The Global Market for Advanced Chemical Recycling

Published: February 2024
Pages: 267
Tables: 58
Figures: 54
Companies profiled: 164
Series: Bio-Economy

Advanced recycling technologies that utilize heat or chemical solvents to recycle plastics into new plastics, fuels or chemicals are a key strategy for solving the global plastic problem, and are priority areas in government green initiatives. Advanced chemical recycling technologies are now being developed by more than 150 companies worldwide, and capacities are increasing. Companies including ExxonMobil, New Hope Energy, Nexus Circular, Eastman, Encina are planning to build large plastics recycling plants. As well as complementing traditional mechanical recycling, advanced recycling offers benefits such as widening the range of recyclable plastic options, producing high value plastics (e.g. for flexible food packaging) and improving sustainability (using waste rather than fossil fuels for plastics production).

The Global Market for Advanced Chemical Recycling 2024-2040 provides a comprehensive analysis of the global advanced chemical recycling technologies market. The report covers market drivers, trends, industry developments, capacities, polymer demand forecasts segmented by recycling technology, regional demand forecasts, product examples, value chain analysis, life cycle assessments, yields, pricing, and challenges. 160 companies active in advanced recycling technologies such as pyrolysis, gasification, dissolution, depolymerization, and more are profiled. Detailed technology overviews, SWOT analyses, and company capacity details are also provided.

Regional market demand forecasts are broken down by recycling technology for Europe, North America, South America, Asia, Oceania, and Africa. Polymer-specific demand forecasts are provided globally and by region for PE, PP, PET, PS, nylon and other polymers. The report analyses how virgin plastic production, mechanical recycling, pyrolysis, monomer recycling and other technologies will shape polymer demand.

The report provides unique insights into the market future, current capacities, life cycle assessments, products, and opportunities in advanced chemical recycling. It is designed for companies in the plastics value chain seeking detailed analysis on growth opportunities, partnerships, investment, positioning, and challenges.

Report contents include:

Overview of the global plastics and bioplastics markets.
Market drivers and trends.
Advanced chemical recycling industry news, funding and developments 2020-2023.
Capacities by technology.
Market maps and value chain.
In-depth analysis of advanced chemical recycling technologies.
Global polymer demand 2018-2040, segmented by technology, types and regions, million metric tons.
Global demand by recycling process, 2018-2040, million metric tons.
Advanced chemical recycling technologies covered include:
- Pyrolysis
- Gasification
- Dissolution
- Depolymerisation
- Emerging technologies.
Profiles of 164 companies. Companies profiled include Agilyx, APK AG, Aquafil, Carbios, Eastman, Extracthive, Fych Technologies, Garbo, gr3n SA, Hyundai Chemical Ioniqa, Itero, Licella, Mura Technology, revalyu Resources GmbH, Plastogaz SA, Plastic Energy, Polystyvert, Pyrowave, RePEaT Co., Ltd., Synova and SABIC (full list of companies profiled in table of contents).

Download table of contents (PDF)

1 CLASSIFICATION OF RECYCLING TECHNOLOGIES 15

2 RESEARCH METHODOLOGY 16

3 INTRODUCTION 17

3.1 Global production of plastics 17
3.2 The importance of plastic 18
3.3 Issues with plastics use 18
3.4 Bio-based or renewable plastics 19
- 3.4.1 Drop-in bio-based plastics 19
- 3.4.2 Novel bio-based plastics 20
3.5 Biodegradable and compostable plastics 21
- 3.5.1 Biodegradability 21
- 3.5.2 Compostability 22
3.6 Plastic pollution 22
3.7 Policy and regulations 23
3.8 The circular economy 24
3.9 Plastic recycling 26
- 3.9.1 Mechanical recycling 29
  - 3.9.1.1 Closed-loop mechanical recycling 29
  - 3.9.1.2 Open-loop mechanical recycling 29
  - 3.9.1.3 Polymer types, use, and recovery 30
- 3.9.2 Advanced recycling (molecular recycling, chemical recycling) 31
  - 3.9.2.1 Main streams of plastic waste 31
  - 3.9.2.2 Comparison of mechanical and advanced chemical recycling 32
3.10 Life cycle assessment 32

