The global market for advanced/molecularly recycled plastics is projected to grow at a CAGR of 27.29% from 2024 to 2033, with an expected value of $12.59 billion by 2032. Advanced recycling technologies offer effective solutions by converting plastic waste into high-quality materials, improving plastic circularity and sustainability. These innovations, pushed by organizations, consumers, legislators, and brands, are essential for reducing environmental negative effects and promoting a sustainable economy.
Greenhouse gas and carbon emissions pose significant threats to ecosystems, human health, and economies. The widespread use of plastics, due to their cost-effectiveness, strength, and lightweight properties, has led to unprecedented volumes of waste, overwhelming waste management systems, and polluting environments. Mechanical recycling, the dominant technology, struggles with diverse waste types and often results in downcycling, failing to meet the demand for virgin plastics in sectors including food packaging, medical, and automotive.
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