Plastic Recycling Market Size, Share, Trends, Growth Outlook

The Global Plastic Recycling Market Size is estimated to register 8.8% growth over the forecast period from 2023 to 2030.

 

The Plastic Recycling Market is driven by environmental concerns, regulatory initiatives, the circular economy, consumer demand, cost savings, technological advancements, and corporate sustainability goals. Environmental concerns include ocean pollution and landfill overcrowding, while regulatory initiatives focus on stricter plastic use and disposal. The circular economy encourages the reuse, repair, and recycling of products and materials. Consumer demand for eco-friendly brands drives businesses to use recycled plastics in their products. Technological advancements make recycling more economically viable, and companies set ambitious sustainability targets. Trends include plastic-to-plastic recycling, chemical recycling, biodegradable plastics, digitalization, and traceability. Collaborative initiatives, consumer education, investment in recycling infrastructure, and market demand for recycled content are driving these trends. These factors contribute to the growing demand for sustainable and eco-friendly plastics.

 

 

Rising Environmental Awareness to Combat Ocean Pollution and Landfill Overcrowding is creating a demand in the market.

The growing global concern over environmental issues, particularly ocean pollution and landfill overcrowding, has spurred a significant surge in awareness and action to combat these problems. This increased awareness has given rise to a burgeoning demand in the plastic recycling market. As people become more conscious of the detrimental impact of plastic waste on marine ecosystems and the environment, there is a growing preference for sustainable and eco-friendly practices. This shift in consumer behaviour has led to increased recycling efforts, innovative technologies, and government policies aimed at reducing plastic waste. Consequently, the plastic recycling industry is experiencing substantial growth, with businesses and investors recognizing the potential for both environmental benefits and economic opportunities in recycling plastics.

 

Rising Consumer Demand for Eco-Friendly Products Spurs Businesses to Embrace Recycled Plastics and is boosting the market.

The surge in consumer demand for eco-friendly products has triggered a significant shift in the business landscape, leading companies to increasingly embrace recycled plastics. This growing environmental consciousness among consumers has become a powerful catalyst, propelling the plastic recycling market to new heights. Businesses across various industries are recognizing the importance of sustainability and are actively incorporating recycled plastics into their production processes to meet this demand. This shift not only aligns with corporate social responsibility goals but also helps reduce the environmental footprint associated with plastic production. As a result, the plastic recycling market is experiencing remarkable growth, driven by both consumer preferences and corporate sustainability initiatives.

 

Government and Business Investments in Recycling Infrastructure is increasing the demand.

The Plastic Recycling Market is experiencing a notable surge in demand, primarily driven by increased investments from both government bodies and businesses in recycling infrastructure. This heightened focus on sustainable practices has spurred the development of advanced recycling technologies and the expansion of recycling facilities. Governments worldwide are implementing stringent regulations to curb plastic waste, encouraging businesses to adopt more eco-friendly practices. This, in turn, has created a growing market for recycled plastics, with industries like packaging, automotive, and consumer goods increasingly incorporating recycled materials into their products. As the emphasis on environmental sustainability continues to grow, the Plastic Recycling Market is poised for substantial growth, presenting lucrative opportunities for stakeholders across the supply chain.

 

Market Share Analysis:

PET (polyethylene terephthalate) stands out prominently as the foremost contender within the vast realm of plastic recycling.

Renowned for its versatility and resilience, PET has firmly established itself as the dominant force in the plastic recycling industry. Its widespread usage in various consumer products, including bottles, containers, and textiles, contributes significantly to its prevalence in the market. One of PET's remarkable attributes is its ability to be recycled multiple times without substantial loss in quality or performance, making it an eco-friendly choice. Its molecular structure enables efficient mechanical and chemical recycling processes. As global environmental concerns intensify, PET's prominence continues to grow, driving innovation and sustainable practices in plastic recycling, ultimately promoting a circular economy. This polymer's enduring reign reaffirms the importance of responsible plastic management in our modern world.

 

Plastic bottles are the most dominant source of recycled plastic in the global market.

Plastic bottles play a paramount role in the worldwide recycling landscape, representing the primary source of reclaimed plastic materials. Their ubiquitous presence in our daily lives, from water bottles to beverage containers, ensures a steady supply for recycling initiatives. As environmentally conscious consumers increasingly embrace recycling practices, plastic bottles contribute significantly to reducing plastic waste and conserving resources. Recycling facilities worldwide depend on the influx of discarded plastic bottles to produce a wide array of recycled plastic products, ranging from textiles to packaging materials. This reliance underscores the pivotal role plastic bottles play in the circular economy, promoting sustainability and resource efficiency. Governments and industries alike recognize the importance of fostering plastic bottle recycling programs to combat the growing issue of plastic pollution and minimize the ecological footprint of this versatile material. Ultimately, plastic bottles serve as both a challenge and an opportunity in the quest for a more sustainable and eco-friendly future.

