The Latin America, Middle East and Africa Circular Polymers Market would witness market growth of 12.1% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 4,919.0 Kilo Tonnes, showcasing a growth of 12.0% (2023-2030).
Various consumer goods, from household items to electronic devices, can incorporate circular polymers. In comparison to the production of new plastics, the recycling of plastics utilizing circular polymers reduces greenhouse gas emissions and energy consumption, thereby contributing to a more environmentally sustainable manufacturing process. Circular polymers are utilized in the production of electronic devices and appliances. Recycled plastics can be integrated into casings, components, and packaging materials, promoting the sustainable use of resources in the electronics industry.
They find applications in the construction sector for producing sustainable building materials. Recycled plastic can be incorporated into products such as pipes, insulation materials, roofing materials, and composite building components. Circular polymers contribute to resource efficiency in construction projects. Likewise, circular polymers are crucial in the automotive industry, where sustainability and lightweight materials are priorities. Recycled plastics, including circular polymers, can be used in interior components, bumpers, insulation, and other parts. This application helps reduce the environmental impact of automotive manufacturing.
Moreover, collaboration between governments, industries, and non-governmental organizations (NGOs) to promote a circular economy can contribute to increased demand for circular polymers. Partnerships that facilitate the collection, recycling, and use of recycled materials in the manufacturing process can drive adoption. If the production processes for circular polymers become more cost-competitive compared to traditional polymers, industries in the LAMEA region may be more inclined to incorporate recycled materials into their products, thereby increasing demand for circular polymers. Thus, rising waste management and sustainability initiatives in LAMEA region will lead to increased demand for circular polymers in the region.
The Brazil market dominated the LAMEA Circular Polymers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,740.9 million by 2030. The Argentina market is registering a CAGR of 12.7% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 11.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Circular Polymers Market is Projected to reach USD 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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