4 THE ADVANCED CHEMICAL RECYCLING MARKET 34

4.1 Market drivers and trends 34
4.2 Industry news, funding and developments 2020-2023 35
4.3 Capacities 44
4.4 Global polymer demand 2022-2040, segmented by recycling technology 47
- 4.4.1 PE 47
- 4.4.2 PP 48
- 4.4.3 PET 50
- 4.4.4 PS 51
- 4.4.5 Nylon 52
- 4.4.6 Others 54
4.5 Global polymer demand 2022-2040, segmented by recycling technology, by region 55
- 4.5.1 Europe 55
- 4.5.2 North America 57
- 4.5.3 South America 58
- 4.5.4 Asia 60
- 4.5.5 Oceania 61
- 4.5.6 Africa 63
4.6 Chemically recycled plastic products 65
4.7 Market map 67
4.8 Value chain 68
4.9 Life Cycle Assessments (LCA) of advanced plastics recycling processes 69
- 4.9.1 PE 70
- 4.9.2 PP 70
- 4.9.3 PET 71
4.10 Recycled plastic yield and cost 71
- 4.10.1 Plastic yield of each chemical recycling technologies 71
- 4.10.2 Prices 72
4.11 Market challenges 72

5 ADVANCED RECYCLING TECHNOLOGIES 74

5.1 Applications 74
5.2 Pyrolysis 75
- 5.2.1 Non-catalytic 76
- 5.2.2 Catalytic 77
  - 5.2.2.1 Polystyrene pyrolysis 79
  - 5.2.2.2 Pyrolysis for production of bio fuel 79
  - 5.2.2.3 Used tires pyrolysis 83
    - 5.2.2.3.1 Conversion to biofuel 84
  - 5.2.2.4 Co-pyrolysis of biomass and plastic wastes 85
- 5.2.3 SWOT analysis 86
- 5.2.4 Companies and capacities 87
5.3 Gasification 89
- 5.3.1 Technology overview 89
  - 5.3.1.1 Syngas conversion to methanol 90
  - 5.3.1.2 Biomass gasification and syngas fermentation 94
  - 5.3.1.3 Biomass gasification and syngas thermochemical conversion 94
- 5.3.2 SWOT analysis 95
- 5.3.3 Companies and capacities (current and planned) 96
5.4 Dissolution 97
- 5.4.1 Technology overview 97
- 5.4.2 SWOT analysis 98
- 5.4.3 Companies and capacities (current and planned) 99
5.5 Depolymerisation 100
- 5.5.1 Hydrolysis 102
  - 5.5.1.1 Technology overview 102
  - 5.5.1.2 SWOT analysis 103
- 5.5.2 Enzymolysis 104
  - 5.5.2.1 Technology overview 104
  - 5.5.2.2 SWOT analysis 105
- 5.5.3 Methanolysis 106
  - 5.5.3.1 Technology overview 106
  - 5.5.3.2 SWOT analysis 107
- 5.5.4 Glycolysis 108
  - 5.5.4.1 Technology overview 108
  - 5.5.4.2 SWOT analysis 110
- 5.5.5 Aminolysis 111
  - 5.5.5.1 Technology overview 111
  - 5.5.5.2 SWOT analysis 111
- 5.5.6 Companies and capacities (current and planned) 112
5.6 Other advanced chemical recycling technologies 113
- 5.6.1 Hydrothermal cracking 113
- 5.6.2 Pyrolysis with in-line reforming 114
- 5.6.3 Microwave-assisted pyrolysis 114
- 5.6.4 Plasma pyrolysis 115
- 5.6.5 Plasma gasification 116
- 5.6.6 Supercritical fluids 116
- 5.6.7 Carbon fiber recycling 117
  - 5.6.7.1 Processes 117
  - 5.6.7.2 Companies 120

