Global Post Consumer Resin (PCR) Market Anticipated to Reach US$ 107,439.56 Million by 2032

According to a recent market study published by Growth Market Reports, titled, “Global Post Consumer Resin (PCR) Market By Type, By Application, By Technology, and By Region: Size, Share, Trends and Opportunity Analysis, 2017-2032”, the market was valued at US$ 56,955.28 Million in 2023 and is anticipated to expand at a growth rate of 7.7% by 2032.

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Recycled plastic is also called post-consumer resin (PCR). Plastic waste is collected, sorted, and recycled to create a variety of new packaging products. PCR is currently used in a variety of plastic packaging applications, both flexible and rigid, including some of the most difficult categories, such as food, beverage, and medicinal products (albeit with strict controls and testing for these packages).

The Global Post Consumer Resin (PCR) Market has been segmented in terms of type, application, and technology. In terms of type, the global post consumer resin (PCR) Market is segmented into PP Resin, PE Resin, PS Resin, PVC Resin, ABS Resin, PET Resin, and PA Resin. On the basis of application, the market is segregated into packaging, automotive, construction, textiles, household goods, electronics, agriculture, and others. Based on technology, the market is classified as mechanical recycling, chemical recycling, biological recycling, and recycling process. Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The COVID-19 pandemic created both challenges and opportunities for the Post Consumer Resin (PCR) market. The market was hampered in the early stages of the pandemic due to supply chain disruptions and production halts. However, the pandemic increased public awareness of environmental issues, such as plastic pollution. This has resulted in a growing demand for sustainable products made from recycled materials, and increased PCR usage is expected to drive demand for electrosurgical pencils over the forecast period. The Post Consumer Resin (PCR) market is poised for steady growth, due to constant technological advancements, a growing surgical procedure base, and an increasing emphasis on surgical safety.

Key Takeaways from the Study:

• Players in the Global Post Consumer Resin (PCR) Market include Dow; EFS Plastics; Envision Plastics (Altium Packaging); Greenpath Recovery; KW Plastics; LAVERGNE, Inc.; Merlin Plastics; Nexeo Plastics, LLC; Plastipak Holdings, Inc.; Plastrec; St. Joseph Plastics; Sustainable Resins; Tradepro; Vogt-Plastic, and others.

• Based on type, the Post Consumer Resin (PCR) market is segmented into PP Resin, PE Resin (LDPE Resin, HDPE Resin), PS Resin, PVC Resin, ABS Resin, PET Resin, and PA Resin. The PET Resin segment is expected to expand at a CAGR of 7.7% during the forecast period, due to its strength, durability, and ability to withstand moisture and impact, it is mainly utilized in the manufacturing of food containers, beverage bottles, and packaging materials.

• In terms of application, the Post Consumer Resin (PCR) market is segmented into packaging, automotive, construction, textiles, household goods, electronics, agriculture, and others. The packaging segment held a 66.4% share of the market in 2023, Post-Consumer Resin (PCR) is a common material in the packaging industry for creating new plastic bottles, containers, and flexible packaging materials like wraps and films. By reducing reliance on virgin plastics, PCR contributes to more sustainable packaging.

• On the basis of technology, the Post Consumer Resin (PCR) market is segmented into Recycling Process, Mechanical Recycling, Chemical Recycling, and Biological Recycling. The Mechanical Recycling segment held an 82.8% share of the market in 2023 and is expected to expand at a CAGR of 7.2% during the forecast period as Mechanical recycling preserves the resources, minimizes waste, and lessens the environmental effect of making new polymers from virgin ingredients.

• Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). North America accounted for 18.0% of the market in 2022 and is projected to grow at a CAGR of 7.7% over the forecast period. The quality and efficiency of PCR production are being improved by technical developments in recycling procedures.

Key Developments

• In June 2024, Dow introduced its innovative REVOLOOP-Recycled Plastics Resins, a significant step looking forward in the company's efforts to promote circularity and repurpose waste. The new REVOLOOP Plastics Resins come in two grades, each approved for non-food contact packaging. One grade is made from 100% post-consumer recycled (PCR) materials, while the other includes up to 85% PCR derived from household waste.

Report Scope:

Target Audience:

• Supply-side: Manufacturers, End-users/Applications

• Regulatory Side: Association of Plastic Recyclers (APR), European Union (EU), Food Safety and Standards Authority of India (FSSAI), and Others