I hope you are well.
Dr Richard Collins, Research Director at IDTechEx, has recently published the below article.
This article follows the release of the brand new IDTechEx report, "Chemical Recycling and Dissolution of Plastics 2023-2033".
Sample pages are available for this report, please do let me know if you would like to receive these.
Dr Collins will be presenting an upcoming free-to-attend webinar on the topic on Wednesday 9 November 2022. Details for this can be found towards the end of this email.
IDTechEx Release Essential Market Forecasts for the Chemical Recycling of Plastic Waste
Creating a circular economy is an essential sustainability target for stakeholders across the plastic value chain. Conventional mechanical recycling methods are necessary, but given the inferior product properties, this downcycling will only go so far; this is where chemical recycling and dissolution processes enter the picture. Chemical recycling attracts both notable critics and strong supporters, but the commercial momentum is building. IDTechEx has launched a new market report providing a technical assessment and independent market outlook on the topic; overall, it is forecast that pyrolysis and depolymerization plants will recycle over 20 million tonnes/year of plastic waste by 2033.
In their brand new market report, "Chemical Recycling and Dissolution of Plastics 2023-2033", IDTechEx provides unbiased 10-year market forecasts, industry analysis, and critical technical assessment on pyrolysis, depolymerization, gasification, and dissolution processes both in-use today and being proposed for the near future to enable a circular economy.
The existing ISO definition (ISO 472: 2013: 2.1690) states: feedstock (= chemical) recycling: recycling of plastic waste: conversion to monomer or production of new raw materials by changing the chemical structure of plastic waste through cracking, gasification or depolymerization, excluding energy recovery and incineration.
Headlines on the investments, planned expansions, and real-world product launches are all accelerating in their frequency and scale. The largest petrochemical companies, consumer goods companies and other key stakeholders in the value chain are responding with both internal developments and external engagements; early-stage technology companies are announcing funding, strategic partnerships, joint development agreements, and offtake agreements from critical players in the supply chain.
Overall, IDTechEx forecast that pyrolysis and depolymerization plants will recycle over 20 million tonnes/year of plastic waste by 2033. This is a significant number but will require a major investment and continuous engagement from stakeholders across the value chain. Despite this large projection, the global impact should not be overlooked, there is an ever-increasing production of fossil-based plastic, with an annual production of 429m tonnes (OECD, 2019), immediate challenges with waste management; chemical recycling has a role to play in closing the loop, but it is just one piece of the complex global puzzle.
Chemical recycling also has notable critics. They point out the flaws in the claimed environmental benefits, such as the assumptions behind life cycle assessments, including the comparison that waste would have otherwise been incinerated, and question the economic viability. The economics are challenging and not only influenced by the company's process (such as yield, feedstock requirements by plastic-type & form, and efficiency at scale) but also the associated infrastructure, policy, and macroeconomic trends; the "green premium" for the products is a key factor, the further prices can be decoupled from that of oil the greater the long-term success of these projects. The IDTechEx report aims to provide a balanced view of both those endorsing and criticizing the technology, many criticisms are valid, and advocacy groups, alongside failed projects, will inhibit the growth, but IDTechEx do not believe they will prevent the trajectory for this market.
IDTechEx has a longstanding history in providing an independent technical and market assessment on sustainable plastics. This market report includes:
- 10-year market forecasts for pyrolysis, depolymerization, gasification and dissolution; appropriate forecasts segmented by different polymer types
- Overview of the environmental impact and economic viability for each technology
- Assessment of key manufacturers, including their partnerships, funding & capacity expansions.
- Success stories, including product launches and failures. End-user activity from single-use plastics in FMCG packaging to various textiles, automotive parts, electronic equipment, and beyond
- Overview of solutions and developments for key polymers, including PP, PET, PS, PE, PU, PMMA, PA, PC, and PLA
- Analysis of the key market drivers: governments, companies (stakeholders across the value chain including product manufacturers, brands & retailers), NGOs, and public
- Global view of the status of the plastic recycling market, including recycling rates, chain of custody, location, design for recyclability, and more
- Technology appraisal of chemical recycling and dissolution processes that enable a circular economy. This includes strengths, limitations, challenges, criticisms, and outlook
- Comprehensive list of technology providers for each process
- Complete list of operational plants and planned projects worldwide with corresponding chemical recycling market shares
- Analysis of latest R&D and technology trends with a commercial impact. This includes microwave and enzymatic processes for depolymerization, hydrothermal approaches as a competition to pyrolysis, new polymer developments and more
- Interview-based player profiles
To find out more about the brand new IDTechEx report "Chemical Recycling and Dissolution of Plastics 2023-2033", please visit www.IDTechEx.com/ChemicalRecycling.
Sample pages are available for this brand new IDTechEx report, please do let me know if you would like to receive these.
Upcoming Free-to-Attend Webinar
Chemical Recycling Plastic Waste: Justified Hype or Hinderance?
Dr Richard Collins will be presenting a webinar on the topic on Wednesday 9 November 2022 - Chemical Recycling Plastic Waste: Justified Hype or Hinderance?
In this webinar, IDTechEx will provide:
- Critical independent assessment of the incumbent and emerging chemical recycling and dissolution processes
- Solutions for different polymer types and forms
- An overview of the key developments and players in this field
- Analysis of the key market drivers
- A market outlook on the planned chemical recycling projects
- A view of the industry pain points and criticisms
Click here to find out more and register your place on one of our three sessions.
Kind regards,
Annick
Content Marketing Manager
Tel: +44 (0)1223 812 300
www.IDTechEx.com