6 COMPANY PROFILES 121

6.1 Aduro Clean Technologies, Inc. 121
6.2 Agilyx 122
6.3 Alpha Recyclage Composites 123
6.4 Alterra Energy 124
6.5 Ambercycle, Inc. 124
6.6 Anellotech, Inc. 125
6.7 Anhui Oursun Resource Technology Co., Ltd 126
6.8 APChemi Pvt. Ltd. 127
6.9 APK AG 128
6.10 Aquafil S.p.A. 129
6.11 ARCUS Greencycling GmbH 130
6.12 Arkema 130
6.13 Axens SA 131
6.14 BASF 132
6.15 Bcircular 134
6.16 BioBTX B.V. 135
6.17 Biofabrik Technologies GmbH 135
6.18 Blest (Microengineer Co., Ltd.) 136
6.19 Blue Cycle 137
6.20 BlueAlp Technology 137
6.21 Borealis AG 138
6.22 Boston Materials LLC 139
6.23 Braven Environmental, LLC 140
6.24 Brightmark 141
6.25 Cadel Deinking S.L. 142
6.26 Carbios 142
6.27 Carboliq GmbH 143
6.28 Carbon Fiber Recycling LLC 144
6.29 Cassandra Oil AB 145
6.30 CIRC 146
6.31 Chian Tianying 147
6.32 Chevron Phillips Chemical 147
6.33 Clariter 148
6.34 Clean Planet Energy 149
6.35 Corsair Group International 150
6.36 Covestro 151
6.37 CreaCycle GmbH 151
6.38 CuRe Technology BV 152
6.39 Cyclic Materials 154
6.40 DePoly SA 154
6.41 Dow Chemical Company 155
6.42 DyeRecycle 156
6.43 Eastman Chemical Company 157
6.44 Eco Fuel Technology, Inc 158
6.45 Ecopek S.A. 159
6.46 Eeden GmbH 160
6.47 Emery Oleochemicals 160
6.48 Encina Development Group, LLC 161
6.49 Enerkem, Inc. 161
6.50 Enval Ltd. 163
6.51 Environmental Solutions (Asia) Pte Ltd 164
6.52 Epoch Biodesign 164
6.53 Equipolymers GmbH 165
6.54 Evonik Industries AG 165
6.55 Evrnu 166
6.56 Extracthive 167
6.57 ExxonMobil 168
6.58 Fairmat 168
6.59 Fulcrum BioEnergy 169
6.60 Futerro 170
6.61 Fych Technologies 171
6.62 Garbo S.r.l. 172
6.63 GreenMantra Technologies 172
6.64 Gr3n SA 173
6.65 Handerek Technologies 174
6.66 Hanwha Solutions 175
6.67 Honeywell 176
6.68 Hyundai Chemical 177
6.69 Indaver nv 177
6.70 InEnTec, Inc. 178
6.71 INEOS Styrolution 179
6.72 Infinited Fiber Company Oy 180
6.73 Ioncell Oy 181
6.74 Ioniqa Technologies B.V. 181
6.75 Itero Technologies 182
6.76 Jeplan, Inc. 183
6.77 JFE Chemical Corporation 184
6.78 Kaneka Corporation 185
6.79 Khepra 185
6.80 Klean Industries 186
6.81 Lanzatech 187
6.82 Licella 189
6.83 Loop Industries, Inc. 190
