All updated as on -
By 2030, the global market for recycled plastics is projected to be worth USD 70.38 billion, with a CAGR of 6.1% between 2022 and 2030.
Instead of being thrown in landfills or the environment, recycled plastic is collected, cleaned, and repurposed. The manufacture of plastic causes significant environmental harm; recycling plastic helps mitigate this by reducing the need for new plastic, saving resources, and reducing waste. Plastic bottles, jars, containers, packing materials, furniture, textiles, auto parts, and much more can all be crafted from recycled plastic pellets. The pellets are melted down and formed into the desired form, or they are extruded into sheets or fibres. There are several ecological benefits to recycling plastic. It helps to conserve materials like petroleum, which is used in the production of plastic.
The market for recycled plastic has been affected in both positive and negative ways by the COVID-19 pandemic. During the pandemic, governments all over the world imposed restrictions that disrupted supply chains, including the collection and processing of plastic waste. Lack of labour, temporary shutdown of recycling facilities, and travel restrictions all played a role in slowing down the collecting and processing of recycled plastic. The worldwide crisis also affected the demand for recycled plastic. Supply chains relying on recycled plastic saw demand fall as manufacturing, construction, and the auto industries slowed down and cut output. The drop in demand had an immediate effect on the market. The outbreak caused a shift in consumer behaviour, with more emphasis placed on personal hygiene. This trend towards disposable items and single-use packaging may have an impact on the demand for recycled plastic goods. Although the COVID-19 pandemic caused short-term delays and challenges in the recycled plastic business, the industry's long-term prognosis remains optimistic. Investments in recycling infrastructure and technology in response to a growing market for recycled plastic products point to a sustainable future for plastic waste management and the promotion of a circular economy.
Market-Driving Factors
The market for recycled plastic has exploded in recent years on the back of greater environmental awareness, increased demand for sustainable goods, and government schemes encouraging recycling and the circular economy. More and more people are beginning to realise the extent to which plastic trash pollutes oceans and destroys ecosystems. As a result of this education, there has been a dramatic increase in the demand for environmentally friendly and sustainable goods, especially those made from recycled plastic. Recycling plastic is one way that many companies and brands are working towards their environmental goals. These claims are motivated by consumer demand, brand reputation, and the wish to reduce environmental impact. Market growth is encouraged by the use of recycled plastic by major corporations. Large sums of money have been invested in the market for recycled plastic in recent years. Businesses and governments alike are investing in recycling facilities, R&D, and capacity growth. These expenditures help the market grow by increasing the efficiency and reach of recycling efforts.
Important Problems in the Market
Although demand for recycled plastics is rising, the industry is still struggling to overcome a number of challenges. Due to insufficient recycling infrastructure and collecting methods, the market for recovered plastics may face growth hurdles. A lack of recycling infrastructure or restricted access to recycling programmes may result in lower collection rates and less easily available recovered plastics in some places. There may be technological barriers that prevent the widespread usage of recycled plastics. For instance, the complexity of recycling means that there are fewer options for particular plastic polymers. However, recycled plastics may have other differences from virgin plastics that prevent their use in high-performance settings.
Polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, and polystyrene are the five main product categories in the global recycled plastics industry. Over the next few years, the polyethylene sector is expected to maintain its dominant position in the market. Increasing environmental consciousness, recycling mandates, and consumer demand for environmentally friendly products have all contributed to the sector's growth. Many companies are incorporating polyethylene into their production processes to meet environmental goals and customer expectations. Since polyethylene products are in such great demand and have so much potential for reuse, they play an important role in the market for recovered plastics. The market for propylene is expected to expand at a particularly rapid clip in the coming years. Plastics, synthetic fibres, solvents, and chemical intermediates are just few of the many products that use propylene as a key component. Economic growth, industrial activity, consumer demand for plastic items, and general market conditions are all factors that might affect the need for propylene.
