Circular Polymers Market Growth, Trend and Forecast Till 2030

1. Circular Polymers Market Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2030

2. Global circular polymers industry is expected to be valued at around $175.6 billion by 2030, according to estimates from a Global Market Insights Inc. report • Circular systems market are gaining massive attention with businesses across the globe seeking to solve the plastic conundrum and limit the use of synthetic polymers with serious environmental impacts. The popularity of recycled or circular polymers is further slated to increase, considering the strong global focus on curbing the usage of single-use plastics. • A notable example is Canada’s Provincial Budget 2022, which could involve an additional $10 million spend on the CleanBC Plastics Action Fund to lower the use of plastics and initiate a shift toward recycled plastics in British Colombia. Furthermore, above 20 municipalities in this Canadian province are forming bylaws prohibiting the adoption of single-use plastics, thus asserting a positive influence on circular polymers market development. • Additionally, there has been increased spending on plastic recycling plants globally. For instance, in October 2021, Trex announced an investment of $400 million in a polyethylene (PE) recycling and production site at the Little Rock Port. Initiatives such as these could bolster the productivity of circular economy polymers developers.

3. Increasing acceptance for sustainable agriculture and packaging approaches may boost interest in circular polymer solutions • Plastics have become an indispensable part of industries like agriculture to reduce crop loss and enhance production, among other applications. Agricultural plastics are, however, emerging as a threat to environmental sustainability. These factors are stimulating the adoption of eco-friendly alternatives, such as circular polymer materials, in the agricultural sector. Based on data from Global Market Insights Inc., the agriculture segment accounted for above 10% of the circular polymers industry share in 2021. • Apart from agriculture, the packaging industry is one of the major end-users of recycled polymers. For example, The Coca-Cola Company has committed to making all plastic bottles reusable, recyclable, and compostable by 2025. Furthermore, there has been a shifting consumer preference, with sustainable packaging emerging as a vital part of shopping experiences. • Based on a Drapers’ report, 64% of UK consumers are more likely to purchase goods from retailers that offer sustainable packaging. Moreover, 50% of the consumers are willing to pay more for this type of packaging. Factors like these could bolster the use of quality circular polymers for packaging applications.

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