DUBLIN–(BUSINESS WIRE)–The “Solvent-Based Plastic Recycling Market Size, Share, and Trend Analysis Report by Product (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene), by Application, by Region and Forecast segments, 2022-2030″ report has been added to from ResearchAndMarkets.com offer.
The global solvent-based plastic recycling market size is expected to reach USD 965.10 million by 2030, according to this report. The market is expected to grow at a CAGR of 5.9% from 2022 to 2030.
The increasing consumption of plastics has led to an increase in plastic waste which, due to poor management of plastic waste, has become a global crisis. Recycling solvent-based plastic waste is one of the innovative ways to solve this crisis. To remove impurities, a selective solvent dissolution process is used to recover plastics to minimum standards suitable for reuse.
Solvent-based processes can be useful for recycling currently non-recyclable plastics. Multilayer plastic materials are used in many applications such as the electrical and electronics industries and food and medical packaging.
Globally, approximately 100 million tons of multilayer plastics containing up to twelve layers of different polymers are produced each year. Because recycling multi-layered plastics is difficult, almost all of this plastic ends up in landfills or incinerators. Solvent-based recycling can help solve this crisis by recycling multi-layered plastics.
Proctor & Gamble, APK AG and Fraunhofer are among the leading companies in the solution-based recycling industry. Companies are resorting to collaborations and establishing new recycling plants to capture the market. For example, in August 2021, PureCycle Technologies signed an agreement with SK Global Chemical to set up a polypropylene (PP) recycling plant in South Korea. In addition, major universities are actively researching new ways to recycle solvents.
For example, scientists at the University of Wisconsin-Madison (UW-Madison) have discovered a method called Solvent Targeted Recovery and Precipitation (STRAP) processing for extracting plastics in multi-layered plastics using solvents. In this process, polymers into a commercial multi-layer plastic such as polyethylene, polyethylene terephthalate (PET) and ethylene vinyl alcohol using a sequence of solvent washes.
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends and Scope
Chapter 4. Solvent-based Plastic Recycling Market: Product Estimates and Trend Analysis
Chapter 5. Solvent-Based Plastic Recycling Market: Application Estimates and Trend Analysis
Chapter 6. Solvent-Based Plastic Recycling Market: Regional Estimates and Trend Analysis
Chapter 7. Competitive Landscape
Chapter 8. Business Profiles
PureCycle Technologies Inc.
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