Global PVC Recycling Market Report 2023: Chemical Recycling Process to Drive Growth

DUBLIN, May 24, 2023 /PRNewswire/ -- The "PVC Recycling Market by Source (Pre-consumer Waste, Post-consumer Waste), Type (Rigid, Flexible, Chlorinated), Process (Mechanical, Chemicals), Application, End-use Industry (Building, construction), and Region - Global Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering.

The PVC recycling market is projected to reach USD 4.9 billion by 2028, with a CAGR of 8.0% from USD 3.3 billion in 2023.

Asia Pacific is home to several emerging economies with rapidly growing manufacturing sectors, which further drives the demand for PVC recycling.

The region has experienced significant growth in the last decade and accounts for over a third of the world's GDP. The high economic growth, coupled with the mounting population, is expected to boost the industrial sector in the region, which will increase the demand for PVC plastics from industries.

Chlorinated segment is expected to account for the second-largest share in 2022.

Chlorinated PVC (CPVC) is a type of plastic made by adding chlorine to PVC resin. This process creates a material that has improved heat and chemical resistance, making it suitable for various applications, including pipes, fittings, and electrical cables. CPVC is used in the construction industry for roofing membranes, door and window profiles, siding, and wall cladding. It is also used in a variety of medical and industrial applications, including tubing, valves, and pipes and fittings.

Electric wire gutter is expected to be the second-fastest growing application type for PVC recycling market during the forecast period, in terms of value.

An electrical wire gutter, also known as a wireway or wire duct, is an enclosure or channel used to contain and protect electrical wires and cables in commercial and industrial settings. It is used to organize and manage electrical wires to ensure safety and compliance with electrical codes.

Based on region, Asia Pacific region was the largest market for PVC recycling in 2022, in terms of value.

The Asia Pacific held the top position in terms of value in the global PVC recycling market in 2022. The Growth cant be attributed to the regions emphasis on innovation, technology advancement, and industrial expansion which have led to an increase in the consumption of PVC. The Global economy's overall improvement is expected to further drive the markets growth.

China is a dominant market in the Asia Pacific region, However, Japan is projected to experience significant growth during the forecast period due to the widespread use of PVC in multiple end -use industries in the region.

Market Dynamics

Drivers

• Reduce Environmental & Economic Impact of PVC Plastics
• Growing Awareness of Energy Savings and Government Responses
• Increasing Use of PVC in Various End-Use Industries
• Chemical Recycling Process to Drive Market

Restraints

• Technical Limitations of PVC Recycling Process
• Effects of Downcycling

Opportunities

• Favorable Initiatives to Promote Use of Recycled PVC in Developed Countries
• Demand for Sustainable Solutions from Construction and Packaging Industries
• New Recycling Technologies
• Opportunities for Chemical Industries

Challenges

• Quality Issues of Recycled PVC Plastics
• Difficulty in Collection of Raw Materials
• High Cost of Recycling
• Recycling Facilities Not Accepting Pigmented Plastics

Case Studies

Tesco Worked with Ds Smith on Its Zero Waste Ambitions by Backhauling Cards, Plastics, Animal By-Products, and Metals

Closed-Loop Plastic Recycling

Companies Mentioned

• Adams Plastics
• B. Schoenberg & Co. Inc.
• CPE Entosorgung
• D.C.L. Plastic Co. Ltd.
• Ds Smith
• Ecoplas
• GD Environmental
• Light Brothers Limited
• Norwich Plastics
• Plastic Expert
• Power Plastic Recycling Ltd.
• Pt. Rejeki Adigraha
• PVC Enterprise Ltd.
• PWR Trading and Extrusion Bv
• Reclaim Plastics
• Recovinyl
• Recyplast Cz S.R.O.
• Rekuplast S.R.O.
• Sika Sarnafil
• Simplas PVC Recycling
• Suez
• Veka Recycling
• Veolia
• Wespack
• Wrc Recycling

For more information about this report visit https://www.researchandmarkets.com/r/shdys8

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