Introduction
Chemical recycling—also known as molecular or advanced recycling—converts plastic waste into its chemical building blocks via processes like depolymerization and dissolution. As per Stratview Research, the Chemical recycling of plastics market size was US$ 14.82 billion in 2023 and is projected to grow at a CAGR of 9.4%, reaching US$ 25.4 billion by 2030.

Key Features

• Depolymerization Leadership: The depolymerization process is dominant, offering efficient breakdown of a wide variety of plastics.
• Premium Output: Produces high-purity monomers or oligomers equivalent to virgin-grade polymers.
• Eco-Efficient: Chemical recycling generates lower greenhouse gas emissions than traditional plastic production.
• Circular-Economy Integration: Helps close the loop on mixed or contaminated plastics that are otherwise hard to recycle.

Applications

• Packaging: The fastest-growing end-use, driven by demand for sustainable, recycled-content packaging.
• Automotive: Recycled polymers are used to manufacture automotive components, reducing reliance on virgin plastics.

Trends

• Regulatory Pressure Growing: Stringent environmental policies and circular economy mandates are pushing advanced recycling adoption.
• Asia-Pacific Expansion: The Asia-Pacific region is expected to remain the largest market, led by industrial demand from China, India, and Southeast Asian countries.
• Strategic Industry Partnerships: Collaborations between chemical companies, waste managers, and brands are accelerating deployment of advanced recycling technologies.

Opportunities

• Scale-up of Depolymerization Plants: Increasing capacity can unlock greater volumes of difficult-to-recycle plastics.
• Brand Collaboration: Consumer-goods companies can source chemically recycled polymers to meet sustainability goals and reduce carbon footprint.
• Emerging Markets Growth: Countries in Asia with rising industrial activity and improving recycling infrastructure offer significant upside.
• Innovation Acceleration: Continued R&D in more efficient and cost-effective recycling technologies can improve economics and drive adoption.

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Conclusion
The chemical recycling of plastics market is on a strong growth trajectory, driven by depolymerization technology, environmental regulations, and a push toward circular materials. With the market expected to expand from US$ 14.82 billion in 2023 to US$ 25.4 billion by 2030, advanced recycling is poised to become a cornerstone of sustainable plastics management. Players investing in scale, partnerships, and innovation are well-positioned to lead in this evolving industry.