Key Certified Circular Plastics Market Trend 2024-2033: Growth of Sustainable Certified Circular Resins

The Business Research Company’s Certified Circular Plastics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The certified circular plastics market is expected to rise from $1.47 billion in 2023 to $1.64 billion in 2024, reflecting a CAGR of 12.0%. Growth is fueled by increased environmental awareness, regulatory pressures, and a growing consumer demand for sustainable products and circular economy practices.

What Are the Market Size Estimates for the Global Certified Circular Plastics Market and Its Expected Growth Rate?
The market is expected to grow to $2.61 billion by 2028, with a CAGR of 12.3%. Growth is attributed to the increasing demand for sustainable packaging, stricter regulations on plastic waste, heightened consumer awareness of environmental impacts, and rising corporate commitments to circular economy practices. Major trends include advancements in chemical recycling, innovations in eco-friendly packaging, and the development of bio-based plastics.

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What Are The Primary Growth Drivers Of The Certified Circular Plastics Market?
As environmental concerns over plastic waste intensify, the demand for certified circular plastics that are recycled and meet stringent sustainability standards—is expected to rise. This growth is driven by stricter regulations on plastic waste and consumer demand for sustainable products. A 2022 report from the National Association for PET Container Resources showed that PET recycling rates in the U.S. increased to 28.6%, reflecting growing consumer and industry commitment to sustainability.

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Who Are The Top Market Players Contributing To The Growth Of The Certified Circular Plastics Market?
Major companies operating in the market are ExxonMobil Corporation, TotalEnergies SE, BASF SE, The Dow Chemical Company, Saudi Basic Industries Corporation, LyondellBasell Subholdings B.V., Neste Corporation, Covestro AG, UPM-Kymmene Oyj, Eastman Chemical Company, ALPLA Group, Chevron Phillips Chemical Company LLC, Trinseo, Plastipak Holdings Inc., Borealis AG, INEOS Styrolution Group GmbH, Veolia Environnement S.A., Plastic Energy Limited, Hanmere Polythene Limited (Amerplast), GreenMantra Technologies, Agilyx Corporation, Carbios SAS, Loop Industries Inc.

What Emerging Trends Are Affecting The Size Of The Certified Circular Plastics Market?
The market is also evolving with the development of sustainable solutions like certified circular resins. These resins are made from recycled plastic materials and can themselves be recycled again, promoting a circular economy. In March 2024, Toray Plastics (America) introduced polypropylene film made from certified circular resins, utilizing ExxonMobil's advanced recycling technology, to support sustainability in the packaging industry.

How Is the Global Certified Circular Plastics Market Segmented?
The certified circular plastics market covered in this report is segmented –
1) By Type: Polyethylene Terephthalate, High-Density Polyethylene, Polyvinyl Chloride, Low-Density Polyethylene, Polypropylene, Polystyrene, Other Types
2) By Application: Packaging, Grocery Bags, Other Applications
3) By End-Use: Food And Beverages, Healthcare, Household, Building And Construction, Electrical And Electronics, Agriculture, Other End-Uses

Geographical Analysis: North America Emerges as the Certified Circular Plastics Market Leader
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Certified Circular Plastics Market Definition and Overview
Certified circular plastics are plastic materials that are verified as part of a closed-loop recycling system. These plastics are designed to be recycled into new products, ensuring minimal waste and reducing the reliance on virgin materials by promoting the reuse of resources in a circular economy.

The Certified Circular Plastics Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Certified Circular Plastics Market Report: Trends, Opportunities, Strategies, and More
The Certified Circular Plastics Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into certified circular plastics market size, certified circular plastics market drivers and trends, certified circular plastics market major players, certified circular plastics competitors' revenues, certified circular plastics market positioning, and certified circular plastics market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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The Business Research Company
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