6.84 LOTTE Chemical 191
6.85 Lummus Technology LLC 192
6.86 LyondellBasell Industries Holdings B.V. 192
6.87 Metaspectral 194
6.88 Mint Innovation 195
6.89 Microwave Chemical Co. Ltd. 196
6.90 Mitsubishi Chemical 197
6.91 MolyWorks Materials 198
6.92 Mote, Inc. 199
6.93 Mura Technology 199
6.94 Nanya Plastics Corporation 201
6.95 NatureWorks 201
6.96 Neste Oyj 202
6.97 New Hope Energy 203
6.98 Nexus Circular LLC 204
6.99 Next Generation Group (NGR) 205
6.100 Novoloop 206
6.101 Olefy Technologies 207
6.102 OMV AG 207
6.103 Orlen Unipetrol Rpa S.r.o. 209
6.104 Österreichische Mineralölverwaltung (OMV) 209
6.105 PETRONAS Chemicals Group Berhad 210
6.106 Plastic Back 211
6.107 Plastic Energy Limited 212
6.108 Plastic2Oil, Inc. 213
6.109 Plastogaz SA 214
6.110 Poliloop 215
6.111 Polycycl 215
6.112 Polynate 216
6.113 PolyStyreneLoop 216
6.114 Polystyvert, Inc. 217
6.115 Poseidon Plastics 218
6.116 Premirr Plastics, Inc. 218
6.117 Protein Evolution 219
6.118 Pryme BV 220
6.119 PureCycle Technologies 221
6.120 Pyrowave 222
6.121 Qairos Energies 223
6.122 QuantaFuel ASA 223
6.123 Recenso GmbH 224
6.124 Recyc’ELIT 225
6.125 ReNew ELP 226
6.126 Re:newcell 227
6.127 Renew One 228
6.128 RePEaT Co., Ltd. 228
6.129 Repsol 229
6.130 Resiclo Oy 230
6.131 revalyu Resources GmbH 231
6.132 ReVital Polymers, Inc. 232
6.133 Rittec Umwelttechnik GmbH 232
6.134 Sabic 233
6.135 Samsara Eco Pty Ltd. 234
6.136 Saperatec GmbH 235
6.137 Scindo 236
6.138 SCG Chemicals 236
6.139 Sekisui Chemical Co., Ltd. 237
6.140 Shell 238
6.141 Showa Denko K.K. 239
6.142 Shuye Environmental Technology 240
6.143 Sierra Energy 240
6.144 SK Geo Centric (SKGC) 241
6.145 SK Global Chemical Co., Ltd. 241
6.146 Sulzer Chemtech AG 242
6.147 Sumitomo Chemical 243
6.148 Sweet Gazoil 244
6.149 Synova 245
6.150 Synpet Technologies 246
6.151 Technisoil Industrial 247
6.152 Teijin Frontier Co., Ltd. 248
6.153 TotalEnergies 249
6.154 Toyo Styrene Co., Ltd. 250
6.155 Trinseo 251
6.156 Triple Helix 252
6.157 Uflex 252
6.158 Valoren 253
6.159 Vartega Inc. 253
6.160 Velocys 254
6.161 Versalis SpA 255
6.162 Wastefront 257
6.163 Worn Again Technologies 257
6.164 Xycle 258

