Recycled Plastics Market: By Material Type, High-Density Polyethylene, Low-Density, Polyethylene, Polyvinyl Chloride, Polypropylene ), By Source, By Application and Geography
Recycled Plastics Market size was valued at US$ 34,853.1 million in 2022 and is poised to grow at a significant CAGR of 6.3% from 2023-2029. The process of transforming scrap or waste plastic into useful items is known as plastic recycling. Recycling is an important aspect of worldwide efforts to prevent plastic pollution because most plastic is non-biodegradable. Based on materials, the global plastic recycling market is segmented into Polyethylene, Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density, and Polyethylene (LDPE), Polyvinyl Chloride (PVC), Polypropylene (PP) and others. Due to the enormous number of plastic bottles used worldwide, the PET segment dominated the market in 2020 and retained the highest share. PET is the major material used in creating plastic water bottles, according to the United Nations Environment Program (UNEP). PET's high recycling rate is another reason for the segment's dominance in the market. Players are focusing on acquisition to maintain the growth in the market. For instance. in January 2020, Nestlé announced that it will invest up to CHF 2 billion to lead the shift from virgin plastics to food-grade recycled plastics and to accelerate the development of innovative sustainable packaging solutions. Increasing awareness of energy savings and environmental pollution, low cost of used plastic, and increase in demand from various industries including building & construction, packaging, automotive, electrical & electronics, and others are expected to propel the market growth over the forecast period.
Study Period
2024-2030Base Year
2023CAGR
6.3%Largest Market
North AmericaFastest Growing Market
Asia-Pacific
Incising in demand for recycled plastics from end user industries is one of the key factor burgeon the growth of market. The increased use of consumer electronics has boosted demand for recycled plastics in electrical and electronic applications, which is projected to drive market expansion. The growing use of plastics in the construction, automotive, medical device, and electrical and electronics sectors is expected to boost the global recycled plastics market.
North America held the largest share in the global recycled plastics market and the market is expected to burgeon at a prominent growth rate over the forecast years owing to rising in various industries such as food & beverage, automotive, construction, and consumer goods for packaging applications. With increasing concerns about food safety in the wake of COVID-19, the demand for food-safe packaging has expanded significantly in the Americas. The Asia Pacific has held the largest growth rate in the global recycled plastics market due to an increase in non-residential building projects, such as hospitals, schools, and universities, which will increase demand for roofing tiles, insulation, fences, and floor tiles, and carpets, supporting recycled plastics market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 34,853.1 million |
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Market CAGR |
6.3% |
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By Material Type |
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By Source |
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By Application |
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The recycled plastics market is projected to expand at a CAGR of 6.3% during the forecast period.
Asia Pacific is the fastest-growing region for recycled plastics market
Biffa, Stericycle, Republic Services Inc., Republic Services Inc., Shell International B.V.
| 1.Executive Summary |
| 2.Global Recycled Plastics Market Introduction |
| 2.1.Global Recycled Plastics Market - Taxonomy |
| 2.2.Global Recycled Plastics Market - Definitions |
| 2.2.1.Material Type |
| 2.2.2.Source |
| 2.2.3.Application |
| 2.2.4.Region |
| 3.Global Recycled Plastics 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 Recycled Plastics Market Analysis, 2018-2022 and Forecast 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Recycled Plastics Market By Material Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 5.1. Polyethylene, Terephthalate (PET) |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. High-Density Polyethylene (HDPE) |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Low-Density, Polyethylene (LDPE) |
| 5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Polyvinyl Chloride (PVC) |
| 5.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Polypropylene (PP) |
| 5.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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 Recycled Plastics Market By Source, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 6.1. Plastic Bottles |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Rigid Plastics & Foam |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Plastic Films |
| 6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Synthetic Fibers |
