Plastic Recycling Market: By Sources (Plastic Bottles, Fibers, Films, Foams, and Others), By Plastic Type (PET, HDPE, PVC, LDPE, PP, PS, and Others), By Method (Mechanical Recycling, Chemical Recycling, Energy Recycling), By Application (Packaging, Textile, Electrical and Electronics, Building and Construction, Automotive and Others), and Geography

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Plastic Recycling Market size was valued at USD 53,892.6 Million in 2023 and is poised to grow at a CAGR of 8.6% from 2024-2030. The plastic recycling market is a sector of the recycling industry that focuses on the collection, processing, and reuse of plastic waste materials. It involves converting used or discarded plastic products into new materials that can be used for various applications. The plastic recycling market is primarily driven by growing global awareness of plastic waste’s effects on the environment, including its impact on pollution, landfill space, and resource depletion. Moreover, the increasing demand for recycled plastics in various industries such as packaging, textiles, automotive, and so on contributes to the growth of the plastic recycling market.

However, the high cost of production of recycled plastics stands as a barrier to the growth of the plastic recycling market. Furthermore, advancements in innovative recycling technologies and processes present opportunities to improve the efficiency of plastic recycle. Key market players are continuously involved in developing plastic recycling solutions and establishing partnerships to further contribute to the expansion of the plastic recycling market. For instance, in March 2022, Faurecia, company of the Group FORVIA, and Veolia have signed a Research Agreement to jointly develop inventive recycled plastics for automotive interior modules, aiming to achieve an average of 30% of recycled content by 2025.

Plastic Recycling Market Key Developments:
  • In October 2022, Veolia has launched a new brand of recycled plastics and services under the name PlastiLoop which is designed to cater to varying sectors globally and brings together a large pool of industry professionals and recycling services.
  • In April2023, LyondellBasell and Veolia Belgium have signed an agreement to reorganize the ownership of Quality Circular Polymers (QCP) BV recycling facilities.
  • In February 2021, Verra launched new plastic standard to impel investment in plastic waste collection and recycling projects

Plastic Recycling Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.6%

Largest Market

Asia Pacific

Fastest Growing Market

North America

Plastic Recycling Market Dynamics

The global plastic recycling market has witnessed massive growth, driven by the government restrictions and policies. In order to encourage plastic recycling and lessen plastic waste, several governments worldwide have implemented regulations and policies into place including, waste management objectives, landfill restrictions, extended producer responsibility (EPR) schemes, and financial incentives for recycling programs. Moreover, technological advancements in recycling technologies and methods have enhanced the quality efficiency, and cost effectiveness. Innovations in sorting, cleaning, and processing technologies have made it easier to recycle a large variety of plastics and achieve greater recycling rates. These advancements attract investments and stimulate the plastic recycling market growth.

Plastic Recycling Market Segmentation

By Source Type

  • Plastic Bottles
  • Fibers
  • Films
  • Foams
  • Others

By Plastic Type

  • PET
  • HDPE
  • PVC
  • LDPE
  • PP
  • PS
  • Others

By Method Type

  • Mechanical Recycling
  • Chemical Recycling
  • Energy Recycling
  • Others

By Application

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

Geography

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

Plastic recycling market was valued at USD 53,892.6 Million in 2023 and is anticipated to grow at a CAGR of 8.6% over 2024-2030.

Increasing demand for recycled plastics, advancements in recycling technologies are some of the key opportunities for the companies to enhance their revenue over the forecast years.

Emphasis on Circular Economy and Brand Commitments to Sustainability are some of the major trends in the plastic recycling market.

Republic Services, Inc., MBA Polymers, Stericycle, REMONDIS SE & Co. KG, Shell international B.V., Republic Services, Alpek, Verra, Covetsro AG, Berry Global Group, Inc., Plastipak Holdings, Inc., Far Eastern New Century, Loop industries, inc., Veolia, LyondellBasell, Clean Harbors, Inc., Carbios, Biffa, Waste Connections, Inc. are some of the key market players.