7 GLOSSARY OF TERMS 260

8 REFERENCES 262

List of Tables

Table 1. Types of recycling. 15
Table 2. Issues related to the use of plastics. 18
Table 3. Type of biodegradation. 22
Table 4. Overview of the recycling technologies. 28
Table 5. Polymer types, use, and recovery. 30
Table 6. Composition of plastic waste streams. 31
Table 7. Comparison of mechanical and advanced chemical recycling. 32
Table 8. Life cycle assessment of virgin plastic production, mechanical recycling and chemical recycling. 32
Table 9. Life cycle assessment of chemical recycling technologies (pyrolysis, gasification, depolymerization and dissolution). 33
Table 10. Market drivers and trends in the advanced chemical recycling market. 34
Table 11. Advanced chemical recycling industry news, funding and developments 2020-2023. 35
Table 12. Advanced plastics recycling capacities, by technology. 44
Table 13. Global polymer demand 2022-2040, segmented by recycling technology for PE (million tonnes). 47
Table 14. Global polymer demand 2022-2040, segmented by recycling technology for PP (million tonnes). 48
Table 15. Global polymer demand 2022-2040, segmented by recycling technology for PET (million tonnes). 50
Table 16. Global polymer demand 2022-2040, segmented by recycling technology for PS (million tonnes). 51
Table 17. Global polymer demand 2022-2040, segmented by recycling technology for Nylon (million tonnes). 52
Table 18. Global polymer demand 2022-2040, segmented by recycling technology for Other types (million tonnes).* 54
Table 19. Global polymer demand in Europe, by recycling technology 2022-2040 (million tonnes). 55
Table 20. Global polymer demand in North America, by recycling technology 2022-2040 (million tonnes). 57
Table 21. Global polymer demand in South America, by recycling technology 2022-2040 (million tonnes). 58
Table 22. Global polymer demand in Asia, by recycling technology 2022-2040 (million tonnes). 60
Table 23. Global polymer demand in Oceania, by recycling technology 2022-2040 (million tonnes). 61
Table 24. Global polymer demand in Africa, by recycling technology 2022-2040 (million tonnes). 63
Table 25. Example chemically recycled plastic products. 65
Table 26. Life Cycle Assessments (LCA) of Advanced Chemical Recycling Processes. 69
Table 27. Life cycle assessment of mechanically versus chemically recycling polyethylene (PE). 70
Table 28. Life cycle assessment of mechanically versus chemically recycling polypropylene (PP). 70
Table 29. Life cycle assessment of mechanically versus chemically recycling polyethylene terephthalate (PET). 71
Table 30. Plastic yield of each chemical recycling technologies. 71
Table 31. Chemically recycled plastics prices in USD. 72
Table 32. Challenges in the advanced chemical recycling market. 72
Table 33. Applications of chemically recycled materials. 74
Table 34. Summary of non-catalytic pyrolysis technologies. 76
Table 35. Summary of catalytic pyrolysis technologies. 77
Table 36. Summary of pyrolysis technique under different operating conditions. 81
Table 37. Biomass materials and their bio-oil yield. 82
Table 38. Biofuel production cost from the biomass pyrolysis process. 83
Table 39. Pyrolysis companies and plant capacities, current and planned. 87
Table 40. Summary of gasification technologies. 89
Table 41. Advanced recycling (Gasification) companies. 96
Table 42. Summary of dissolution technologies. 97
Table 43. Advanced recycling (Dissolution) companies 99
Table 44. Depolymerisation processes for PET, PU, PC and PA, products and yields. 101
Table 45. Summary of hydrolysis technologies-feedstocks, process, outputs, commercial maturity and technology developers. 102
Table 46. Summary of Enzymolysis technologies-feedstocks, process, outputs, commercial maturity and technology developers. 104
Table 47. Summary of methanolysis technologies-feedstocks, process, outputs, commercial maturity and technology developers. 106
Table 48. Summary of glycolysis technologies-feedstocks, process, outputs, commercial maturity and technology developers. 108
Table 49. Summary of aminolysis technologies. 111
Table 50. Advanced recycling (Depolymerisation) companies and capacities (current and planned). 112
Table 51. Overview of hydrothermal cracking for advanced chemical recycling. 113
Table 52. Overview of Pyrolysis with in-line reforming for advanced chemical recycling. 114
Table 53. Overview of microwave-assisted pyrolysis for advanced chemical recycling. 114
Table 54. Overview of plasma pyrolysis for advanced chemical recycling. 115
Table 55. Overview of plasma gasification for advanced chemical recycling. 116
Table 56. Summary of carbon fiber (CF) recycling technologies. Advantages and disadvantages. 118
Table 57. Retention rate of tensile properties of recovered carbon fibres by different recycling processes. 119
Table 58. Recycled carbon fiber producers, technology and capacity. 120