 

Packaging stands at the forefront of the plastic recycling market, occupying a pivotal role in sustainability efforts.

The dominance arises from the sheer volume of plastic waste generated by packaging materials worldwide. As consumers and industries increasingly prioritize eco-conscious practices, recycling plays a crucial part in mitigating environmental harm. This dominance also reflects the versatility of plastic packaging, which ranges from bottles and containers to film and bags. Recycling these materials reduces the demand for virgin plastics, conserving resources and lowering carbon emissions. Moreover, governments and businesses are enacting regulations and initiatives to promote recycling in the packaging sector, further cementing its significance. In a world where environmental concerns are paramount, packaging recycling's prominence continues to grow, driving innovation and fostering a greener future.

 

Plastic Recycling Market Segmentation

Type             

• PE
• PET
• PP
• PVC
• PS
• Others

Source

• Plastic Bottles
• Plastic Films
• Polymer Foam
• Others

Application       

• Building and Construction
• Packaging
• Electrical and Electronics
• Textiles
• Automotive
• Others

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Plastic Recycling Market companies

• Remondis SE & Co Kg
• Biffa
• Stericycle
• Republic Services Inc
• WM Intellectual Property Holdings LLC
• Veolia
• Shell International BV
• Waste Connections
• Clean Harbors Inc
• Covestro AG

 

*List not exhaustive

Plastic Recycling Market Outlook 2023

1 Market Overview

1.1 Introduction to the Plastic Recycling Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Plastic Recycling Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Plastic Recycling Market Companies with Area Served

4.2.2 Products Offerings Global Plastic Recycling Market

 

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 post-COVID-19 Scenario- Low Growth Case

5.1.3 post-COVID-19 Scenario- Reference Growth Case

5.1.4 post-COVID-19 Scenario- Low Growth Case

 

6 Global Plastic Recycling Market Trends

6.1 Global Plastic Recycling Revenue (USD Million) and CAGR (%) by Type (2018-2030)

6.2 Global Plastic Recycling Revenue (USD Million) and CAGR (%) by Applications (2018-2030)

6.3 Global Plastic Recycling Revenue (USD Million) and CAGR (%) by regions (2018-2030)

 

7 Global Plastic Recycling Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Plastic Recycling Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Plastic Recycling Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Plastic Recycling Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Plastic Recycling Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Plastic Recycling Development Regional Status and Outlook

8.1 Global Plastic Recycling Revenue (USD Million) By Regions (2018-2022)

8.2 North America Plastic Recycling Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Plastic Recycling Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Plastic Recycling Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Plastic Recycling Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Plastic Recycling Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Plastic Recycling Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Plastic Recycling Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Plastic Recycling Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Plastic Recycling Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Plastic Recycling Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Plastic Recycling Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Plastic Recycling Revenue (USD Million) by Applications (2018-2022)

8.5 South America Plastic Recycling Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Plastic Recycling Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Plastic Recycling Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Plastic Recycling Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Plastic Recycling Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Plastic Recycling Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Plastic Recycling Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Plastic Recycling Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Plastic Recycling Market Revenue (USD Million), by Type, and Applications (2023-2030)

10.1 Global Plastic Recycling Revenue (USD Million) and Market Share (%) by Type (2023-2030)

10.1.1 Global Plastic Recycling Revenue (USD Million), and Market Share (%) by Type (2023-2030)

10.2 Global Plastic Recycling Revenue (USD Million) and Market Share (%) by Applications (2023-2030)

10.2.1 Global Plastic Recycling Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

 

