Global advance recycling and circularity market size reached US$ 7.92 billion in 2024 and is expected to reach US$ 14.91 billion by 2032, growing with a CAGR of 8.23% during the forecast period 2025-2032.
The advanced recycling and circularity market is experiencing significant growth, propelled by governmental initiatives and corporate investments aimed at sustainable waste management. In the US, ExxonMobil has committed US$ 200 million to expand its advanced recycling capabilities in Baytown and Beaumont, Texas, with the goal of processing over 1 billion pounds of plastic annually.
The initiative, in partnership with Cyclyx, seeks to enhance plastic recyclability and establish Jefferson County as a regional recycling hub. Similarly, India's circular economy is projected to reach a market value of US$ 2 trillion by 2050, creating approximately 10 million jobs, as per statements from the Union Environment Minister.
Advance Recycling and Circularity Market Trend
A notable trend in the Advanced Recycling and Circularity Market is the increasing emphasis on reuse models over traditional recycling. While less than 9% of plastic waste is successfully recycled, reuse strategies have demonstrated the potential to reduce packaging production and emissions by up to 90% and 80%, respectively. This shift is driven by the recognition that recycling alone is insufficient to address the plastic waste crisis, prompting a move towards business models that prioritize reuse to achieve a more sustainable and circular economy.
Dynamics
Integration of AI and Robotics in Waste Sorting and Recycling Processes
The integration of artificial intelligence (AI) and robotics in waste sorting and recycling processes is significantly advancing the Advanced Recycling and Circularity Market. AI-powered robots can sort waste materials at a speed of 80 items per minute, achieving sorting accuracies up to 98%, thereby enhancing recycling efficiency and reducing contamination rates.
In India, companies like Recykal are deploying AI-driven systems such as Google's CircularNet CV, which ensures over 90% accuracy in sorting recyclables at collection centers, leading to better material identification and reduced contamination across recycling streams. These technological advancements not only improve the quality of recyclables but also contribute to a more sustainable recycling ecosystem by minimizing waste sent to landfills and maximizing the value extracted from recyclables.
High Capital Investment Requirements for Chemical Recycling Facilities
High capital investment requirements for chemical recycling facilities are a significant restraint in the advancement of the recycling and circularity market. For instance, in India, establishing a chemical recycling plant with a capacity of 1 tonne per day entails an investment of approximately US$ 0.65 million, highlighting the substantial financial barrier to entry.
Similarly, in the US, the Environmental Protection Agency (EPA) estimates that modernizing the national recycling infrastructure would require an investment ranging from US$ 36.5 to 43.4 billion, encompassing improvements in collection, sorting, and processing systems. These high upfront costs can deter investment and slow the adoption of advanced recycling technologies.
Segment Analysis
The global advance recycling and circularity market is segmented based on technology, material, product, business model, end-user and region.
Cracking Segment Driving Advance Recycling and Circularity Market
Cracking technology, particularly pyrolysis, is significantly propelling the advanced recycling and circularity market by converting complex plastic waste into valuable resources. In 2024, the pyrolysis/cracking segment is projected to dominate the global advanced recycling technologies market with over 20% share, attributed to its efficiency in breaking down diverse waste materials through high-temperature processes. This method is especially effective for processing mixed polyolefin plastic waste and multi-material packaging, which are traditionally challenging to recycle.
Geographical Penetration
Demand for Advance Recycling and Circularity in North America
The demand for advanced recycling and circularity solutions in North America is intensifying, driven by significant governmental initiatives and corporate investments. In the US, ExxonMobil has committed US$ 200 million to expand its advanced recycling capabilities in Baytown and Beaumont, Texas, aiming to process over US$ 1 billion pounds of plastic annually. This investment includes a partnership with Cyclyx to enhance plastic recyclability and establish Jefferson County as a regional recycling hub.
In Canada, the federal government recognizes the potential of a circular economy to reduce carbon pollution by 1.8 million tonnes and create approximately 42,000 jobs by 2030. However, the country's recycling infrastructure requires substantial investment. To address this, the government is supporting pilot and demonstration projects aimed at commercializing modern recycling technologies. These efforts underscore a growing commitment in North America to advance recycling systems and promote sustainable resource management.
Technological Analysis
The global advanced recycling and circularity market is undergoing significant technological advancements, driven by governmental initiatives aimed at sustainable waste management. In the US, the Environmental Protection Agency (EPA) has emphasized the importance of a circular economy, promoting strategies that minimize waste and make the most of resources. India's Ministry of Environment, Forest & Climate Change has implemented the Plastic Waste Management Rules (2016) and banned certain single-use plastics in 2022, encouraging the adoption of eco-friendly products and energy-efficient practices.
