Growing Waste Generation & Carbon Emissions Worldwide Boosts the Circular Economy Market

The Global Circular Economy Market is expecting around 9% CAGR during 2021-26, cites MarkNtel Advisors in their recent research report. The increasing concerns of governments across different countries worldwide over environmental degradation due to the growing carbon emission & waste generations is the prime aspect driving the global market through 2026. 

The leading players indulged in the circular economy market are expanding their practices globally to add value to waste by recycling & remanufacturing it into useful resources. Besides, the active participation of prominent industries like Textile, Construction, Automotive, Logistics, Furniture, and Oil & Gas through substantial investments & rapid adoption of the circular economy concepts as a step toward sustainability is another crucial aspect expected to drive the global market in the coming years. 

Moreover, several organizations shifting toward digitalization & adopting decarbonization policies owing to their mounting focus on attaining zero-emission targets shall also contribute to the overall market growth in the years to come, further states the research report, “Global Circular Economy Market Analysis, 2021.”

Increasing Construction Activities to Generate Profitable Growth Opportunities for the Global Market

The construction sector, a significant contributor to carbon emissions, has been seeking various solutions to reduce emission levels. As a result, it dominated the Global Circular Economy Market with the largest share in previous years. The leading market players are utilizing waste generated from construction sites and repurposing them into goods & materials of value & use.

Besides, since the sector requires a substantial amount of materials, it is likely to generate profitability for the leading players to offer remanufactured materials for construction use & augment the market growth during the forecast period. Moreover, the escalating number of construction projects worldwide due to rigorous infrastructural developments is another crucial aspect projected to propel the overall market growth in the years to come.

With Stringent Government Policies to Curb Carbon Emissions, Europe Dominates the Circular Economy Market

With stringent regulations imposed by governments of different countries in Europe to curb carbon emissions & contribute to environmental sustainability, several industries across the region are actively participating in adopting a circular economy to repurpose waste into valuable goods & services. 

Countries like the UK are playing a crucial role in driving the market across Europe, owing to the mounting government focus on establishing several R&D centers across London, Loughborough, & Exeter, principally to seek ways for reusing waste materials across different end-user industries. Hence, the coming years are all set to create profitable prospects for the regional market, states MarkNtel Advisors in their research report, "Global Circular Economy Market Analysis, 2021."

Competitive Landscape

The leading players in the Global Circular Economy Market are Dell, Sony, Panasonic, IBM, & Cisco for electronic waste; ReGrained, Unilever, Nestle, The Savola Group, & IKEA Food for food waste; and Levi Strauss, H&M Group, Adidas, Zara, and Madewell for Clothing & Textile waste.

Key Questions Answered in the Research Report:

1. What are the current & future trends in the Global Circular Economy Market?
2. How has the industry been evolving in terms of geography & product adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Circular Economy Market?
5. What are the customer orientation, purchase behavior, and expectations from various companies related to Circular Economy across different regions?

Market Segmentation:

1. By Waste Management (Electronic Waste, Food Waste, Plastic Recycling, Clothing & Textile, Wood Recycling, Glass Recycling)
2. By Industry (Textile, Construction, Automotive, Logistics, Furniture, Oil & Gas)
3. By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
4. By Countries (The US, Canada, Mexico, Brazil, Argentina, The UK, Italy, Germany, France, Spain, Saudi Arabia, UAE, South Africa, China, Japan, India, South Korea, Australia)
5. By Competitors (Electronic Waste (Dell, Sony, Panasonic, IBM, Cisco), Food Waste (ReGrained, Unilever, Nestle, The Savola Group, IKEA Food), Clothing & Textile Waste (Levi Strauss, H&M Group, Adidas, Zara, Madewell))