Segments - by Type (PP Resin, PE Resin, PS Resin, PVC Resin, ABS Resin, PET Resin, PA Resin), by Application (Packaging, Automotive, Construction, Textiles, Household Goods, Electronics, Agriculture, Others), by Technology (Mechanical Recycling, Chemical Recycling, Biological Recycling, Recycling Process)
The global Post Consumer Resin (PCR) market was estimated at USD 56,955.28 Million in 2023 and is anticipated to reach USD 107,439.56 Million by 2032, expanding at a CAGR of 7.7% during the forecast period.
Recycled plastic is also known as post-consumer resin (PCR). Plastic waste is collected, sorted, and reused to produce a wide range of new packaging products. This includes ocean plastics, which are post-consumer resins derived from plastics destined for the oceRecycled content is the proportion (by mass-weight) of recycled material used in packaging (International Standards Organization 14021). It is in the form of either post-consumer recycled content (PCR) or pre-consumer (or post-industrial) recycled content (PIR).
PCR is currently used in various plastic packaging applications, both flexible and rigid packaging, including some of the challenging categories such as food, beverage, and medicinal products (albeit with tight controls and testing for these types of packages).
The research report finds that the COVID-19 pandemic has a significant impact on the distribution, transportation, and manufacturing of Post Consumer Resin (PCR). Lockdowns and travel restrictions disrupted the flow of raw materials and finished products. Manufacturing slowdown and limited transportation options caused shortages of Post Consumer Resin (PCR) in some regions. Production lines shifted focus to meet the urgent demand for Personal Protective Equipment (PPE) for workers, leading to temporary shortages of Post Consumer Resin (PCR). The pandemic raised public awareness about environmental issues, including plastic pollution. This resulted in a growing demand for sustainable products made from recycled materials, which is increasing PCR usage.
Artificial intelligence (AI) can have a significant impact on the global Post Consumer Resin (PCR) market, influencing every aspect from manufacturing to distribution strategies. AI tools monitor recycling equipment to predict and prevent breakdowns, ensuring uninterrupted operations. AI platforms use logistics, inventory, and demand data to improve post-consumer waste collection and transportation. This impacts Reduces costs while ensuring a consistent supply of raw materials for PCR production. AI-powered systems ensure the consistent quality of recycled resins by detecting impurities during the processing step. Encourages the wider use of PCR in industries such as packaging, automotive, and consumer goods.
Consumer spending refers to the total amount of money spent on final goods and services by individuals and households within an economy. The demand for consumer goods made from PCR has significantly increased due to growing awareness of environmental issues and boosted sustainable practices. Bottles, containers, and bags made of recycled plastic are becoming common products in the PCR market. For instance, consumer spending is increasing; however, at a slower rate than before. In June 2023, growth was 5% year on year, compared to 9% in June 2022. Companies, that use PCR in their products, position themselves as environmentally friendly, which in turn, boosts brand image and consumer loyalty. This is especially important in markets where customers value sustainability.
The packaging industry makes excellent use of plastic's properties. Approximately 36% of all plastic produced each year is used to manufacture various types of packaging, ranging from food and beverages to medicines and drugs. The use of recycled plastic in packaging appears to be the most reasonable response to growing concerns about plastic pollution, as alternatives to plastic have already been used successfully on a large scale. The demand for PCR is expected to increase in the coming years as recycling technologies improve and consumer awareness of environmental issues grows.
Bottles: Water bottles, beverage bottles, and cleaning product bottles
Containers: Food containers, cosmetic containers, and personal care product containers
Films: Lamination films, shrink films, and bubble wrap
Bags: Shopping bags, produce bags, and garbage bags
The cost of processing PCR surpasses that of virgin plastics, especially in areas with limited recycling infrastructure. The post-consumer resin (PCR) market is hampered by rising raw material prices as a result of poor recycling infrastructure, growing ignorance about the significance of sustainability in some emerging economies, and a growing shift toward non-plastic packaging solutions.
The rapid industrialization and economic growth of emerging economies have led to a significant increase in plastic consumption. This surge has posed a growing challenge for plastic waste management. The e-commerce industry has the potential for further growth as new technologies and business models emerge to meet shifting consumer demands. The traditional retail landscape is expected to change in the coming years, as more people shop online.
