Circular Polymers Market Size Analysis and Top Companies
The global circular polymers market size is anticipated to reach around USD 197.80 billion by 2033 from USD 72.40 billion in 2023, growing at a CAGR of 10.57% from 2024 to 2033. The top companies operating in the circular polymers market are LyondellBasell Industries Holdings B.V., SABIC, Ascend Performance Materials Operations, LLC, Advanced Circular Polymers, Borealis AG, Veolia, Exxon Mobil Corporation, The Shakti Plastic Industries, Chevron Phillips Chemical Company, LLC, Suez Group, and Others.
Market Report Coverage
| Report Coverage |
Details |
| Growth Rate from 2024 to 2033 |
CAGR of 10.57% |
| Global Market Size in 2023 |
USD 72.40 Billion |
| Global Market Size in 2024 |
USD 80.05 Billion |
| Global Market Size by 2033 |
USD 197.80 Billion |
| Largest Market |
Asia Pacific |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
By Polymer Type, By Form, By Application, and By End-use |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Circular Polymers Key Players
- LyondellBasell Industries Holdings B.V.
- SABIC
- Ascend Performance Materials Operations, LLC
- Advanced Circular Polymers
- Borealis AG
- Veolia
- Exxon Mobil Corporation
- The Shakti Plastic Industries
- Chevron Phillips Chemical Company, LLC
- Suez Group
Recent Developments
- In September 2023, Chevron Phillips Chemical Company LLC collaborated with Danimer Scientific, formerly known as Meridian Holdings Group Inc., and MHG, a biopolymer manufacturer. This collaboration aimed to utilize Rinnovo polymers produced in a loop slurry reactor process to create biodegradable cast extrusion films, blown extrusion films, injection molded parts, and rational molded parts.
- In July 2023, TotalEnergies SE collaborated with Aramco, SABIC (Saudi Arabia Basic Industries Corporation), a chemical manufacturer. This collaboration aimed to convert oil derived from plastic waste into circular polymers.
- In June 2023, Circular Polymers by Ascend introduced Cerene, a line of recycled polymers and materials made from the company’s proprietary carpet reclaiming technology. The launched product would be available as polyamide 6 and 66, PET, polypropylene, and calcium carbonate as a consistent, sustainable feedstock for many applications consisting of molding and compounding.
- In June 2023, Borealis AG took over Rialti S.p.A., a polypropylene (PP) compounder of recyclates based in the Varese area of Italy. This acquisition aimed to expand Borealis's PP compounding business and, in particular, increase its volume of PP compounds based on mechanical recyclates.
- In May 2023, Borealis AG launched Bornewables, a line of Queo, a range of plastomers and elastomers based on renewable feedstock. The launched product would allow Borealis to meet increasing customer demand for sustainable solutions that don’t compromise on quality or performance.
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