The market size of the PVC recycling market is projected to reach USD 4.9 billion by 2028, at a CAGR of 8.0% from USD 3.3 billion in 2023. The increasing demand from the building, construction, and infrastructure, electrical, automotive, consumer goods, and agriculture sectors, coupled with the demand from emerging countries in the Asia Pacific, will contribute to the rapid growth in the demand for PVC.
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Based on type, the PVC recycling market has been segmented into rigid PVC, flexible PVC, and chlorinated PVC. Rigid PVC is commonly used for various products, including pipes, window frames, and siding. It is a durable and robust material that can withstand harsh weather conditions and is often used in construction and industrial applications. Rigid PVC has high demand in the PVC recycling market because it is well-suited for recycling as it can be easily melted down and reformed into new products without losing its structural integrity.
Based on application, the PVC recycling market has been segmented into pipe and fittings, window profiles and doors, flooring, wires and cables, facade, automotive interior, traffic cones, exterior gardens, PVC awning, rainwater gutter, electric gutter, roofing membranes, and automotive underbody protection. PVC window profiles are a common component in residential and commercial buildings. PVC window profile recycling involves collecting, sorting, and processing discarded window profiles to produce recycled PVC materials that can be used to manufacture new window profiles. Recycled PVC window profiles offer several advantages, including reducing the use of virgin PVC, conserving natural resources, and reducing energy consumption in manufacturing. Recycled PVC window profiles can meet the same performance standards as virgin PVC, making them a sustainable alternative for window manufacturers.
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Based on end-use industries, the PVC recycling market has been segmented into building, construction, and infrastructure, electrical, automotive, consumer goods, and agriculture. Building, construction, and infrastructure are major end-use industries for the recycled PVC market. Recycled PVC is used in various applications in the construction industry, including windows, doors, and profiles, pipes, electric wire gutters, and roofing membranes.
Asia Pacific is a key region in the global PVC recycling market. According to the World Bank, Asia Pacific is the fastest-growing region in terms of both population and economic growth. The region has experienced significant growth in the last decade and accounted for over a third of the world’s GDP. The high economic growth, coupled with the mounting population, is expected to boost the industrial sector in the region, which will increase the need for PVC plastics from industries. Continuous and easy availability of recycled PVC, low-cost labor, lower prices, and environmental benefits are also some of the major factors driving the PVC recycling market in the region.
