Recycled Plastics Market by Product (Polyethylene, Polyethylene Terephthalate, Polypropylene), Method (Distributed Recycling, Heat Compression, Pyrolysis), Source, Application - Global Forecast 2024-2030

Recycled Plastics Market by Product (Polyethylene, Polyethylene Terephthalate, Polypropylene), Method (Distributed Recycling, Heat Compression, Pyrolysis), Source, Application - Global Forecast 2024-2030

The Recycled Plastics Market size was estimated at USD 47.07 billion in 2023 and expected to reach USD 49.00 billion in 2024, at a CAGR 4.41% to reach USD 63.69 billion by 2030.

Recycled plastics are materials reprocessed from plastic waste, transforming them into usable plastic products or materials. The recycled plastics process involves collecting plastic waste, cleaning and sorting it, breaking it down into plastic flakes or pellets, and then remolding it into new products. The necessity for recycled plastics stems from the urgency to address the environmental issues caused by the overproduction and disposal of virgin plastics. Increasing public consciousness regarding environmental sustainability and reducing plastic pollution drives the recycled plastics market. In addition, initiatives and stringent regulations by governments worldwide mandating the use of recycled materials propel the adoption of recycled plastics. However, contamination levels in plastics and variability in the quantity and quality of recyclable plastic waste present a challenge for the stable production of recycled plastics. Nevertheless, developing sorting techniques that can efficiently differentiate and process various plastics and ongoing investments in new recycled plastic facilities are expected to drive the recycled plastics market in the coming years.

Regional Insights

A growing consumer awareness of the environmental impact of plastic waste characterizes the recycled plastics market in the Americas. The countries in the Americas show commitment to reducing plastic waste through government initiatives and private investments in recycling infrastructure. The European Union (EU) countries promote using recycled plastics due to stringent regulations and policies, such as the EU Plastics Strategy and the Circular Economy Action Plan. These policies have encouraged investments in advanced recycling technologies and created a robust market for recycled plastics. Consumer purchasing behavior in the EU is greatly influenced by sustainability credentials, driving companies to incorporate recycled content into their products. While the Middle East is witnessing increased investments to develop recycling facilities, Africa’s market is still emerging with substantial opportunities, including efforts to formalize waste collection and recycling sectors. The recycled plastics in the Asia-Pacific is growing, with a focus on improving the quality and capacity of domestic recycling facilities. The government push for increased recycling rates and support for the informal recycling sector in emerging economies has promoted the demand for recycled plastic in the Asia-Pacific.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Recycled Plastics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Surging Need to Manage Plastic Pollution Globally
    • Significant Demand for Recycled Plastic Products From End-User Industries
    • Increasing Government Focus Toward Recycled Plastics
    • Market Restraints
      • Issues Concerning Plastic Recycling and Regulations for Plastic Recyclables Trade
      • Market Opportunities
        • Introduction of New Methods and Technology for Recycling Plastic
        • Emerging New Products from Recycled Plastics
        • Market Challenges
          • Environmental and Health Impacts of Recycling Process and Availability of Eco-Friendly Alternatives
          • Market Segmentation Analysis
            • Product: Growing demand for recycled polyethylene due to widespread use and well-established recycling programs
            • Application: Wide applications of recycled plastics in automotive industry
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Recycled Plastics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Recycled Plastics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Samyang Corporation Acquires Global Eco-Friendly Certification for Recycled Plastic Fishing Net Materials
              
              Samyang Corporation made a significant leap in sustainability by securing the prestigious ECV Ocean Plastic (2809-3) certification from UL Solutions for their innovative TRIECO 4D range. This certification applauds Samyang's commitment to environmental stewardship by rigorously validating the attributes of their ocean-recycled plastics, ensuring they are sourced and processed without greenwashing.
              
              DeepTech Recycling Secures Investment for Plastic Recycling Technology
              
              DeepTech Recycling, based in the UK, recently secured a GBR 1 million investment to enhance strategies for more sustainable plastic waste management. Leveraging patented technology, DeepTech transforms difficult-to-recycle plastics, that would otherwise end up in landfills or incinerators, into oil usable by the petrochemical industry to create virgin-quality plastics. This initiative supports the transition towards a circular economy by enabling the production of new plastics from recycled materials.
              
              SI Group Launches New Brand for Plastics Recycling
              
              SI Group, an innovator in performance additives and chemical solutions, announced the launch of its EVERCYCLE additives platform at the K 2022 trade fair in Düsseldorf, aligning with the company's commitment to sustainability and circular economy principles. This platform introduces a suite of products designed to enhance plastics recycling processes and final recycled product quality.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Recycled Plastics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Recycled Plastics Market, highlighting leading vendors and their innovative profiles. These include Ace Plastics Recycling, Advanced Drainage Systems, Inc., Alpek S.A.B. de C.V., Altium Packaging LP, B & B Plastics Recycling, Inc., B. Schoenberg & Co., Inc., BASF SE, Berry Global Group, Inc., Biffa PLC, Cabka Group GmbH, Covestro AG, Custom Polymers, Inc., Fresh Pak Corporation, Imerys S.A., Indorama Ventures Public Company Limited, Jayplas, K K Asia (HK) Ltd., KW Plastics, Let's Recycle It Ltd, MBA Polymers Inc., Phoenix Technologies International, LLC, Plastic Recycling, Inc., RDB Plastics GmbH, Revolution Company, Shakti Plastic Industries, Stericycle Inc., The Dow Chemical Company, Ultra-Poly Corporation, UltrePET, LLC, Veolia Environnement S.A., and Waste Management, Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Recycled Plastics Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Polyethylene
              • Polyethylene Terephthalate
              • Polypropylene
              • Polystyrene
              • Polyvinyl Chloride
              • Method
                • Distributed Recycling
                • Heat Compression
                • Pyrolysis
                • Thermal Decomposition
                • Source
                  • Fibers
                  • Plastic Bottles
                  • Plastic Films
                  • Polymer Foam
                  • Rigid Plastic and Foam
                  • Application
                    • Automotive
                    • Building & Construction
                    • Electrical & Electronics
                    • Packaging
                    • Textiles
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • New York
                          • Ohio
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year