Key Features of the Report

  • The plastic recycling market report provides granular level information about the market size, regional market share, historic market (2019-2023)and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
1.Executive Summary
2.Global Plastic Recycling Market Introduction 
2.1.Global Plastic Recycling Market  - Taxonomy
2.2.Global Plastic Recycling Market  - Definitions
2.2.1.Source Type
2.2.2.Plastic Type
2.2.3.Method Type
2.2.4.Application
2.2.5.Region
3.Global Plastic Recycling Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Plastic Recycling Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Plastic Recycling Market  By Source Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Plastic Bottles
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Fibers
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Films
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Foams
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Others
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
6.Global Plastic Recycling Market  By Plastic Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. PET
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. HDPE
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. PVC
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. LDPE
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. PP
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. PS
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
6.7. Others
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.7.3. Market Opportunity Analysis 
7.Global Plastic Recycling Market  By Method Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Mechanical Recycling
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Chemical Recycling
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Energy Recycling
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Others
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
8.Global Plastic Recycling Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Packaging
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Textile
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Electrical and Electronics
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Building and Construction
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Automotive
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
8.6. Others
8.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.6.3. Market Opportunity Analysis 
9.Global Plastic Recycling Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Plastic Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Source Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Plastic Bottles
10.1.2.Fibers
10.1.3.Films
10.1.4.Foams
10.1.5.Others
10.2.  Plastic Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.PET
10.2.2.HDPE
10.2.3.PVC
10.2.4.LDPE
10.2.5.PP
10.2.6.PS
10.2.7.Others
10.3.  Method Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Mechanical Recycling
10.3.2.Chemical Recycling
10.3.3.Energy Recycling
10.3.4.Others
10.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Packaging
10.4.2.Textile
10.4.3.Electrical and Electronics
10.4.4.Building and Construction
10.4.5.Automotive
10.4.6.Others
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Plastic Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Source Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Plastic Bottles
11.1.2.Fibers
11.1.3.Films
11.1.4.Foams
11.1.5.Others
11.2.  Plastic Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.PET
11.2.2.HDPE
11.2.3.PVC
11.2.4.LDPE
11.2.5.PP
11.2.6.PS
11.2.7.Others
11.3.  Method Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Mechanical Recycling
11.3.2.Chemical Recycling
11.3.3.Energy Recycling
11.3.4.Others
11.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Packaging
11.4.2.Textile
11.4.3.Electrical and Electronics
11.4.4.Building and Construction
11.4.5.Automotive
11.4.6.Others
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Plastic Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Source Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Plastic Bottles
12.1.2.Fibers
12.1.3.Films
12.1.4.Foams
12.1.5.Others
12.2.  Plastic Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.PET
12.2.2.HDPE
12.2.3.PVC
12.2.4.LDPE
12.2.5.PP
12.2.6.PS
12.2.7.Others
12.3.  Method Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Mechanical Recycling
12.3.2.Chemical Recycling
12.3.3.Energy Recycling
12.3.4.Others
12.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Packaging
12.4.2.Textile
12.4.3.Electrical and Electronics
12.4.4.Building and Construction
12.4.5.Automotive
12.4.6.Others
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Plastic Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Source Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Plastic Bottles
13.1.2.Fibers
13.1.3.Films
13.1.4.Foams
13.1.5.Others
13.2.  Plastic Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.PET
13.2.2.HDPE
13.2.3.PVC
13.2.4.LDPE
13.2.5.PP
13.2.6.PS
13.2.7.Others
13.3.  Method Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Mechanical Recycling
13.3.2.Chemical Recycling
13.3.3.Energy Recycling
13.3.4.Others
13.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Packaging
13.4.2.Textile
13.4.3.Electrical and Electronics
13.4.4.Building and Construction
13.4.5.Automotive
13.4.6.Others
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Plastic Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1. Source Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Plastic Bottles
14.1.2.Fibers
14.1.3.Films
14.1.4.Foams
14.1.5.Others
14.2.  Plastic Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.PET
14.2.2.HDPE
14.2.3.PVC
14.2.4.LDPE
14.2.5.PP
14.2.6.PS
14.2.7.Others
14.3.  Method Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Mechanical Recycling
14.3.2.Chemical Recycling
14.3.3.Energy Recycling
14.3.4.Others
14.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Packaging
14.4.2.Textile
14.4.3.Electrical and Electronics
14.4.4.Building and Construction
14.4.5.Automotive
14.4.6.Others
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Republic Services, Inc.
15.2.2.MBA Polymers
15.2.3.Stericycle
15.2.4.REMONDIS SE & Co. KG
15.2.5.shell international B.V.
15.2.6.Republic Services
15.2.7.Alpek
15.2.8.Verra
15.2.9.Covetsro AG
15.2.10.Berry Global Group, Inc.
15.2.11.Plastipak Holdings, Inc.Far Eastern New Century
15.2.12.Loop industries, inc
15.2.13.Veolia
15.2.14.LyondellBasell
15.2.15.Clean Harbors, Inc.
15.2.16.Carbios
15.2.17.Biffa
15.2.18.Waste Connections, Inc.
16. Research Methodology 
17. Appendix and Abbreviations 
  • Republic Services, Inc.
  • MBA Polymers
  • Stericycle
  • REMONDIS SE & Co. KG
  • shell international B.V.
  • Republic Services
  • Alpek
  • Verra
  • Covetsro AG
  • Berry Global Group, Inc.
  • Plastipak Holdings, Inc.Far Eastern New Century
  • Loop industries, inc
  • Veolia
  • LyondellBasell
  • Clean Harbors, Inc.
  • Carbios
  • Biffa
  • Waste Connections, Inc.

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