Recycled Plastics Market to reach USD 57.71 Bn at a CAGR of 8.9 percent over the forecast period
The recycled Plastics Market is segmented based on Product, Plastic Type, Application, Type, and Process. A bottom-up approach was used to estimate the Recycled Plastics Market size. Increasing consumer awareness about Recycled Plastics is expected to boost the Recycled Plastics Market growth.
Maximize Market Research, a global Consumer Goods market research firm has published a market research report on the “Recycled Plastics Market”. The Recycled Plastics Market size was valued at USD 31.77 Bn in 2023. The total Recycled Plastics Market revenue is expected to grow at a CAGR of 8.9 percent from 2024 to 2030, reaching USD 57.71 Bn during the forecast period.
Recycled Plastics Market Report Scope and Research Methodology
Market Size in 2023: USD 31.77 Billion
Market Size in 2030: USD 57.71 Billion
CAGR: 8.9 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 240
No. of Tables: 138
No. of Charts and Figures: 191
Segment Covered: By Product, Plastic Type, Application, Process, and Type
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
Recycled Plastics Market Scope and Research Methodology
The report provides a comprehensive examination of the Recycled Plastics Market, including a detailed competitive analysis that highlights company profiles, financial status, product portfolios, and strategic initiatives of leading industry players. It also explores critical insights such as primary market drivers, challenges faced by stakeholders, and global growth prospects. Additionally, the report offers an in-depth assessment of market players’ investments aimed at expanding their global presence, making it a valuable tool for investors seeking market insights.
The report examines segments including Product, Plastic Types, Application, Process, and Type within the Recycled Plastics market. Data collection utilized both Primary and Secondary research methods, with Primary research serving to validate findings from the Secondary research. The size of the Recycled Plastics market was determined using a bottom-up approach for estimation.
Recycled Plastics Market Overview
The recycled plastics market has witnessed significant growth in recent years, driven by increasing environmental concerns, stringent regulations, and growing consumer awareness about sustainable practices. The market size continues to grow as industries across sectors, including packaging, automotive, construction, and electronics, increasingly adopt recycled plastics in their manufacturing processes. Rising environmental concerns, particularly regarding plastic pollution and waste management, have led to a surge in demand for recycled plastics. Governments globally are implementing stringent regulations and policies to promote recycling and reduce plastic waste, further fueling market growth.
Recycled Plastics Market Dynamics
Continual progress in recycling technologies has improved the efficiency and affordability of plastic recycling procedures. Innovations like refined sorting methods, chemical recycling, and mechanical recycling approaches are propelling the creation of recycled plastics of exceptional quality, akin to virgin Plastic Types. The global uptake of the circular economy model, advocating for the recycling and reutilization of Plastic Types within a closed-loop system, is gaining momentum. The trend is prompting businesses to embrace circular economy principles, resulting in increased demand for recycled plastics as companies aim to lessen their dependence on virgin Plastic Types and diminish environmental harm.
Recycled Plastics Market Regional Analysis
North America region held the largest Recycled Plastics Market share accounting maximum percent in 2023 and is expected to dominate the market through the forecast period. The North American recycled plastics market has experienced significant growth in recent years, driven by increasing environmental awareness, stringent regulations, and growing demand for sustainable Plastic Types. The market size continues to increase as industries across various sectors, including packaging, automotive, consumer goods, and construction, adopt recycled plastics in their manufacturing processes.
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Recycled Plastics Market Segmentation
By Product
- Bottles
- Films
- Fibers
- Foams
- Others
Based on Product, the market is segmented into Bottles, Films, Fibers, Foams, etc. Bottles, especially those made from PET (polyethylene terephthalate) and HDPE (high-density polyethylene), are widely used in packaging for beverages, household products, and personal care items. The high volume of usage translates to a significant supply of plastic bottles available for plastic recycling.
By Plastic Type
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Polystyrene (PS)
Based on Plastic Type, the market is segmented into Polyethylene terephthalate, polyethylene, polyvinyl chloride, etc. In 2023, the Polyethylene Terephthalate segment has maintained its dominance in the Recycled Plastics market, capturing a substantial share. PET (polyethylene terephthalate) and HDPE (high-density polyethylene), are widely recycled owing to their prevalence in packaging for beverages, household products, and personal care items. These plastics are relatively easy to collect, sort, and recycle into new products.
By Application
- Packaging
- Building & Construction
- Textile
- Automotive
- Electrical & Electronics
- Others
Based on Application, the market is segmented into Packaging, Building and construction, Textile, Automotive, Electrical and electronics, etc. Packaging is one of the largest and most established markets for recycled plastics. Recycled plastics, particularly PET and HDPE, are widely used in packaging applications for beverages, food products, household items, and personal care products. The demand for recycled plastics in packaging is driven by sustainability goals, consumer awareness, and regulatory pressures to reduce plastic waste.
By Process
- Mechanical
- Chemical
Based on Process, the market is segmented into Mechanical and Chemical. Mechanical recycling processes, such as sorting, cleaning, shredding, and melting, have been well-established and widely implemented in the Plastic recycling industry. There’s a significant infrastructure in place for collecting, sorting, and processing plastic waste through mechanical recycling.
By Type
- Post-Consumer Recyclate
- Industrial Recyclate
Based on Type, the market is segmented into Post-consumer recyclate and Industrial Recyclate. Post-consumer Recyclate refers to recycled plastics derived from products that have been used and discarded by consumers. These include items like plastic bottles, packaging, containers, and other consumer goods.
Recycled Plastics market key players include
- Clear Path Recycling
- Suez Environment
- Indorama Ventures
- Saudi Investment Recycling
- Lar Plásticos
- Plastipak
- Jayplas
- Far Eastern New Century
- Tadweer Group
- Republic Services
- Biffa
- Asia Plastic Recycling Holdings
- Renie
- Stericycle
- Remondis
- Jeplan
- Kaltani
- Schoenberg
- Plastic Recycling Amsterdam
- KK Plastic Waste Management
- Pakam
- Waste Connections
- Resiclo
- Srichakra Polyplast
- MBA Polymers
- XXX
Key questions answered in the Recycled Plastics Market are:
- What are Recycled Plastics Market?
- What was the Recycled Plastics market size in 2024?
- What is the expected Recycled Plastics market size by 2030?
- What is the demand pattern for the Recycled Plastics market?
- Which region held the largest share in the Recycled Plastics market?
- Who are the key players in the Recycled Plastics market?
- What is the growth rate of the Recycled Plastics Market?
- Which are the factors expected to drive the Recycled Plastics market growth?
- Which segment dominated the Recycled Plastics market growth?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Product, Plastic Type, Application, Process, and type.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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