The report on the global Post Consumer Resin (PCR) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Post Consumer Resin (PCR) Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2023 |
Historic Data |
2017–2022 |
Forecast Period |
2024–2032 |
Segmentation |
By Type (PP Resin, PE Resin, PS Resin, PVC Resin, ABS Resin, PET Resin, and PA Resin), Application (Packaging, Automotive, Construction, Textiles, Household Goods, Electronics, Agriculture, and Others), Technology (Mechanical Recycling, Chemical Recycling, Biological Recycling, and Recycling Process) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
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. |
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 hold a 41.89% market share in 2023. PET resin is distinguished by its high clarity, which allows for clear and appealing packaging, as well as its recyclability, making it an environmentally friendly choice for manufacturers.
On the basis of application, the Post Consumer Resin (PCR) market is segregated into Packaging, Automotive, Construction, Textiles, Household Goods, Electronics, Agriculture, and Others. The Packaging segment is expected to grow at a CAGR of 8.1% over the forecast period. PCR helps to reduce the dependency on virgin plastics, making packaging more sustainable. Post-Consumer Resin (PCR) is commonly used for producing new plastic bottles, containers, drums, pipes, fittings, and flexible packaging solutions for a variety of applications.
Based on technology, the Post Consumer Resin (PCR) market is classified as Recycling Process, Mechanical Recycling, Chemical Recycling, and Biological Recycling. The Mechanical Recycling segment is expected to have a market share of 82.8% in 2023, growing at a CAGR of XX% over the forecast period. Mechanical recycling is often less expensive than chemical recycling methods, making it an appealing option for manufacturers looking to meet sustainability targets while keeping costs under control.
On the basis of region, the global Post Consumer Resin (PCR) market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA).
North America's market is expected to grow at a 7.7% CAGR over the forecast period, owing to the region's highly developed healthcare infrastructure. Furthermore, technological advances in recycling procedures improve the quality and efficiency of PCR production. Furthermore, consumers are increasingly likely to use products made from recycled materials, particularly in the consumer goods and packaging industries.
Asia Pacific accounted for an 8.4% share of the market in 2023, due to the rising need for recycled plastics in construction, automotive, and packaging applications, the Asia Pacific region has the largest PCR market. Furthermore, increased investment in recycling infrastructure by economies such as China and Japan have contributed significantly to this expansion.
In-depth Analysis of the Global Post Consumer Resin (PCR) Market
Historical, Current, and Projected Market Size in terms of Value
otential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Post Consumer Resin (PCR) Market Performance
Manufacturers operating in the global Post Consumer Resin (PCR) market include Dow; Plastipak Holdings Inc.; Nexeo Plastics LLC; EFS Plastics; Merlin Plastics; KW Plastics; and Vogt-Plastic.
Market players are pursuing key strategies such as acquisitions, collaborations, and geographic expansion where a potential opportunity arises for the Post Consumer Resin (PCR) market.
In June 2024, Dow announced plans to acquire Circulus, a company that recycles plastic waste into post-consumer resin (PCR). Dow's materials science and high-performance resin expertise will be combined with Circulus' advanced mechanical film recycling capabilities as a result of this acquisition. As a result, Dow will expand its product line to include applications such as collation shrink packaging, stretch film, liners, and select food packaging, boosting its presence in the industrial, consumer, and transportation markets.
Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Stringent Government Regulations, Rising Awareness of Products Among Consumers, and Growing Demand for PCR Material in the Packaging Industry are the factors driving the growth of the Post Consumer Resin (PCR) market.
According to this Growth Market Reports report, the Post Consumer Resin (PCR) market is likely to register a CAGR of 7.7% during the forecast period 2024-2032, with an anticipated valuation of USD 107,439.6 million by the end of 2032.
Packaging is the end-user of Post Consumer Resin (PCR) market.
Consumer Spending, Economic Growth, Global Supply Chain Dynamics, and Government Policies and Regulations are expected to act as macroeconomic factors for the market.
Dow; Plastipak Holdings Inc.; Nexeo Plastics LLC; EFS Plastics; Merlin Plastics; KW Plastics; Vogt-Plastic; Others.
The COVID-19 pandemic developed both challenges and opportunities for the Post Consumer Resin (PCR) market. During the pandemic's early stages, supply chain disruptions hampered market activity. However, many governments have implemented policies and regulations to encourage recycling and reduce plastic waste. These initiatives have created a favorable environment for PCR adoption, which is expected to drive demand for Post Consumer Resin (PCR) during the forecast period. The Post Consumer Resin (PCR) market is expected to grow steadily due to the ongoing demand for PCR.
In addition to market size (in USD Million) company market share (in % for the base year 2023) is available in the report. Moreover, additional data analysis can be provided on request.
The base year considered for the global Post Consumer Resin (PCR) market report is 2023. The complete analysis period is 2017 to 2032, wherein, 2017, and 2022 are the historic years, and the forecast is provided from 2024 to 2032.