Recycled Plastics Market by Types (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Polyvinyl Chloride (PVC), and Others), Sources (Plastic Bottles, Trays, Tubs, Polymer Foam, Plastic Films, Plastic Fivers, and Others), Methods (Heat Compression, Thermal Decomposition, Mechanical Pressing, Pyrolysis, Distributed Recycling, and Others), Applications (Construction, Packaging, Automotive, Electrical & Electronics, Textiles, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
The global recycled plastics market size was valued at around USD 28 billion in 2021 and is anticipated to reach around USD 45 billion by 2030, expanding at a CAGR of around 9% during the forecast period, 2022 – 2030. The growth of the market is attributed to the emergence of recycling technologies and growing acceptance of recycled plastics consumption in textile industry as fibers.
Plastic recycling refers to the process of recovering used plastic scarps and waste and reprocessing them into new products. Plastics are inexpensive, durable, and lightweight materials. They can be molded into various products to use in plethora of applications. Plastics cause litter and pollution, which are harmful to the environment. Reprocessing and repurposing used plastic prevents plastic waste, reduce dependency on landfills, conserve resources, and protect the environment from harmful plastic pollution and greenhouse gas emission.
Plastic waste collected from houses, businesses, and recycling centers goes to facilities that sorts plastic by different types. The sorted plastic waste is washed, shredded, melted, and extruded into new recycled plastic pellets. These recycled plastic pellets are used to create various products. It requires public, businesses, industries, waste collectors, transfer stations, and recycling facilities to work in unison for plastic recycling system to work efficiently. Rising awareness regarding negative effects of plastics waste on the environment and increasing use of recycled plastics in various industries is expected to drive the global recycled plastics market during the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Negative impact of plastic disposal on the environment drives the global recycled plastics market.
- Increasing awareness about advantages of using recycled plastics in packaging solutions for food & beverages, personal care, healthcare, and others is estimated to boost the market during the forecast period.
- Numerous government policies and initiative to increase recycling of used plastics is projected to spur the market in the coming years.
- Growing construction industries in developing countries fuels the market.
- Stringent competition from virgin plastics is expected to hamper the growth of the market in the forecast period.
- Rising usage of recycled plastic fibers in textile industry offers growth opportunities to the key market players.
Scope of the Report
The report on the global recycled plastics 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 |
Recycled Plastics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2019–2020 |
Forecast Period |
2022–2030 |
Segmentation |
Types (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Polyvinyl Chloride (PVC), and Others), Sources (Plastic Bottles, Trays, Tubs, Polymer Foam, Plastic Films, Plastic Fivers, and Others), Methods (Heat Compression, Thermal Decomposition, Mechanical Pressing, Pyrolysis, Distributed Recycling, and Others), and Applications (Construction, Packaging, Automotive, Electrical & Electronics, Textiles, and Others) |
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 in the Report |
PLASgran, Ltd.; Veolia Environment S.A.; Suez S.A.; B&B Plastics Recycling, Inc.; KW Plastics; Viridor, Ltd.; Custom Polymers, Inc.; Jayplas; CarbonLite Industries, LLC; Kuusakoski Group Oy; Waste Connections; Clear Path Recycling, LLC.; Green Line Polymers; Plastipak Holdings, Inc.; and Others |
Market Segment Insights
Polyethylene Terephthalate (PET) segment drives the market
Based on types, the market is divided into Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Polyvinyl Chloride (PVC), and others. The PET segment is expected to boost the market during the forecast period, owing to its large-scale in food-packaging and bottling. PET is lightweight, durable, non-toxic, and easy to recycle. These factors aid in expansion of the segment; thus, fueling the market. The Polyethylene (PE) segment is estimated to expand in the coming years, due to its increasing usage in various applications such as packaging, cutting boards, trash bins, and others. The Polypropylene (PP) segment is anticipated to expand during the forecast period, due to its increasing use in car parts, thermal vests, disposable diapers, and others.
Plastic bottles segment holds a large market share
On the basis of sources, the market is segregated into plastic bottles, trays, tubs, polymer foam, plastic films, plastic fivers, and others. The plastic bottles segment is projected to drive the market during the forecast period, as plastic bottles are the most recycled post-consumer plastics with better network for collecting and sorting. Most of the plastic bottles are made from PET resin, which has high recycling rate among the other types. The bottle segment is estimated to expand in the developing region, due to their easy availability.
Mechanical pressing fuels the market
In terms of methods, the market is segmented into heat compression, thermal decomposition, mechanical pressing, pyrolysis, distributed recycling, and others. The mechanical pressing segment is projected to hold a large market share during the forecast period, owing to easy and wide availability and low prices of equipment for mechanical pressing. The pyrolysis segment is anticipated to expand rapidly in the coming years, as it reduces risk of water pollution and greenhouse gas emission, and it is inexpensive than waste disposal to landfills.
Packaging application boosts the market
In terms of applications, the market is divided into construction, packaging, automotive, electrical & electronics, textiles, and others. The packaging application is expected to expand at a rapid pace during the forecast period, owing to increasing demand for packaged food & beverages across the globe. Rising application of recycled plastics in packaging segment, due to reduction in pollution, lesser dependency on fossil fluids, and sustainability drives the market. The construction segment is estimated to boost the market in the coming years, due to growing use of recycled polymer in numerous products related to construction. Increasing use of recycled plastic in automotive industry is estimated to surge the automotive segment and fuel the global recycled plastics market in the forecast period.
