Europe Microplastic Recycling Market Size study, by Product Type (Primary Microplastics and Secondary Microplastics), by End-use (Personal Care, Packaging, Construction, Automotive and Others) and Country Forecasts 2022-2032

Europe Microplastic Recycling Market Size study, by Product Type (Primary Microplastics and Secondary Microplastics), by End-use (Personal Care, Packaging, Construction, Automotive and Others) and Country Forecasts 2022-2032

Europe Microplastic Recycling Market is valued approximately at USD 117.48 million in 2023 and is anticipated to grow with a healthy growth rate of more than 6.98% over the forecast period 2024-2032. Microplastic Recycling refers to the segment of the recycling industry focused on recovering and processing microplastic particles, which are plastic fragments smaller than 5 millimeters in size, from various sources such as waterways, industrial effluents, and consumer products. This market encompasses technologies and processes aimed at effectively capturing, sorting, and recycling these tiny plastic particles to prevent environmental pollution and promote a circular economy.

In recent years, the European microplastic recycling market has experienced significant growth driven by escalating concerns about plastic pollution and its adverse impacts on ecosystems, wildlife, and human health. Governments, environmental organizations, and consumers are increasingly recognizing the urgency of addressing microplastic pollution, leading to a surge in demand for innovative recycling solutions within the microplastic recycling market. As a result, there's a growing trend towards research and development of advanced technologies, implementation of stringent regulations, and collaboration among stakeholders to tackle the challenge of microplastic pollution effectively. For instance, The European Commission has implemented a prohibition on crumb rubber infill, aligning it with the ban on deliberately added microplastics. This measure aims to address apprehensions surrounding the utilization of crumb rubber in sports fields, primarily focusing on concerns related to polycyclic aromatic hydrocarbon (PAH) content. Despite efforts to reduce PAH levels, subsequent studies unveiled persistently elevated concentrations, prompting intensified scrutiny. The Risk Assessment Committee (RAC) of the European Chemicals Agency broadened the classification of microplastics to encompass any polymer measuring less than 5mm, thereby including the majority of crumb rubber infill within its scope. However, inadequate infrastructure and technological limitations, on the other hand, will stifle market growth between 2022 and 2032.

The key countries considered for the Europe Microplastic Recycling market study includes UK, Germany, France, Italy, Spain, and Rest of Europe. In 2023, Germany leads in microplastic recycling, holding largest share due to its robust research culture, advanced recycling infrastructure, stringent environmental regulations, government support, industry collaboration, public awareness, and an export-oriented economy. The country's investment in research and innovation, coupled with well-established recycling facilities and collection schemes, provides a strong foundation for effective microplastic recycling initiatives. Stringent environmental standards incentivize businesses to innovate in sustainable practices, supported by government funding and incentives. Collaborative efforts between industry, research institutions, and government agencies accelerate the development and adoption of microplastic recycling technologies. German society's high environmental consciousness drives demand for sustainable solutions, further propelling the country's leadership in this field. Moreover, UK is projected to register fastest growth in the market.

Major market player included in this report are:
Agilyx Corporation
PureCycle Technologies
Loop Industries
Recycling Technologies
RES Polyflow LLC
Carbios S.A
BioCellection Inc
Plastic Energy
Newlight Technologies
Cynar Plc

The detailed segments and sub-segment of the market are explained below:

By Product type:
Primary Microplastics
Secondary Microplastics
By End-use:
Personal Care
Packaging
Construction
Automotive
Others
 
By Region:
Europe
UK
Germany
France
Spain
Italy
ROE

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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