| 6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Others |
| 6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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 |
| 7.Global Recycled Plastics Market By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 7.1. Packaging, Building & Construction, Textiles |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Automotive |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Electrical & Electronics |
| 7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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, 2018-2022 and Forecast, 2023-2029, (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 Recycled Plastics Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Europe |
| 8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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. Latin America |
| 8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (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 |
| 9.North America Recycled Plastics Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 9.1. Material Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Polyethylene, Terephthalate (PET) |
| 9.1.2.High-Density Polyethylene (HDPE) |
| 9.1.3.Low-Density, Polyethylene (LDPE) |
| 9.1.4.Polyvinyl Chloride (PVC) |
| 9.1.5.Polypropylene (PP) |
| 9.2. Source Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Plastic Bottles |
| 9.2.2.Rigid Plastics & Foam |
| 9.2.3.Plastic Films |
| 9.2.4.Synthetic Fibers |
| 9.2.5.Others |
| 9.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Packaging, Building & Construction, Textiles |
| 9.3.2.Automotive |
| 9.3.3.Electrical & Electronics |
| 9.3.4.Others |
| 9.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Recycled Plastics Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 10.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Polyethylene, Terephthalate (PET) |
| 10.1.2.High-Density Polyethylene (HDPE) |
| 10.1.3.Low-Density, Polyethylene (LDPE) |
| 10.1.4.Polyvinyl Chloride (PVC) |
| 10.1.5.Polypropylene (PP) |
| 10.2. Source Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Plastic Bottles |
| 10.2.2.Rigid Plastics & Foam |
| 10.2.3.Plastic Films |
| 10.2.4.Synthetic Fibers |
| 10.2.5.Others |
| 10.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Packaging, Building & Construction, Textiles |
| 10.3.2.Automotive |
| 10.3.3.Electrical & Electronics |
| 10.3.4.Others |
| 10.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11.Asia Pacific (APAC) Recycled Plastics Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 11.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Polyethylene, Terephthalate (PET) |
| 11.1.2.High-Density Polyethylene (HDPE) |
| 11.1.3.Low-Density, Polyethylene (LDPE) |
| 11.1.4.Polyvinyl Chloride (PVC) |
| 11.1.5.Polypropylene (PP) |
| 11.2. Source Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Plastic Bottles |
| 11.2.2.Rigid Plastics & Foam |
| 11.2.3.Plastic Films |
| 11.2.4.Synthetic Fibers |
| 11.2.5.Others |
| 11.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Packaging, Building & Construction, Textiles |
| 11.3.2.Automotive |
| 11.3.3.Electrical & Electronics |
| 11.3.4.Others |
| 11.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Recycled Plastics Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 12.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Polyethylene, Terephthalate (PET) |
| 12.1.2.High-Density Polyethylene (HDPE) |
| 12.1.3.Low-Density, Polyethylene (LDPE) |
| 12.1.4.Polyvinyl Chloride (PVC) |
| 12.1.5.Polypropylene (PP) |
| 12.2. Source Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Plastic Bottles |
| 12.2.2.Rigid Plastics & Foam |
| 12.2.3.Plastic Films |
| 12.2.4.Synthetic Fibers |
| 12.2.5.Others |
| 12.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Packaging, Building & Construction, Textiles |
| 12.3.2.Automotive |
| 12.3.3.Electrical & Electronics |
| 12.3.4.Others |
| 12.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Recycled Plastics Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 13.1. Material Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Polyethylene, Terephthalate (PET) |
| 13.1.2.High-Density Polyethylene (HDPE) |
| 13.1.3.Low-Density, Polyethylene (LDPE) |
| 13.1.4.Polyvinyl Chloride (PVC) |
| 13.1.5.Polypropylene (PP) |
| 13.2. Source Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Plastic Bottles |
| 13.2.2.Rigid Plastics & Foam |
| 13.2.3.Plastic Films |
| 13.2.4.Synthetic Fibers |
| 13.2.5.Others |
| 13.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Packaging, Building & Construction, Textiles |
| 13.3.2.Automotive |
| 13.3.3.Electrical & Electronics |
| 13.3.4.Others |
| 13.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.REMONDIS SE & Co. KG |
| 14.2.2.Biffa |
| 14.2.3.Stericycle |
| 14.2.4.Republic Services, Inc. |
| 14.2.5.WM Intellectual Property Holdings, L.L.C. |
| 14.2.6.Veolia |
| 14.2.7.Shell International B.V. |
| 14.2.8.Waste Connections |
| 14.2.9.CLEAN HARBORS, INC. |
| 14.2.10.Covestro AG |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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