The Asia Pacific Circular Polymers Market would witness market growth of 11.5% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 19,118.0 Kilo Tonnes, showcasing a growth of 10.7% (2019-2022).
In the healthcare industry, circular polymers produce sustainable and recyclable medical devices, packaging, and other healthcare products. This application aligns with the increasing focus on sustainability in the healthcare sector. Circular polymers are used in the production of sporting goods and equipment. From recycled materials, manufacturers can create sustainable options for items such as sports gear, equipment components, and packaging, catering to environmentally conscious consumers.
Furthermore, frequently manufactured from recycled materials, circular polymers reduce carbon emissions in comparison to the manufacturing of virgin plastics. Incorporating circular polymers into manufacturing can help companies lower their overall carbon footprint. By using recycled feedstocks to produce circular polymers, companies contribute to conserving natural resources. This aligns with sustainability goals focused on responsible resource management and reducing reliance on finite resources.
Additionally, government policies and regulations in China aimed at sustainable development and environmental protection can drive the adoption of circular polymers in construction. Incentives, subsidies, and regulatory frameworks that encourage using recycled materials can propel the growth of the market. According to the State Council of China data, in 2021, the total output value of construction enterprises nationwide reached 29.3 trillion yuan (about $4.22 trillion). Therefore, rising construction and packaging industries in Asia Pacific will help in the expansion of the regional market.
The China market dominated the Asia Pacific Circular Polymers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $18,483.7 million by 2030. The Japan market is showcasing a CAGR of 10.8% during (2023 - 2030). Additionally, The India market would register a CAGR of 12.1% during (2023 - 2030).
Based on Form, the market is segmented into Pellets, and Flakes. Based on Application, the market is segmented into Food Packaging, Adhesives & Sealants, Interior & Exterior Components, Wires & Cables, and Others. Based on End-use, the market is segmented into Packaging, Building & Construction, Automotive, Electrical & Electronics, and Others. Based on Type, the market is segmented into Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polyamide (PA), and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Circular Polymers Market is Predict to reach $143.2 Billion by 2030, at a CAGR of 11.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LyondellBasell Industries Holdings B.V., SABIC (Saudi Arabian Oil Company), Ascend Performance Materials LLC (SK Capital and Partners), Veolia Environnement S.A., Exxon Mobil Corporation, Chevron Phillips Chemical Company LLC, Borealis AG (OMV), The Shakti Plastic Industries, Advanced Circular Polymers, and TotalEnergies SE.
By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-use(Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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