North America dominates the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to expand rapidly during the coming years, as various companies in the region are using recycled plastics in their products. The market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period, owing to rising domestic recycling rates in the region. Various government initiatives taken in the region drives the market in Asia Pacific.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Recycled Plastics Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Recycled Plastics Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Recycled Plastics Market - Supply Chain
4.5. Global Recycled Plastics Market Forecast
4.5.1. Recycled Plastics Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Recycled Plastics Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Recycled Plastics Market Absolute $ Opportunity
5. Global Recycled Plastics Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Recycled Plastics Market Size and Volume Forecast by Types
5.3.1. Polyethylene Terephthalate (PET)
5.3.2. Polyethylene (PE)
5.3.3. Polypropylene (PP)
5.3.4. Polystyrene (PS)
5.3.5. Polyvinyl Chloride (PVC)
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Recycled Plastics Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Recycled Plastics Market Size and Volume Forecast by Applications
6.3.1. Construction
6.3.2. Packaging
6.3.3. Automotive
6.3.4. Electrical & Electronics
6.3.5. Textiles
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Recycled Plastics Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Recycled Plastics Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Recycled Plastics Demand Share Forecast, 2019-2026
8. North America Recycled Plastics Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Recycled Plastics Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Recycled Plastics Market Size and Volume Forecast by Types
8.4.1. Polyethylene Terephthalate (PET)
8.4.2. Polyethylene (PE)
8.4.3. Polypropylene (PP)
8.4.4. Polystyrene (PS)
8.4.5. Polyvinyl Chloride (PVC)
8.4.6. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Recycled Plastics Market Size and Volume Forecast by Applications
8.7.1. Construction
8.7.2. Packaging
8.7.3. Automotive
8.7.4. Electrical & Electronics
8.7.5. Textiles
8.7.6. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Recycled Plastics Demand Share Forecast, 2019-2026
9. Latin America Recycled Plastics Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Recycled Plastics Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Recycled Plastics Market Size and Volume Forecast by Types
9.4.1. Polyethylene Terephthalate (PET)
9.4.2. Polyethylene (PE)
9.4.3. Polypropylene (PP)
9.4.4. Polystyrene (PS)
9.4.5. Polyvinyl Chloride (PVC)
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Recycled Plastics Market Size and Volume Forecast by Applications
9.7.1. Construction
9.7.2. Packaging
9.7.3. Automotive
9.7.4. Electrical & Electronics
9.7.5. Textiles
9.7.6. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Recycled Plastics Demand Share Forecast, 2019-2026
10. Europe Recycled Plastics Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Recycled Plastics Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Recycled Plastics Market Size and Volume Forecast by Types
10.4.1. Polyethylene Terephthalate (PET)
10.4.2. Polyethylene (PE)
10.4.3. Polypropylene (PP)
10.4.4. Polystyrene (PS)
10.4.5. Polyvinyl Chloride (PVC)
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Recycled Plastics Market Size and Volume Forecast by Applications
10.7.1. Construction
10.7.2. Packaging
10.7.3. Automotive
10.7.4. Electrical & Electronics
10.7.5. Textiles
10.7.6. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Recycled Plastics Demand Share Forecast, 2019-2026
11. Asia Pacific Recycled Plastics Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Recycled Plastics Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Recycled Plastics Market Size and Volume Forecast by Types
11.4.1. Polyethylene Terephthalate (PET)
11.4.2. Polyethylene (PE)
11.4.3. Polypropylene (PP)
11.4.4. Polystyrene (PS)
11.4.5. Polyvinyl Chloride (PVC)
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Recycled Plastics Market Size and Volume Forecast by Applications
11.7.1. Construction
11.7.2. Packaging
11.7.3. Automotive
11.7.4. Electrical & Electronics
11.7.5. Textiles
11.7.6. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Recycled Plastics Demand Share Forecast, 2019-2026
12. Middle East & Africa Recycled Plastics Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Recycled Plastics Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Recycled Plastics Market Size and Volume Forecast by Types
12.4.1. Polyethylene Terephthalate (PET)
12.4.2. Polyethylene (PE)
12.4.3. Polypropylene (PP)
12.4.4. Polystyrene (PS)
12.4.5. Polyvinyl Chloride (PVC)
12.4.6. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Recycled Plastics Market Size and Volume Forecast by Applications
12.7.1. Construction
12.7.2. Packaging
12.7.3. Automotive
12.7.4. Electrical & Electronics
12.7.5. Textiles
12.7.6. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Recycled Plastics Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Recycled Plastics Market: Market Share Analysis
13.2. Recycled Plastics Distributors and Customers
13.3. Recycled Plastics Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. PLASgran, Ltd.
13.4.2. Veolia Environment S.A.
13.4.3. Suez S.A.
13.4.4. B&B Plastics Recycling, Inc.
13.4.5. KW Plastics; Viridor, Ltd.
13.4.6. Custom Polymers, Inc.
13.4.7. Jayplas
13.4.8. CarbonLite Industries, LLC
13.4.9. Kuusakoski Group Oy
13.4.10. Waste Connections