Global Recycled Plastics market share 2024, Forecast To 2033
9 Feb, 2024
The recycled plastics market has experienced steady growth, increasing from $52.03 billion in 2023 to $54.52 billion in 2024, with a compound annual growth rate (CAGR) of 4.8% in the historic period. This growth is attributed to heightened environmental awareness, government regulations, e-waste recycling initiatives, increasing consumer demand, and a focus on supply chain sustainability. The market is expected to sustain steady growth, projecting a size of $65.65 billion in 2028 at a consistent CAGR of 4.8%. Key trends in this period include advanced recycling technologies, eco-friendly packaging solutions, plastic-to-fuel conversion methods, e-waste recycling initiatives, and the promotion of sustainable fashion.
Global Recycled Plastics Market Key Driver
The growth of the recycled plastics market is anticipated, propelled by investors' heightened awareness of environmental protection. Environmental protection gains significance as a global priority, prompting investors to favor businesses contributing to sustainability. The study by Mastercard Inc. indicates a significant shift, with 58% of adults more aware of their environmental impact in 2021. This shift in consumer sentiment aligns with the rising importance of recycled plastics, positioning the market for considerable expansion in the coming years.
Get A Free Sample Of The Global Recycled Plastics Market ReportGlobal Recycled Plastics Market Segments
The global recycled plastics market covered in this report is segmented –
1) By Type: Polyethylene Terephthalate, Polyvinyl Chloride, Polyethylene, Polypropylene, Polystyrene, Other Types
2) By Source: Plastic Bottles, Plastic Films, Plastic Foams, Plastic Fibers, Other Sources
3) By Application: Packaging, Textile, Automotive, Building And Construction, Electrical And Electronics, Other Applications
By Geography: The regions covered in the Recycled Plastics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the recycled plastics market in 2023. North Americais expected to be the fastest-growing region in the recycled plastics market share during the forecast period. The regions covered in the recycled plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Recycled Plastics Industry Players
Rethmann SE & Co. KG, Biffa Waste Services Limited, Stericycle Inc., Veolia India Private Limited, Jayplas Limited, KW Plastics, MBA Polymers Inc, Waste Connections Inc., Clean Harbors Inc, Suez India Private Limited, Plastic Recycling Inc., UltrePET LLC, Greenotech Recycling Private Limited., Advanced Environmental Recycling Technologies Inc., Alpek S.A.B. de C.V., B. Schoenberg & Co Inc., B&B Plastics Recycling Inc., Berry Global Inc., CABKA North America Inc., CarbonLite Industries LLC, Custom Polymers Inc., Dart Container Corporation., Delta Plastics of the South LLC, ECO-Cycle Solutions LLC, Emco Industrial Plastics Inc., Envision Plastics LLC, Far Eastern New Century Corporation, Fresh Pak Corporation, GDB International Inc.
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Recycled Plastics Market Overview
Recycled plastic is defined as plastic that has undergone decontamination as part of the recycling process, as well as plastic that has undergone further post-processing but has not yet been converted into recycled plastic products. It involves collecting used plastic waste and turning it into brand-new, functional plastic items. More than a trillion pounds of plastic are produced and used globally. This enormous volume of plastic is recycled to guarantee that it is not wasted. The recycled plastics are used in the manufacturing of containers for beauty products, new plastic bottles, and durable plastics such as plant holders.
Recycled Plastics Global Market Report 2023 provides data on the global recycled plastics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The recycled plastics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.