Recycled Plastics Market Report

Attractive Opportunities

?Global Demand Analysis & Sales Opportunities in Recycled Plastics Market 

• The annual demand for recycled plastics was USD 75.7 billion in 2024 and is expected to reach USD 81.7 billion in 2025, up 7.9% than the value in 2024.
• During the next 8 years (forecast period of 2025-2032), the recycled plastics market is expected to grow at a CAGR of 7.7%. The annual demand will reach USD 137.9 billion in 2032, which is almost 1.5 times the demand in 2025.
• During 2025-2032, the recycled plastics industry is expected to generate a cumulative sales opportunity of USD 863.1 billion, which is almost 2.5 times the opportunities during 2019-2024.

High-Growth Market Segments: 

• Asia-Pacific generated the highest demand with the largest market share of XX% in 2024, with China & India as the key growth drivers in the region.
• By process type, Chemical Processing segment is expected to be the fastest-growing segment of the recycled plastics market during the forecast period.
• By type, Post-Consumer segment is expected to account for the largest share of this market during the forecast period.
• By source type, Plastic Bottles segment is expected to be the fastest-growing segment by source type of the recycled plastics market during the forecast period.
• By plastic type, Polyethylene Terephthalate (PET) segment dominated the recycled plastics market with the largest share.
• By end-use industry type, Packaging segment is expected to be the fastest-growing segment of the recycled plastics market during the forecast period.

Market Statistics 

Have a look at the sales opportunities presented by the recycled plastics market in terms of growth and market forecast.

Market Dynamics

Introduction:

What are recycled plastics?

Recycled plastics are made from plastic waste that has been converted from post-consumer or post-industrial waste into raw materials that can be used to make new products. This process involves collecting, sorting, cleaning, and re-melting plastics to reduce environmental impact. Recycled plastics lessen reliance on the manufacturing of virgin plastic, conserve resources, reduce landfill usage, and promote the circular economy.

Market Drivers: 

Increasing Use of Recycled Plastic in Various End-Use Application

• The increasing utilization of recycled plastics in automotive, packaging, and electronics sectors is a significant growth driver for the recycled plastics market. In the automotive industry, recycled plastics are employed in components like dashboards and bumpers to reduce vehicle weight and enhance fuel efficiency, aligning with sustainability goals.
• The packaging sector benefits from recycled plastics by offering eco-friendly alternatives that meet consumer demand for sustainable products.
• In electronics, recycled plastics are used in casings and components, supporting circular economy initiatives and reducing electronic waste. These applications collectively contribute to the expansion of the recycled plastics market.

Market Challenges: 

Negative Impact of Downcycling

• Negative impact of downcycling presents a significant challenge for the recycled plastics market as it leads to reduced material quality and limits reuse in high-performance applications.
• This degradation affects the economic value and desirability of recycled plastics, discouraging adoption across industries such as automotive and electronics, where durability and performance standards are critical. Consequently, it hinders market expansion and investment in recycling infrastructure.

Market Opportunities:

Development of New Recycling Technologies

• The development of advanced recycling technologies presents a significant growth opportunity for the recycled plastics market by enabling the processing of a broader range of plastic waste into high-quality materials.
• Technologies such as pyrolysis, gasification, and depolymerization break down plastics into their molecular components, allowing for the production of virgin-equivalent plastics and other valuable products. These innovations not only enhance recycling efficiency but also support the circular economy by reducing reliance on virgin materials.

Segments' Analysis

By Source Type

“Plastic Bottles segment is expected to be the fastest-growing segment by source type of the recycled plastics market during the forecast period.”

• The recycled plastics market is segmented by source type into bottles, films, fibers, and foams.
• Plastic Bottles segment is expected to be the fastest-growing segment of the recycled plastics market during the forecast period as they are used in various applications across various industries in the packaging of water, oils, pharmaceuticals, and carbonated drinks. Their high consumption rates result in a substantial volume of post-consumer waste, making them readily available for recycling.
• Additionally, the recyclability of PET and HDPE bottles is well-established, supported by robust collection and sorting infrastructures, such as bottle deposit schemes and curbside recycling programs.

By End-Use Industry Type

“Packaging segment is expected to be the fastest-growing segment of the recycled plastics market during the forecast period.”

• The small-scale LNG market is segmented by end-use industry into packaging, textile, automotive, and electronics & electricals.
• Packaging segment is expected to be the fastest-growing segment of the recycled plastics market during the forecast period, due to increasing demand for sustainable packaging solutions driven by environmental concerns, consumer preferences, and government regulations.  
• The surge in e-commerce and retail sectors has also amplified the need for cost-effective and eco-friendly packaging materials.
• Additionally, advancements in recycling technologies have enhanced the quality of recycled plastics, making them more viable for use in diverse packaging applications.

Regional Analysis

“Asia-Pacific is expected to be the dominant and the fastest-growing region over the forecasted period.”

• In terms of region, the recycled plastics market is segmented into the North American region, the European region, the Asia-Pacific region, and the rest of the world.
• Asia-Pacific is expected to be the dominant and the fastest-growing region over the forecasted period, driven by rapid urbanization, industrialization, and population growth in the emerging economies such as India, China, and Japan. As a result, this has led to increased plastic consumption and waste generation, necessitating robust recycling initiatives.
• Government policies promoting sustainability, coupled with rising environmental awareness among consumers, have further propelled the demand for recycled plastics.

Competitive Landscape

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the recycled plastics market -  

• REMONDIS SE & Co. KG
• Biffa
• Stericycle
• Republic Services, Inc.
• WM Intellectual Property Holdings, L.L.C.
• Veolia
• Shell International B.V.
• Waste Connections
• CLEAN HARBORS, INC.
• Covestro AG

Note: The above list does not necessarily include all the top players in the market.

Are you a leading player in this market? We would love to include your name. Please write to us at [email protected]

Recent Developments/Mergers & Acquisitions: 

• In January 2024, Republic Services, Inc. inaugurated a 51,000-square-foot recycling facility in the Salt River Pima-Maricopa Indian Community. Designed to serve approximately 1.4 million residents and over 2,000 businesses, the center features advanced technology and increased capacity, capable of processing up to 40 tons of recyclables per hour. It handles materials such as cardboard, paper, plastics, metals, and glass, supporting improved recycling efficiency in the Valley. 

• In February 2023, Loop Industries, SUEZ, and SK geo centric officially selected the Grand Est region of France as the location for a new manufacturing facility dedicated to producing PET plastic of virgin quality using 100% recycled content. Construction is scheduled to begin in early 2025, with the plant expected to become operational by 2027, marking a significant step toward sustainable plastic production.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation 

This report studies the market, covering a period of 15 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The recycled plastics market is segmented into the following categories. 

Recycled Plastics Market, by Process Type

• Mechanical Recycling
• Chemical Recycling

Recycled Plastics Market, by Type

• Post-Consumer Recyclates
• Industrial Recyclates

Recycled Plastics Market, by Source Type

• Bottles
• Films
• Fibers
• Foams

Recycled Plastics Market, by Plastic Type

• Polyethylene Terephthalate (PET)
• Polyethylene (PE)
• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Polystyrene (PS)

Recycled Plastics Market, by End-Use Industry Type

• Packaging
• Textile
• Automotive
• Electronics & Electricals

Recycled Plastics Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Italy, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s recycled plastics market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across industries. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]