The global market for recycled plastics can be broken down into various submarkets based on the type of plastic used to make the product. The plastic bottles subsegment is expected to grow at the fastest rate. As more and more people become concerned about the environment, recycled polyethylene terephthalate (rPET) bottles have become popular. Many organisations and people are looking at waste reduction and recycling programmes that use less plastic. However, polymer foam is expected to develop at the fastest rate in the industry. Polymer foam can be recycled using a process called "foam compounding." This method involves mixing small bits of polymer foam with recycled plastic pellets or granules. Foam with certain properties can then be created by further processing the resulting combination. The recycling plastic's mechanical properties and density are enhanced throughout the mixing process, expanding its usefulness.
Report Coverage
Global Recycled Plastics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Recycled Plastics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Recycled Plastics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Recycled Plastics market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Recycled Plastics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Recycled Plastics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Custom Polymers (United States), B&B Plastics Inc. (United States), B. Schoenberg & Co., Inc. (United States), Envision Plastics (United States), Jayplas (United Kingdom), Joe's Plastics (United States), K K Asia (HK) Ltd. (Hong Kong), Berry Global Inc. (United States), MBA Polymers Inc. (United States), Plastipak Holdings, Inc. (United States), SUEZ (France), Ultra-Poly Corporation (United States), Veolia (France), KW Plastics (United States), Birch Plastics Inc. (United States), RJM International, Inc. (United States), Asia Plastics Renewable Resources Holdings Co., Ltd. (China), Clear Path Recycling (United States), Green Line Polymers (United States), Imerys (France).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Recycled Plastics market based on the below-mentioned segments:
Global Recycled Plastics Market, By Type
Sheet/Board
Sealant
Mortar
Spray
Putty
Global Recycled Plastics market, By Application
Commercial
Industrial
Residential
Global Recycled Plastics market, Regional Analysis
Instead of being thrown in landfills or the environment, recycled plastic is collected, cleaned, and repurposed. The manufacture of plastic causes significant environmental harm; recycling plastic helps mitigate this by reducing the need for new plastic, saving resources, and reducing waste. Plastic bottles, jars, containers, packing materials, furniture, textiles, auto parts, and much more can all be crafted from recycled plastic pellets. The pellets are melted down and formed into the desired form, or they are extruded into sheets or fibres. There are several ecological benefits to recycling plastic. It helps to conserve materials like petroleum, which is used in the production of plastic.
The market for recycled plastic has been affected in both positive and negative ways by the COVID-19 pandemic. During the pandemic, governments all over the world imposed restrictions that disrupted supply chains, including the collection and processing of plastic waste. Lack of labour, temporary shutdown of recycling facilities, and travel restrictions all played a role in slowing down the collecting and processing of recycled plastic. The worldwide crisis also affected the demand for recycled plastic. Supply chains relying on recycled plastic saw demand fall as manufacturing, construction, and the auto industries slowed down and cut output. The drop in demand had an immediate effect on the market. The outbreak caused a shift in consumer behaviour, with more emphasis placed on personal hygiene. This trend towards disposable items and single-use packaging may have an impact on the demand for recycled plastic goods. Although the COVID-19 pandemic caused short-term delays and challenges in the recycled plastic business, the industry's long-term prognosis remains optimistic. Investments in recycling infrastructure and technology in response to a growing market for recycled plastic products point to a sustainable future for plastic waste management and the promotion of a circular economy.
Market-Driving Factors
The market for recycled plastic has exploded in recent years on the back of greater environmental awareness, increased demand for sustainable goods, and government schemes encouraging recycling and the circular economy. More and more people are beginning to realise the extent to which plastic trash pollutes oceans and destroys ecosystems. As a result of this education, there has been a dramatic increase in the demand for environmentally friendly and sustainable goods, especially those made from recycled plastic. Recycling plastic is one way that many companies and brands are working towards their environmental goals. These claims are motivated by consumer demand, brand reputation, and the wish to reduce environmental impact. Market growth is encouraged by the use of recycled plastic by major corporations. Large sums of money have been invested in the market for recycled plastic in recent years. Businesses and governments alike are investing in recycling facilities, R&D, and capacity growth. These expenditures help the market grow by increasing the efficiency and reach of recycling efforts.
