China Chemical Recycling Of Plastics Market Size & Outlook
China chemical recycling of plastics market, 2018-2030 (US$M)
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China chemical recycling of plastics market highlights
- The China chemical recycling of plastics market generated a revenue of USD 1,041.8 million in 2023 and is expected to reach USD 1,534.2 million by 2030.
- The China market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, depolymerization was the largest revenue generating type in 2023.
- Depolymerization is the most lucrative type segment registering the fastest growth during the forecast period.
Chemical recycling of plastics market data book summary
| Market revenue in 2023 | USD 1,041.8 million |
| Market revenue in 2030 | USD 1,534.2 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Depolymerization |
| Fastest growing segment | Depolymerization |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Depolymerization, Dissolution, Conversion |
| Key market players worldwide | Agilyx ASA Ordinary Shares, Basf SE, INEOS, Veolia Environnement SA, Eastman Chemical Co, SABIC, LyondellBasell Industries NV Class A, Maire Tecnimont, Recycling Technologies, JEPLAN |
Other key industry trends
- In terms of revenue, China accounted for 7.9% of the global chemical recycling of plastics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China chemical recycling of plastics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,534.2 million by 2030.
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Chemical Recycling Of Plastics Market Scope
Chemical Recycling Of Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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China chemical recycling of plastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to chemical recycling of plastics market will help companies and investors design strategic landscapes.
Depolymerization was the largest segment with a revenue share of 45.46% in 2023. Horizon Databook has segmented the China chemical recycling of plastics market based on depolymerization, dissolution, conversion covering the revenue growth of each sub-segment from 2018 to 2030.
China was the largest importer of plastic waste in the world before the introduction of ban in December 2018. However, citing environment and health concerns at the World Trade Organization in July 2017, the country announced that it is going to ban the import of 24 types of waste, 5 of which were different types of plastics.
This development has redirected plastic waste to Southeast Asian countries in huge quantities, which has compelled Chinese recyclers to relocate to Southeast Asia countries. Although China no longer imports plastic waste, there is a growing market demand for recycled plastics made of plastic waste.
As global brands focus on reducing the use of virgin plastic and increasing the consumption of recycled plastics, the demand for recycled plastics is soaring across the globe, which has also led to the establishment of chemical recycling plants in China.
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Horizon Databook provides a detailed overview of country-level data and insights on the China chemical recycling of plastics market , including forecasts for subscribers. This country databook contains high-level insights into China chemical recycling of plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China chemical recycling of plastics market size, by type, 2018-2030 (US$M)
China Chemical Recycling Of Plastics Market Outlook Share, 2023 & 2030 (US$M)
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