List of Figures

Figure 1. Global plastics production 1950-2021, millions of tonnes. 17
Figure 2. Coca-Cola PlantBottle®. 20
Figure 3. Interrelationship between conventional, bio-based and biodegradable plastics. 20
Figure 4. Global production, use, and fate of polymer resins, synthetic fibers, and additives. 23
Figure 5. The circular plastic economy. 25
Figure 6. Current management systems for waste plastics. 26
Figure 7. Overview of the different circular pathways for plastics. 28
Figure 8. Global polymer demand 2022-2040, segmented by recycling technology for PE (million tonnes). 48
Figure 9. Global polymer demand 2022-2040, segmented by recycling technology for PP (million tonnes). 49
Figure 10. Global polymer demand 2022-2040, segmented by recycling technology for PET (million tonnes). 51
Figure 11. Global polymer demand 2022-2040, segmented by recycling technology for PS (million tonnes). 52
Figure 12. Global polymer demand 2022-2040, segmented by recycling technology for Nylon (million tonnes). 53
Figure 13. Global polymer demand 2022-2040, segmented by recycling technology for Other types (million tonnes). 55
Figure 14. Global polymer demand in Europe, by recycling technology 2022-2040 (million tonnes). 56
Figure 15. Global polymer demand in North America, by recycling technology 2022-2040 (million tonnes). 58
Figure 16. Global polymer demand in South America, by recycling technology 2022-2040 (million tonnes). 59
Figure 17. Global polymer demand in Asia, by recycling technology 2022-2040 (million tonnes). 61
Figure 18. Global polymer demand in Oceania, by recycling technology 2022-2040 (million tonnes). 62
Figure 19. Global polymer demand in Africa, by recycling technology 2022-2040 (million tonnes). 64
Figure 20. Market map for advanced plastics recycling. 68
Figure 21. Value chain for advanced plastics recycling market. 69
Figure 22. Schematic layout of a pyrolysis plant. 75
Figure 23. Waste plastic production pathways to (A) diesel and (B) gasoline 80
Figure 24. Schematic for Pyrolysis of Scrap Tires. 84
Figure 25. Used tires conversion process. 85
Figure 26. SWOT analysis-pyrolysis for advanced recycling. 86
Figure 27. Total syngas market by product in MM Nm³/h of Syngas, 2021. 90
Figure 28. Overview of biogas utilization. 92
Figure 29. Biogas and biomethane pathways. 93
Figure 30. SWOT analysis-gasification for advanced recycling. 95
Figure 31. SWOT analysis-dissoluton for advanced recycling. 98
Figure 32. Products obtained through the different solvolysis pathways of PET, PU, and PA. 100
Figure 33. SWOT analysis-Hydrolysis for advanced chemical recycling. 103
Figure 34. SWOT analysis-Enzymolysis for advanced chemical recycling. 105
Figure 35. SWOT analysis-Methanolysis for advanced chemical recycling. 107
Figure 36. SWOT analysis-Glycolysis for advanced chemical recycling. 110
Figure 37. SWOT analysis-Aminolysis for advanced chemical recycling. 111
Figure 38. NewCycling process. 128
Figure 39. ChemCyclingTM prototypes. 132
Figure 40. ChemCycling circle by BASF. 133
Figure 41. Recycled carbon fibers obtained through the R3FIBER process. 134
Figure 42. Cassandra Oil process. 145
Figure 43. CuRe Technology process. 153
Figure 44. MoReTec. 193
Figure 45. Chemical decomposition process of polyurethane foam. 196
Figure 46. OMV ReOil process. 208
Figure 47. Schematic Process of Plastic Energy’s TAC Chemical Recycling. 212
Figure 48. Easy-tear film material from recycled material. 230
Figure 49. Polyester fabric made from recycled monomers. 233
Figure 50. A sheet of acrylic resin made from conventional, fossil resource-derived MMA monomer (left) and a sheet of acrylic resin made from chemically recycled MMA monomer (right). 244
Figure 51. Teijin Frontier Co., Ltd. Depolymerisation process. 248
Figure 52. The Velocys process. 255
Figure 53. The Proesa® Process. 256
Figure 54. Worn Again products. 258

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