The recycled plastics market is gaining momentum with rising global awareness of sustainability and circular economy practices. Governments are introducing stricter regulations and incentives to promote recycling and reduce plastic waste. Technological advancements in recycling methods, such as chemical recycling, are producing higher-quality outputs. Demand is increasing from industries like packaging, automotive, and construction. Emerging applications in textiles and electronics are also contributing to market growth.
According to the research report, the global recycled plastics market was valued at USD 46,752.4 million in 2021 and is expected to reach USD 86,968.51 million by 2030, to grow at a CAGR of 7.4% during the forecast period.
Recycled Plastics
- Increasing focus on circular economy initiatives and plastic waste reduction.
- Growing demand for recycled plastics in packaging, automotive, and consumer goods industries.
- Advancements in recycling technologies, such as chemical recycling, for better-quality outputs.
- Rising government regulations and incentives promoting the use of recycled materials.
- Expanding applications in textiles, construction, and electrical industries.
- Alpek S.A.B. de C.V.
- Biffa plc
- Custom Polymers
- Envision Plastics Industries
- Far Eastern New Century
- Green Line Polymers
- Indorama Ventures
- Jayplas
- KW Plastics
- Plastipak Holdings
- Republic Services
- Stericycle
- Suez
- Ultra Poly Corporation
- Veolia Polymers
Growth Factors:
• Market dynamics:All the key factors and major developments anticipated to boost the growth of the market are covered in the study.
• Technological evolution:The report offers a thorough understanding of the emerging technologies that can influence the Recycled Plastics market demand.
• Innovation pathways: The study covers where innovations can take the market in the mid to long term.
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The Geographical Analysis Covers Following Key Regions:
• North America (United States, Canada, and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and the rest of South America)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Recycled Plastics Market Segmentation:
Recycled plastics are segmented by type, source, application, and region. Types include polyethylene, polypropylene, PET, and PVC, with PET leading due to packaging applications. Sources include bottles, films, and fibers, with bottles being the largest segment. Applications cover packaging, construction, automotive, and textiles, with packaging holding the largest share. North America and Europe lead due to regulations, while Asia-Pacific shows growth in recycling initiatives.
Recycled Plastics Market, Type Outlook (Revenue – USD Million, 2018 – 2030)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polystyrene (PS)
- Others
Recycled Plastics Market, Source Outlook (Revenue – USD Million, 2018 – 2030)
- Foams
- Films
- Bottles
- Fibers
- Others
Recycled Plastics Market, End-Use Outlook (Revenue – USD Million, 2018 – 2030)
- Packaging
- Automotive
- Construction
- Textile
- Electrical & Electronics
- Others
Recycled Plastics Industry Developments:
In November 2021, Honeywell announced the commercialization of its “UpCycle Process Technology,” a cutting-edge plastic recycling method designed to improve plastic waste management and sustainability efforts.
In October 2021, ExxonMobil revealed plans to build a facility for advanced recycling of plastic waste at its Baytown, Texas plant. The facility, expected to be operational by the end of 2022, is designed to recycle 30,000 metric tonnes of plastic waste annually, making it one of the largest plastic recycling plants in North America.
In September 2021, Sumitomo Chemical launched Meguri, a new brand focused on plastic products created using advanced recycling technology. The brand includes recycled plastic materials such as acrylic resin, polyethylene, and polypropylene, aiming to meet the growing demand for sustainable solutions and contribute to reducing greenhouse gas emissions.
In October 2019, Dow introduced AGILITY CE, a new resin made of 70% recycled plastic. Composed of low-density polyethylene and recycled plastic shrink film, the product expands the company’s sustainable solutions portfolio and helps advance circular economy goals.
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