What Does the Historical and Current Recycled Plastics Market Size Trend Indicate?
The recycled plastics market has seen considerable growth due to a variety of factors.
• The market size for recycled plastics has been experiencing steady growth over the past few years. The market is projected to increase from $54.16 billion in 2024 to $56.75 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.8%.
This growth during the historical period is mostly due to heightened environmental consciousness, government policies, recycling of electronic waste, consumer demand, and sustainable supply chains.
How Will the Recycled Plastics Market Size Evolve over the Forecast Period?
The recycled plastics market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust growth is expected on the horizon for the recycled plastics market. The market is projected to expand to a value of $70.02 billion by 2029, with a compound annual growth rate (CAGR) of 5.4%.
Drivers propelling this growth in the forecast period are circular economy initiatives, corporate sustainability objectives, the reduction of plastic waste, the emergence of bioplastics and hybrid materials, as well as sustainable packaging solutions. Advanced recycling technologies, eco-friendly packaging, the conversion of plastic to fuel, e-waste recycling and sustainable fashion represent the key trends within the forecast period.
What Are The Core Factors Supporting Growth In The Recycled Plastics Market?
The escalation in e-commerce operations is predicted to spur the expansion of the recycled plastics market. Various transaction models, online purchases, sales, and digital payments are part of e-commerce activities, causing a revolution in commerce via the internet. Recycled plastics are progressively employed in e-commerce packaging, such as protective materials, shipping boxes, and mailers, to curtail waste and lessen the environmental implication from online retail. For instance, a report released by the U.S. Census Bureau, a segment of the United States Department of Commerce, disclosed that retail e-commerce sales in the United States during the third quarter of 2023 reached around $284.1 billion. This represented a 2.3% growth relative to the second quarter of 2023. Consequently, the swift rise in e-commerce operations will fuel the enlargement of the recycled plastics market.
What Are The Major Segments Within The Global Recycled Plastics Market?
The 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
Subsegments:
1) By Polyethylene Terephthalate (PET): Post-Consumer Recycled PET (rPET), Post-Industrial Recycled PET
2) By Polyvinyl Chloride (PVC): Rigid PVC, Flexible PVC
3) By Polyethylene (PE): High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE)
4) By Polypropylene (PP): Homopolymer PP, Copolymer PP
5) By Polystyrene (PS): Expanded Polystyrene (EPS), High-Impact Polystyrene (HIPS)
6) By Other Types: Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC)
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Which Trends Are Expected To Transform The Recycled Plastics Market?
The rise in technological advancements is a prominent trend emerging in the recycled plastics market. The principal corporations present in the recycled plastics market are concentrating on devising new technological innovations to solidify their market standing. For instance, in February 2024, ChemCycling, a breakthrough initiative launched by BASF SE, a German chemical enterprise, cleverly spins plastic waste into precious raw materials via chemical recycling. This supports sustainability and circular economy efforts by substituting plastic production's fossil-based resources.
Who Are the Key Players in the Recycled Plastics Market?
Major companies operating in the recycled plastics market include:
• 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.
What Is The Most Dominant Region In The Recycled Plastics Market?
Asia-Pacific was the largest region in the recycled plastics market in 2024. North America is 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.
