The report suggests that the market is expected to grow at a CAGR of 7.01% between 2022-2031
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Recyclable Thermoset Market – A Global and Regional Analysis.
According to this study, the global recyclable thermoset market was valued at $536.8 million in 2022 and is projected to reach $987.9 million by 2031, growing at a staggering CAGR of 7.01%.
The following factors are responsible for the increase in demand for recyclable thermoset:
- Advancement in thermoset recycling technologies globally
- Regulations promoting plastic recycling in various countries
- Investments and collaboration in plastic recycling industry
The detailed study is a compilation of 156 market data tables and 67 figures spread through 260 pages.
Check out the detailed table of content here:
Analyst’s Take on the Market Projection
According to Pooja Tanna, Lead Analyst, BIS Research, “Increasing awareness about the circular economy and environmental concerns is driving the development of more sustainable ways in the recycling of plastics. Although thermoset is a hard-to-recycle plastic, the adoption of this advanced recycling technology is limited to developed regions. The recyclable thermoset market is expected to witness a significant boost owing to the increasing focus of various countries and companies toward sustainability. Chemical recycling can be the best option for recycling thermosets, but the commercialization of these processes is limited due to its high cost when compared to virgin materials.”
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Major Existing Industry Leaders in the Global Recyclable Thermoset Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are:
- Mallinda Inc.
- MCR Mixt Composites Recyclables
- INTCO Recycling Group
- Adesso Advanced Materials Inc.
- Aditya Birla Chemicals
- GAIKER Technology Center
- Mobius Technologies GmbH
- The Dow Chemical Company
- BASF SE
- ENSO Plastics
- EcoActiv Pty Ltd
- SPERO RENEWABLES
- Northstar Recycling Company, Inc.
- Gr3n Recycling
Recent Developments in the Global Recyclable Thermoset Market
- In November 2022, the Dow Chemical Company collaborated with WM to improve the status of hard-to-recycle plastic films. The collaboration would allow WM to divert nearly 120,000 metric tons of plastic waste from landfills.
- In June 2022, PuriCycle is a new series of enhanced high-performance products from BASF SE for the purification of the most complex mixed plastic pyrolysis feeds.
- In June 2022, the Dow Chemical Company expanded its project REFLEX initiative in Guinea and Egypt after the successful pilot phase in Nigeria. With this, the company aims to divert 10,000 metric tons of flexible packaging waste by the end of 2025.
Want to learn more about the latest trends in high-performance plastics? Speak to our analysts
Exclusive Deeptech M-A-P™ in Advance Materials by BIS Research:
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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