The European Union has also been proactive, with the European Commission's Circular Economy Action Plan aiming to make sustainable products the norm in the EU, focusing on sectors like electronics, batteries, and plastics. These governmental policies are fostering innovation in recycling technologies, such as chemical recycling and waste-to-energy processes, enhancing the efficiency and effectiveness of recycling systems worldwide.
Competitive Landscape
The major global players in the market include ExxonMobil Corporation, Carbios, Umicore SA, Paprec Group, UBQ Materials, Gypsum Recycling International A/S, Recover Textile Systems, S.L., Agilyx Corporation, BASF SE, and Honeywell International Inc.
Key Developments
● In February 2025, the Global Impact Coalition (GIC), a CEO-led platform originally incubated at the World Economic Forum, launched an automotive plastics circularity pilot along with seven global companies in the chemical and recycling industries—BASF, Covestro, LyondellBasell, Mitsubishi Chemical Group, SABIC, SUEZ and Syensqo—to address the challenge of recycling plastics from end-of-life vehicles (ELVs).
● In November 2024, ExxonMobil invested more than US$ 200 million to expand its advanced recycling operations at its sites in Baytown and Beaumont, Texas. The new operations are expected to start up in 2026 and can help increase advanced recycling rates and divert plastic from landfills. The company plans to build additional units to reach a global recycling capacity of 1 billion pounds per year by 2027.
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Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Technology
- 3.2. Snippet by Material
- 3.3. Snippet by Product
- 3.4. Snippet by Business Model
- 3.5. Snippet by End-User
- 3.6. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Integration of AI and Robotics in Waste Sorting and Recycling Processes
- 4.1.2. Restraints
- 4.1.2.1. High Capital Investment Requirements for Chemical Recycling Facilities
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 5.5. Technological Analysis
- 5.6. Industry Trend Analysis
- 5.7. DMI Opinion
- 6. By Technology
- 6.1. Introduction
- 6.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 6.1.2. Market Attractiveness Index, By Technology
- 6.2. Cracking*
- 6.2.1. Introduction
- 6.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 6.3. Gasification
- 6.4. Depolymerization
- 6.5. Microwave Processing
- 6.6. Mechanical Recycling
- 6.7. Composting & Anaerobic Digestion
- 6.8. Others
- 7. By Material
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 7.1.2. Market Attractiveness Index, By Material
- 7.2. Plastics*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Metals
- 7.4. Textiles
- 7.5. Composites
- 7.6. Others
- 8. By Product
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 8.1.2. Market Attractiveness Index, By Product
- 8.2. Naphtha*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Heavy Gas Oil
- 8.4. Recycled Plastics
- 8.5. Secondary Metals
- 8.6. Recycled Construction Materials
- 8.7. Others
- 9. By Business Model
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Business Model
- 9.1.2. Market Attractiveness Index, By Business Model
- 9.2. Circular Products*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Closed-loop Recycling Services
- 9.4. Reverse Logistics
- 9.5. Material Recovery Services
- 9.6. Refurbishment and Remanufacturing
- 9.7. Others
- 10. By End-User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.1.2. Market Attractiveness Index, By End-User
- 10.2. Food & Beverage Packaging*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Industrial Packaging
- 10.4. Consumer Electronics
- 10.5. Construction and Building Materials
- 10.6. Automotive and Transportation
- 10.7. Agriculture and Food Processing
- 10.8. Waste Management Services
- 10.9. Others
- 11. By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Business Model
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.8.1. US
- 11.2.8.2. Canada
- 11.2.8.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Business Model
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.8.1. Germany
- 11.3.8.2. UK
- 11.3.8.3. France
- 11.3.8.4. Italy
- 11.3.8.5. Spain
- 11.3.8.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Business Model
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.8.1. Brazil
- 11.4.8.2. Argentina
- 11.4.8.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Business Model
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.8.1. China
- 11.5.8.2. India
- 11.5.8.3. Japan
- 11.5.8.4. Australia
- 11.5.8.5. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Business Model
- 11.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Company Profiles
- 13.1. BASF SE*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Key Developments
- 13.2. ExxonMobil Corporation
- 13.3. Carbios
- 13.4. Umicore SA
- 13.5. Paprec Group
- 13.6. UBQ Materials
- 13.7. Gypsum Recycling International A/S
- 13.8. Recover Textile Systems, S.L.
- 13.9. Agilyx Corporation
- 13.10. Honeywell International Inc.
- LIST NOT EXHAUSTIVE
- 14. Appendix
- 14.1. About Us and Services
- 14.2. Contact Us
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