The global microplastic recycling market will grow from USD 330.97 million in 2025 to USD 700.15 million by 2034, at a CAGR of 9.63% from 2025 to 2034. Major companies in the market are using strategies like mergers and acquisitions to develop advanced recycling technologies. The market is growing quickly because of rising environmental concerns and stricter government rules to control plastic pollution.
Microplastic Recycling Market Key Players
Latest Announcements by Industry Leaders
- In September 2024, Professor Peter Eastwood, Deputy Vice Chancellor for Research and Innovation at Murdoch University, stated that bioplastics and other cutting-edge technology solutions were necessary to address the escalating plastic waste problem. In order to commercialize compostable bioplastics that satisfy the manufacturing design requirements and certification standards for 100% biodegradation, Murdoch University also helps industry to develop a sophisticated biomanufacturing sector. By 2030, the Bioplastics Innovation Hub will have helped SIR achieve its goal of 80% less plastic waste entering the Australian ecosystem. This program backs Australia’s adherence to the National Plastics Plan of the Australian government and the United Nations Global Treaty on Plastic Pollution. (Source: CSIRO)
New Advancements in the Market
- In June 2025, Cleaner Seas Group (CSG), a Cornwall-based organization, revealed the launch of a microplastics recycling plan that it says could save up to 86 tonnes of microplastics from entering the ocean annually. A brand-new plant in Cornwall will recycle microplastics that have been caught by filters and transform them into useful products. (Source: Business Green)
- In June 2025, in the U.S., LG Energy Solution and Toyota Tsusho introduce Battery Recycling IV. An Upcoming Development in Sustainable Transportation LG Energy Solution Ltd. and Toyota Tsusho Corp. have announced the establishment of a battery recycling joint venture in the U.S. on June 23, 2025, marking a significant step towards a greener future. (Source: Polyestertime)
- In May 2025, HUGO BOSS, a textile industry company, revealed NovaPoly, a new recycled polyester yarn created to address the issue of microplastics in fashion. NBC LLC and Jiaren Chemical Recycling collaborated to develop the fiber, which is composed of post-consumer textile waste and production trash. Its natural ingredient is a crucial component that encourages environmental deterioration and lessens the long-term effects of microfibers generated during washing and wear. (Source: Environment+Energy Leader)
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