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(Transportation-News.com, February 21, 2025 ) Global Advanced Recycling Technologies Market reached US$ 269.8 million in 2022 and is expected to reach US$ 6,381.0 million by 2031, growing with a CAGR of 48.5% during the forecast period 2024-2031.
Market Dynamics
Growing Investment in the Recycling Sector
Increasing investments in the recycling sector are driving the expansion of operations, enabling the construction of larger, more efficient facilities equipped with cutting-edge technologies. These advancements enhance processing capacity, accelerating market growth and sustainability efforts.
A notable example is the investment by Amcor Packaging and Mondelez International in Licella, an Australian advanced recycling technology startup. On August 11, 2023, these companies announced funding for the construction of an advanced recycling facility in Victoria, Australia. The 'Advanced Recycling Victoria' plant will utilize Licella’s Catalytic Hydrothermal Reactor, a state-of-the-art hydrothermal liquefaction technology that converts end-of-life plastics into reusable materials.
Initially, the facility will process 20,000 tons of plastic waste annually, with plans to expand its capacity to 120,000 tons per year in the future. This investment supports Amcor’s goal of integrating 30% recycled content across its portfolio by 2030, aligning with the increasing demand for sustainable packaging solutions in the region.
With continued funding and technological advancements, the recycling sector is set for substantial growth, playing a critical role in global sustainability efforts.
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Market Segments
By Technology
• Pyrolysis / Cracking
• Gasification
• Depolymerization
• Others
By Process Output
• Naphtha*
• Heavy Gas Oil
• Wax Residue
By End-User
• Packaging*
• Building and Construction
• Consumer Electronics
• Automotive
• Healthcare
• Others
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Market Regional Share
Europe Leads in Advanced Recycling Technologies Amid Sustainability Push
Technological advancements are revolutionizing recycling, unlocking new efficiencies beyond human capabilities. As environmental concerns grow and industries shift toward sustainable practices, innovation in recycling technologies has become essential.
Europe has emerged as a global leader in advanced recycling technologies, driven by high recycling rates and strong regulatory frameworks. Countries like Germany and Slovenia have consistently excelled in waste management, far surpassing the 32% recycling rate observed in the United States (including composting), according to municipal solid waste surveys.
This leadership positions Europe as the dominant player in the global advanced recycling technologies market, with continued investments in cutting-edge processes further strengthening its role in driving sustainable solutions worldwide.
Market Key Players
Honeywell International Inc., Chevron Phillips Chemical Company LLC, Synova, Erema Group, Brightmark, Sierra International Machinery, Metso Outotec Corporation, Machinex Industries Inc., Vecoplan AG and Tomra Systems ASA.
Recent Developments
• On April 25, 2023, Cyclic Materials, a Kingston, Ontario-based advanced metals recycling company focused on producing critical minerals, has raised US$ 27 million in an oversubscribed Series.
• On December 24, 2022, ExxonMobil has announced the successful launch of one of North America's largest advanced recycling facilities. The plant, located at the company's integrated manufacturing complex in Baytown, Texas, employs patented technology to degrade difficult-to-recycle polymers and convert them into raw materials for new products. It can process more than 80 million pounds of plastic trash per year, promoting a circular economy for post-use plastics and diverting plastic waste from landfills.
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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