Circular Polymer Market By Polymer Type (Polypropylene (PP), Polyethylene (PE), Polyethylene Terephthalate (PET), Polyamide (PA), Polyvinyl Chloride (PVC), Others); By Form (Flakes, Pellets); By Application (Adhesives & Sealants, Wires & Cables, Food Packaging, Interior & Exterior Components, Others); By End-Use (Building & Construction, Packaging, Electrical & Electronics, Automotive, Others); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The circular polymer market in 2023 was worth USD 72.15 billion and is expected to be worth USD 159.79 billion by 2030, expanding at a CAGR of 10.45% during the forecast period.

 

The circular polymer market is driven by the rising demand for an environmentally sustainable and low on plastics world. More than 8 million tonnes of plastics are thrown into oceans yearly, and therefore, there is increased demand for circular polymers that are generated through the recycling of plastics. This has led governments and companies to set targets to reduce their use of virgin plastics and advance towards a circular economy. Similarly, in Europe, the EU recently planned to recycle 55% of plastic packaging waste by the year 2030, which spurred the use of circular polymers.

 

Recent developments include global players such as Unilever and Coca-Cola using circular polymers in their packaging systems as part of sustainable packaging solutions. BASF has also bet on technologies reusing post-consumer plastic waste to produce virgin-like circular polymers. Such trends are widespread in the packaging, automotive, and consumer goods industries since organizations work to fulfill Greetings for finding the appropriate regulations and consumers’ desires for environmentally friendly products.

This market is extensive and promising due to the current global trend of circularity and the increasing use of recycling technologies in various industries. The global market for recycled plastics is projected to grow by 40% in the next 10 years, and the supply chains are looking for circular polymers to replace virgin plastic and meet their sustainable objectives.

 

For instance, Nestlé recently wanted to ensure they have 100% recycled or reusable packaging by 2025, thus creating demand for polymers that are circular. Another emergent issue involves making circular polymers from recycled plastics for consumer goods by Dow through the partnership with Fuenix Ecogy. The cyclic polymers opportunity is very large and especially so since industries such as packaging and automotive are increasingly turning to green options as they face tighter environmental laws.

 

 

Market Segmentation

Polymer Type Outlook

• Polypropylene (PP)

• Polyethylene (PE)

• Polyethylene Terephthalate (PET)

• Polyamide (PA)

• Polyvinyl Chloride (PVC)

• Others

 

Form Outlook

• Flakes

• Pellets

 

Application Outlook

• Adhesives & sealants

• Wires & cables

• Food packaging

• Interior & exterior components

• Others

 

End-use Outlook

• Building & construction

• Packaging

• Electrical & electronics

• Automotive

• Others

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis for the Circular Polymer Market

By Polymer Type:

Leading Segment: Polypropylene (PP)

Polypropylene dominates the market with over 30% market share due to its versatility & widespread use in packaging, textiles & automotive components. Its recyclability & cost-efficiency make it the preferred choice for industries transitioning to circular polymer solutions. For instance, Unilever uses recycled PP in its packaging, reducing environmental impact. The segment is projected to expand at a CAGR of 8.5% over the forecast period.

Fastest-Growing Segment: Polyethylene Terephthalate (PET)

PET is growing at a CAGR of 10%, driven by its high recyclability and demand in food and beverage packaging. Companies like Coca-Cola use 100% recycled PET in their bottles under initiatives like the World Without Waste campaign. The shift towards sustainable packaging propels PET's robust growth in the circular polymer market.

 

By Form:

Leading Segment: Pellets

Pellets hold a significant market share of 60% due to their ease of use in manufacturing processes, especially in injection molding & extrusion. They are widely adopted in industries such as automotive & packaging. For example, LyondellBasell produces high-quality recycled polymer pellets for automotive parts, ensuring durability & sustainability.

Fastest-Growing Segment: Flakes

Flakes are the fastest-growing segment, with a CAGR of 11%, as they are a primary input for creating recycled polymers. They are extensively used in producing fibers for textiles and secondary packaging. Startups like Banyan Nation in India are leveraging flakes to create high-quality recycled polymers for the packaging industry.

 

By Application:

Leading Segment: Food Packaging

Food packaging accounts for over 35% of the market share, driven by strict regulations & consumer demand for sustainable materials. Circular polymers, such as recycled PET & PE, are widely used by companies like Nestlé for packaging solutions. This segment is expected to grow at a CAGR of 9% as sustainability becomes a critical focus in the food industry.

Fastest-Growing Segment: Wires & Cables

The wires and cables segment is growing at a CAGR of 12%, fueled by increasing investments in infrastructure and renewable energy projects. Circular polymers like PVC create insulation and sheathing materials for cables. Companies like Prysmian Group are adopting recycled polymers to meet sustainability goals in their electrical product lines.

 

By End-Use:

Leading Segment: Packaging

Packaging is the largest end-use segment, commanding nearly 40% of the market share. The demand for sustainable packaging materials drives the adoption of circular polymers, especially in the FMCG & e-commerce sectors. For instance, Amazon has incorporated circular polymer-based recyclable packaging materials in its operations.

Fastest-Growing Segment: Automotive

The automotive sector is witnessing the fastest growth, with a CAGR of 13%, as manufacturers increasingly use circular polymers for interior & exterior components. Companies like BMW & Volvo use recycled PP & PET in their vehicle designs that align with their sustainability objectives.

 

By Region:

Leading Region: Europe

Europe holds over 40% of the market share due to strict environmental regulations & initiatives such as the European Green Deal. Countries like Germany & France are leading in circular polymer adoption, with companies like BASF investing in advanced recycling technologies.

Fastest-Growing Region: Asia Pacific

APAC is the fastest-growing region projected to expand with a CAGR of 14%, driven by rapid industrialization & government policies promoting recycling. China and India are key markets where industries like packaging and automotive are adopting circular polymers. For example, China's National Sword Policy has accelerated domestic recycling and circular polymer production investments.

 

Key Players

• SABIC

• BASF SE

• Dow Inc.

• Eastman Chemical Company

• LyondellBasell Industries

• Neste

• Borealis AG

• Veolia

• Loop Industries

• Plastic Energy

 

Circular Polymer Market Report Coverage

Report Attribute	Details
Forecast Period	2024 – 2032
Market Size Value in 2023	USD 72.15 billion
Revenue Forecast in 2030	USD 159.79 billion
Overall Growth Rate	CAGR of 10.45%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2024 - 2032)
Segmentation	By Polymer Type, By Form, By Application, By End-Use, By Region
By Polymer Type	Polypropylene (PP), Polyethylene (PE), Polyethylene Terephthalate (PET), Polyamide (PA), Polyvinyl Chloride (PVC), Others
By Form	Flakes, Pellets
By Application	Adhesives & Sealants, Wires & Cables, Food Packaging, Interior & Exterior Components, Others
By End-Use	Building & Construction, Packaging, Electrical & Electronics, Automotive, Others
By Region	North America, Europe, Asia-Pacific, LAMEA
Country Scope	US, Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Australia, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.