Europe Chemical Recycling Of Plastics Market Size & Outlook
Europe chemical recycling of plastics market, 2018-2030 (US$M)
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Europe chemical recycling of plastics market highlights
- The Europe chemical recycling of plastics market generated a revenue of USD 3,439.5 million in 2023.
- The market is expected to grow at a CAGR of 5% 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.
- Country-wise, Denmark is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 3,439.5 million |
| Market revenue in 2030 | USD 4,848.4 million |
| Growth rate | 5% (CAGR from 2023 to 2030) |
| Largest segment | Depolymerization |
| Fastest growing segment | Depolymerization |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Europe region accounted for 26.2% of the global chemical recycling of plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,440.7 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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Europe 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 45.05% in 2023. Horizon Databook has segmented the Europe chemical recycling of plastics market based on depolymerization, dissolution, conversion covering the revenue growth of each sub-segment from 2018 to 2030.
According to the European Commission, the region generates around 530 kg of municipal waste per person, out of which about 50% of the municipal waste is recycled or composted and 23% is landfilled. Plastic recycling rate is less than 40% in Europe compared to recycling rates of other materials, such as cardboard, paper, and metal.
In September 2021, the European Union set a mandatory target of 30% for recycled content in plastic packaging by 2030. The Packaging and Packaging Waste Directive (PPWD) legislation sets a target of 55% of plastic waste recycled by 2030. However, the region is struggling with achieving the targeted recycling rate.
The major reason for the low recycling rate is the underdeveloped plastic recycling infrastructure in most European countries, resulting in increased exports of plastic waste to Asia Pacific. However, in November 2023, the European Parliament and Council of the EU reached an agreement on waste shipments, wherein the European Union is expected to prohibit the shipment of plastic waste exports.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe chemical recycling of plastics market , including forecasts for subscribers. This continent databook contains high-level insights into Europe chemical recycling of plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe chemical recycling of plastics market size, by country, 2018-2030 (US$M)
Europe Chemical Recycling Of Plastics Market Outlook Share, 2023 & 2030 (US$M)
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