IDTechEx -In a world where fossil fuels are increasingly being avoided, and the mounting problem of plastic waste management intensifies, a new approach to plastic waste has attracted much attention. Advanced recycling technologies such as chemical recycling and the dissolution of plastic waste aim to increase the circularity of the plastics economy. Research by IDTechEx in their latest report, “Chemical Recycling and Dissolution of Plastics 2024-2034: Technologies, Players, Markets, Forecasts”, highlights key developments within the chemical recycling industry and predicts strong market growth with a CAGR of 35.1%. Mechanical recycling techniques will continue to be the dominant technology; however, the utility of mechanically recycled plastics is limited due to the degraded mechanical properties of the recycled plastic. This results in the downcycling of recycled plastic. This limitation necessitates alternative recycling methods such as chemical recycling and dissolution. Chemical recycling is the process where plastic waste is transformed either into monomers or new raw materials. This transformation occurs through various chemical reactions such as cracking, gasification, or depolymerization, explicitly excluding processes like energy recovery and incineration. These technologies allow previously unrecyclable plastic waste, such as multilayer packaging, to be recycled by turning this previously useless material into key feedstocks for the plastics production supply chain.For this reason, interest in chemical recycling is growing, with increasing investment in the sector and new plants being planned or existing plants expanded.
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