Company Market Position Analysis
- 7.4.2. Competitive Dashboard Analysis
- 7.5. Private Companies
- 7.5.1. List of Key Emerging Companies/Technology Disruptors/Innovators
- 7.5.2. Geographical Presence
Chapter 8. Company Profiles
- 8.1. Solvay
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Strategic Initiatives
- 8.2. Sulzer Ltd
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Strategic Initiatives
- 8.3. Trinseo
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Strategic Initiatives
- 8.4. APK AG
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Strategic Initiatives
- 8.5. Fraunhofer
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Strategic Initiatives
- 8.6. PolystyreneLoop
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Strategic Initiatives
- 8.7. PureCycle Technologies Inc
- 8.7.1. Company overview
- 8.7.2. Financial performance
- 8.7.3. Product benchmarking
- 8.7.4. Strategic Initiatives
- 8.8. Saperatec GmbH
- 8.8.1. Company overview
- 8.8.2. Financial performance
- 8.8.3. Product benchmarking
- 8.8.3.4 Strategic Initiatives