Solvent-based Plastic Recycling Market To Reach $1,222.6 Million By 2033

Solvent-based Plastic Recycling Market Growth & Trends

The global solvent-based plastic recycling market size is expected to reach USD 1,222.6 million by 2033, registering a CAGR of 7.4% from 2026 to 2033, according to a new report by Grand View Research, Inc. Growing consumption of plastics has resulted in growing plastic waste which because of improper plastic waste management has become a global crisis. Solvent-based recycling of plastic waste is one of the innovative ways to solve this crisis. To remove impurities a selective solvent dissolution process is used to recover plastics of minimum standards suitable for reuse.

Solvent-based processes can be useful in recycling plastics that are currently non-recyclable. Multilayer plastic materials are being used in many applications like electrical and electronic industries, and food and medical packaging. Globally about 100 million tons of multilayer plastics containing as many as twelve layers of varying polymers are produced each year. As recycling multilayer plastics is difficult almost all of that plastic ends up in landfills or incinerators. Solvent-based recycling can help solve this crisis by recycling multilayer plastics.

Some of the major companies in the solved-based recycling industry include Proctor & Gamble, APK AG, and Fraunhofer. Companies are resorting to collaborations and establishing new recycling plants to capture the market. For example, In August 2021, PureCycle Technologies signed an agreement with SK Global Chemical to set up a polypropylene (PP) recycling plant in South Korea. Also, major universities are actively researching to find novel methods of solvent recycling.

For example, scientists at the University of Wisconsin–Madison (UW-Madison) have discovered a method called Solvent-Targeted Recovery and Precipitation (STRAP) processing for extracting the plastics in multilayer plastics using solvents. In this process, polymers in a commercial multilayer plastic such as polyethylene, polyethylene terephthalate (PET), and ethylene vinyl alcohol by using a sequence of solvent washes.

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Solvent-based Plastic Recycling Market Report Highlights

• Solvent-based purification enables the reuse of contaminated, multilayer, and post-industrial streams that mechanical methods cannot reclaim to the same grade. Proprietary dissolution techniques allow the separation of additives and contaminants while maintaining polymer chain integrity

• Solvent-based facilities require high initial investments and complex solvent recovery systems. Variability in feedstock quality increases operational risks due to fluctuating yields and extra pre-treatment costs

• The market is in a moderate growth stage, with acceleration happening. It shows fragmentation, with key players leading the industry. Major companies like Solvay, Sulzer Ltd, Trinseo, Procter & Gamble, APK AG, Fraunhofer, PolystyreneLoop, PureCycle Technologies Inc, Saperatec GmbH, and others play important roles in shaping market trends

• The polystyrene segment dominated the market in terms of revenue, accounting for 46.5% market share in 2025, and is forecast to grow at a 6.7% CAGR from 2026 to 2033.

• The packaging segment led the market, accounting for 38.9% of revenue in 2025, and is projected to grow at a 7.5% CAGR from 2026 to 2033. Most of the plastic packaging materials manufactured today are composites made of distinct polymer layers, i.e., multilayer films.

• The Europe solvent-based plastic recycling industry held the largest revenue share of 64.0% in 2025. The region is expected to grow at a CAGR of 7.4% over the forecast period.

Solvent-based Plastic Recycling Market Segmentation

Grand View Research has segmented the global solvent-based plastic recycling market report based on product, application, and region:

Solvent-based Plastic Recycling Product Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Polystyrene

• Polyethylene Terephthalate

• Polyethylene

• Polyvinyl Chloride

• Polypropylene

• Others

Solvent-based Plastic Recycling Application Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Building & Construction

• Packaging

• Electrical & Electronics

• Textiles

• Automotive

• Others

Solvent-based Plastic Recycling Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

• Asia Pacific

  • China

  • India

  • Japan

• Central & South America

• Middle East & Africa

List of Key Players in the Solvent-based Plastic Recycling Market

• Solvay

• Sulzer Ltd

• Trinseo

• Procter & Gamble

• APK AG

• Fraunhofer

• PolystyreneLoop

• PureCycle Technologies Inc

• Saperatec GmbH