Recycled Plastics Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Recycled Plastics Market: By Material Type (Polyethylene, Terephthalate (PET), High-Density Polyethylene (HDPE), Low-Density, Polyethylene (LDPE), Polyvinyl Chloride (PVC), Polypropylene (PP)), By Source (Plastic Bottles, Rigid Plastics & Foam, Plastic Films, Synthetic Fibers, Others), By Application (Packaging, Building & Construction, Textiles, Automotive, Electrical & Electronics, Others) and Geography

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Report

Description

Recycled Plastics Market is estimated to be valued at USD 34,853.1 million in 2021 and is poised to grow at a significant CAGR of 6.3% over 2022-2028. 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.

Recent Market Developments:

In November 2021, Honeywell announced the commercialization of its plastics recycling process known as “UpCycle Process Technology.” The company calls this a “revolutionary process” as it uses recycled plastic to produce feedstock to make recycled plastics with a smaller carbon footprint.

Recycled Plastics Market

MARKET SUMMARY
-
6.3% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 6.3%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Recycled Plastics Market

  • The recycled plastics market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The recycled plastics market is segmented based on material type, by source, by application, and geography.
Key Players
  • Biffa
  • Stericycle
  • Republic Services, Inc.
  • Republic Services, Inc.
  • Shell International B.V.
Recycled Plastics Market

Dynamics

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 Got Significant Share

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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The Recycled Plastics market report provides granular level information about the market size, regional market share, historic market (2016-2021) and forecast (2022-2028)
  • The Recycled Plastics market report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The Recycled Plastics market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The Recycled Plastics market report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The Recycled Plastics market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Recycled Plastics Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

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.


Report

Company Profile

  • 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

Description

Recycled Plastics Market is estimated to be valued at USD 34,853.1 million in 2021 and is poised to grow at a significant CAGR of 6.3% over 2022-2028. 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.

Recent Market Developments:

In November 2021, Honeywell announced the commercialization of its plastics recycling process known as “UpCycle Process Technology.” The company calls this a “revolutionary process” as it uses recycled plastic to produce feedstock to make recycled plastics with a smaller carbon footprint.

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