What Has Been The Evolution of the Post-Consumer Recycled Plastics Market in Recent Years?
The post-consumer recycled plastics market has seen considerable growth due to a variety of factors.
• The market size of post-consumer recycled plastics has seen significant growth lately. The market is projected to escalate from $15.96 billion in 2024 to $17 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%. Factors contributing to the growth during the historical period include corporate commitment to sustainability, increased consumer inclination towards environmentally friendly products, industry-led initiatives, an efficient plastic waste collection infrastructure, a decrease in reliance on fresh plastics, and economic benefits of recycling.
How Will the Post-Consumer Recycled Plastics Market Size In The Coming Years?
The Post-Consumer Recycled Plastics market is expected to maintain its strong growth trajectory in upcoming years.
• In the next few years, a substantial increase is anticipated in the post-consumer recycled plastics market, which is projected to reach a size of $21.75 billion by 2029, witnessing a compound annual growth rate (CAGR) of 6.3%.
The predicted growth during the forecast period can be ascribed to factors such as escalating concerns about worldwide plastic waste, implementation of Extended Producer Responsibility (EPR) programs, the prevalence of green labeling and certification, initiatives for consumer education and advocacy, the extension of collection infrastructure, and the impact of global sustainability objectives. The key trends anticipated during the forecast period encompass increasing awareness about plastic pollution, advancements in recycling technologies, governmental regulatory measures and policies, emphasis on closed-loop recycling systems, formulation of PCR content standards, cross-value chain collaborations, and financial incentives for recycling activities.
Which Factors Are Boosting Growth In The Post-Consumer Recycled Plastics Market?
The growth of the post-consumer recycled plastics market is anticipated to be propelled by a boost in demand for non-residential construction enterprises. Non-residential construction entails the construction of buildings, regardless of their permanence, that aren't designated for private use. Recycled plastics present a viable, low-emission alternative material for constructing these structures in various applications. Garbage made of plastic can be incorporated into green concrete as a component, for instance. Recyclable polymers can also serve as alternate for steel and brick. ConstructConnect, a company that provides construction data and project insights, reported in April 2023 that spending on non-residential construction increased significantly. The surge in spending year-to-date was 17.5%, with the manufacturing and lodging industries witnessing the most substantial growth. In particular, construction in manufacturing spiked by 53% and lodging increased by 38.8%. This growth mirrors wider patterns in non-residential advancement, answering to amplified demand in commercial, industrial and public infrastructure projects. Hence, the rise in demand for non-residential construction projects is fueling the post-consumer recycled plastics market.
What Key Areas Define The Segmentation Of The Global Post-Consumer Recycled Plastics Market?
The post-consumer recycled plastics market covered in this report is segmented –
1) By Type: Polypropylene (PP), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC), Polyurethane (PUR), Polyethylene Terephthalate (PET), Other Types
2) By Service: Collection And Transportation, Recycling, Incineration, Landfill
3) By End-Use: Packaging, Building And Construction, Automotive, Electronics, Furniture, Other End-Uses
Subsegments:
1) By Polypropylene (PP): Homopolymer PP, Copolymer PP
2) By Polystyrene (PS): General Purpose PS, High-Impact PS
3) By Polyethylene (PE): Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE)
4) By Polyvinyl Chloride (PVC): Rigid PVC, Flexible PVC
5) By Polyurethane (PUR): Flexible Foam, Rigid Foam
6) By Polyethylene Terephthalate (PET): Clear PET, Colored PET
7) By Other Types: Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Nylon (PA)
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How Are Emerging Trends Reshaping The Dynamics Of The Post-Consumer Recycled Plastics Market?
The post-consumer recycled plastics market is heavily influenced by technological innovation. Major players in this market are targeting the creation of adaptable new technological solutions, which is fostering the growth of technologies such as artificial intelligence (AI) powered sorting methods that promote the circular economy for recycled plastics. AMP Robotics, a company from Colorado specialising in AI-powered recycling solutions, is an example of this trend, launching an AI-driven system for the recovery of film and flexible packaging in October 2022. This pioneering piece of technology is designed to tackle the issue of sorting lightweight and pliable plastics that have proven historically challenging to recycle. To do so, it uses highly advanced machine learning algorithms to detect, choose and sort these tricky materials from mixed recycling streams, resulting in notable improvements in materials recovery rates and functional efficiency at recycling facilities.
Who Are the Key Players In The Post-Consumer Recycled Plastics Market?
Major companies operating in the post-consumer recycled plastics market include:
• Veolia Environnement SA
• Suez SA
• Biffa PLC
• DS Smith PLC
• Genpak LLC
• Envision Plastics Industries LLC
• Multiplast Systems Inc.
• KW Plastics Inc.
• Clear Path Recycling LLC
• Jayplas
• Delta Plastics
• Custom Polymers Inc.
• MBA Polymers Inc.
• Waste Management Inc.
• Republic Services Inc.
• Waste Connections Inc.
• Clean Harbors Inc.
• Remondis SE & Co. KG
• Stericycle Inc.
• Plastipak Holdings Inc.
• CarbonLITE Industries LLC
• Avangard Innovative LP
• B. Schoenberg & Co. Inc.
• Mohawk Industries Inc.
• Omachron Plastics Inc.
• Otto Environmental Systems Inc.
• Closed Loop Partners
• Ecoraster Inc.
• GridX LLC
• Braskem
What Is The Most Dominant Region In The Post-Consumer Recycled Plastics Market?
Asia-Pacific was the largest region in the post-consumer recycled plastics market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the post-consumer recycled plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