11 Global Plastic Recycling Development Regional Status and Outlook Forecast

11.1 Global Plastic Recycling Revenue (USD Million) By Regions (2023-2030)

11.2 North America Plastic Recycling Revenue (USD Million) by Type, and Applications (2023-2030)

11.2.1 North America Plastic Recycling Revenue (USD) Million by Country (2023-2030)

11.2.2 North America Plastic Recycling Revenue (USD Million), by Type (2023-2030)

11.2.3 North America Plastic Recycling Revenue (USD Million), Market Share (%) by Applications (2023-2030)

11.3 Europe Plastic Recycling Revenue (USD Million), by Type, and Applications (2023-2030)

11.3.1 Europe Plastic Recycling Revenue (USD Million), by Country (2023-2030)

11.3.2 Europe Plastic Recycling Revenue (USD Million), by Type (2023-2030)

11.3.3 Europe Plastic Recycling Revenue (USD Million), by Applications (2023-2030)

11.4 Asia Pacific Plastic Recycling Revenue (USD Million) by Type, and Applications (2023-2030)

11.4.1 Asia Pacific Plastic Recycling Revenue (USD Million), by Country (2023-2030)

11.4.2 Asia Pacific Plastic Recycling Revenue (USD Million), by Type (2023-2030)

11.4.3 Asia Pacific Plastic Recycling Revenue (USD Million), by Applications (2023-2030)

11.5 South America Plastic Recycling Revenue (USD Million), by Type, and Applications (2023-2030)

11.5.1 South America Plastic Recycling Revenue (USD Million), by Country (2023-2030)

11.5.2 South America Plastic Recycling Revenue (USD Million), by Type (2023-2030)

11.5.3 South America Plastic Recycling Revenue (USD Million), by Applications (2023-2030)

11.6 Middle East and Africa Plastic Recycling Revenue (USD Million), by Type, and Applications (2023-2030)

11.6.1 Middle East and Africa Plastic Recycling Revenue (USD Million), by region (2023-2030)

11.6.2 Middle East and Africa Plastic Recycling Revenue (USD Million), by Type (2023-2030)

11.6.3 Middle East and Africa Plastic Recycling Revenue (USD Million), by Applications (2023-2030)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Plastic Recycling Market Companies with Areas Served

Table 3 Products Offerings Global Plastic Recycling Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Plastic Recycling Revenue (USD Million) And CAGR (%) By Type (2018-2030)

Table 8 Global Plastic Recycling Revenue (USD Million) And CAGR (%) By Applications (2018-2030)

Table 9 Global Plastic Recycling Revenue (USD Million) And CAGR (%) By Regions (2018-2030)

Table 10 Global Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Table 11 Global Plastic Recycling Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Plastic Recycling Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Plastic Recycling Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Plastic Recycling Market Share (%) By Regions (2018-2022)

Table 16 North America Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Table 17 North America Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Table 18 North America Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Table 26 South America Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Table 27 South America Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Plastic Recycling Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis

Table 32 Global Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Table 33 Global Plastic Recycling Revenue Market Share (%) By Type (2023-2030)

Table 34 Global Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Table 35 Global Plastic Recycling Revenue Market Share (%) By Applications (2023-2030)

Table 36 Global Plastic Recycling Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)

Table 37 North America Plastic Recycling Revenue (USD)By Country (2023-2030)

Table 38 North America Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Table 39 North America Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Table 40 Europe Plastic Recycling Revenue (USD Million) By Country (2023-2030)

Table 41 Europe Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Table 42 Europe Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Table 43 Asia Pacific Plastic Recycling Revenue (USD Million) By Country (2023-2030)

Table 44 Asia Pacific Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Table 45 Asia Pacific Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Table 46 South America Plastic Recycling Revenue (USD Million) By Country (2023-2030)

Table 47 South America Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Table 48 South America Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Table 49 Middle East and Africa Plastic Recycling Revenue (USD Million) By Region (2023-2030)

Table 50 Middle East and Africa Plastic Recycling Revenue (USD Million) By Region (2023-2030)

Table 51 Middle East and Africa Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Table 52 Middle East and Africa Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Plastic Recycling Revenue Market Share (%) By Type (2022)

Figure 5 Global Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Plastic Recycling Revenue Market Share (%) By Applications (2022)

Figure 7 Global Plastic Recycling Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Plastic Recycling Market Share (%) By Regions (2022)

Figure 9 North America Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Plastic Recycling Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Plastic Recycling Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Plastic Recycling Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Plastic Recycling Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Figure 25 Global Plastic Recycling Revenue Market Share (%) By Type (2030)

Figure 26 Global Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Figure 27 Global Plastic Recycling Revenue Market Share (%) By Applications (2030)

Figure 28 Global Plastic Recycling Market Revenue (USD Million) By Regions (2023-2030)

Figure 29 North America Plastic Recycling Revenue (USD Million) By Country (2023-2030)

Figure 30 North America Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Figure 31 North America Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Figure 32 Europe Plastic Recycling Revenue (USD Million) By Country (2023-2030)

Figure 33 Europe Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Figure 34 Europe Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Figure 35 Asia Pacific Plastic Recycling Revenue (USD Million) By Country (2023-2030)

Figure 36 Asia Pacific Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Figure 37 Asia Pacific Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Figure 38 South America Plastic Recycling Revenue (USD Million) By Country (2023-2030)

Figure 39 South America Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Figure 40 South America Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Figure 41 Middle East and Africa Plastic Recycling Revenue (USD Million) By Region (2023-2030)

Figure 42 Middle East and Africa Plastic Recycling Revenue (USD Million) By Region (2023-2030)

Figure 43 Middle East and Africa Plastic Recycling Revenue (USD Million) By Type (2023-2030)

Figure 44 Middle East and Africa Plastic Recycling Revenue (USD Million) By Applications (2023-2030)

Figure 45 Bottom-Up and Top-Down Approaches for This Report

Figure 46 Data Triangulation

Plastic Recycling Market Segmentation

Type             

• PE
• PET
• PP
• PVC
• PS
• Others

Source

• Plastic Bottles
• Plastic Films
• Polymer Foam
• Others

Application       

• Building and Construction
• Packaging
• Electrical and Electronics
• Textiles
• Automotive
• Others

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)