Important Problems in the Market
Although demand for recycled plastics is rising, the industry is still struggling to overcome a number of challenges. Due to insufficient recycling infrastructure and collecting methods, the market for recovered plastics may face growth hurdles. A lack of recycling infrastructure or restricted access to recycling programmes may result in lower collection rates and less easily available recovered plastics in some places. There may be technological barriers that prevent the widespread usage of recycled plastics. For instance, the complexity of recycling means that there are fewer options for particular plastic polymers. However, recycled plastics may have other differences from virgin plastics that prevent their use in high-performance settings.
Polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, and polystyrene are the five main product categories in the global recycled plastics industry. Over the next few years, the polyethylene sector is expected to maintain its dominant position in the market. Increasing environmental consciousness, recycling mandates, and consumer demand for environmentally friendly products have all contributed to the sector's growth. Many companies are incorporating polyethylene into their production processes to meet environmental goals and customer expectations. Since polyethylene products are in such great demand and have so much potential for reuse, they play an important role in the market for recovered plastics. The market for propylene is expected to expand at a particularly rapid clip in the coming years. Plastics, synthetic fibres, solvents, and chemical intermediates are just few of the many products that use propylene as a key component. Economic growth, industrial activity, consumer demand for plastic items, and general market conditions are all factors that might affect the need for propylene.
The global market for recycled plastics can be broken down into various submarkets based on the type of plastic used to make the product. The plastic bottles subsegment is expected to grow at the fastest rate. As more and more people become concerned about the environment, recycled polyethylene terephthalate (rPET) bottles have become popular. Many organisations and people are looking at waste reduction and recycling programmes that use less plastic. However, polymer foam is expected to develop at the fastest rate in the industry. Polymer foam can be recycled using a process called "foam compounding." This method involves mixing small bits of polymer foam with recycled plastic pellets or granules. Foam with certain properties can then be created by further processing the resulting combination. The recycling plastic's mechanical properties and density are enhanced throughout the mixing process, expanding its usefulness.
Report Coverage
Global Recycled Plastics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Recycled Plastics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Recycled Plastics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Recycled Plastics market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Custom Polymers (United States), B&B Plastics Inc. (United States), B. Schoenberg & Co., Inc. (United States), Envision Plastics (United States), Jayplas (United Kingdom), Joe's Plastics (United States), K K Asia (HK) Ltd. (Hong Kong), Berry Global Inc. (United States), MBA Polymers Inc. (United States), Plastipak Holdings, Inc. (United States), SUEZ (France), Ultra-Poly Corporation (United States), Veolia (France), KW Plastics (United States), Birch Plastics Inc. (United States), RJM International, Inc. (United States), Asia Plastics Renewable Resources Holdings Co., Ltd. (China), Clear Path Recycling (United States), Green Line Polymers (United States), Imerys (France). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Recycled Plastics Market from 2021 to 2030.
- Market Forecast for Recycled Plastics Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Recycled Plastics competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Recycled Plastics
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Recycled Plastics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Recycled Plastics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Custom Polymers (United States), B&B Plastics Inc. (United States), B. Schoenberg & Co., Inc. (United States), Envision Plastics (United States), Jayplas (United Kingdom), Joe's Plastics (United States), K K Asia (HK) Ltd. (Hong Kong), Berry Global Inc. (United States), MBA Polymers Inc. (United States), Plastipak Holdings, Inc. (United States), SUEZ (France), Ultra-Poly Corporation (United States), Veolia (France), KW Plastics (United States), Birch Plastics Inc. (United States), RJM International, Inc. (United States), Asia Plastics Renewable Resources Holdings Co., Ltd. (China), Clear Path Recycling (United States), Green Line Polymers (United States), Imerys (France).
Primary Target Market
- Market Players of Recycled Plastics
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Recycled Plastics market based on the below-mentioned segments:
Global Recycled Plastics Market, By Type
Sheet/Board
Sealant
Mortar
Spray
Putty
Global Recycled Plastics market, By Application
Commercial
Industrial
Residential
Global Recycled Plastics market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive recycled plastics market market research and competitor analysis for your business to help you develop more profound insights into the recycled plastics market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the recycled plastics market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.