Global Plastic Recycling Services Market Size Study, by Process (Mechanical Recycling, Chemical Recycling), Type (Plastic Bottles, Plastic Films, Polymer Foam), and Regional Forecasts 2022-2032

Global Plastic Recycling Services Market Size Study, by Process (Mechanical Recycling, Chemical Recycling), Type (Plastic Bottles, Plastic Films, Polymer Foam), and Regional Forecasts 2022-2032

The Global Plastic Recycling Services Market, valued at approximately USD 26.55 billion in 2023, is poised to expand at a robust CAGR of 8.11% during the forecast period 2024-2032, reaching an estimated USD 53.56 billion by 2032. Plastic recycling services play a pivotal role in addressing global environmental concerns, offering solutions to manage plastic waste while fostering sustainable practices across industries. The market is underpinned by innovations in recycling technologies, such as chemical and mechanical recycling, that improve efficiency, reduce carbon footprints, and promote the circular economy.

Increasing awareness about environmental sustainability, coupled with stringent government regulations targeting single-use plastics, has catalyzed the demand for recycling services. The adoption of mechanical recycling processes dominates the industry, driven by its cost-effectiveness and widespread application in converting post-consumer plastic waste into reusable materials. Simultaneously, advancements in chemical recycling methods are unlocking new opportunities for recycling complex plastic materials, such as multi-layered packaging and polymer foam, broadening the scope of applications.

However, challenges such as the high costs of recycling technologies and inadequate recycling infrastructure in developing economies remain significant hurdles. Nonetheless, industry players are proactively investing in cutting-edge innovations and expanding their operational footprints to overcome these obstacles. The emergence of public-private partnerships and global initiatives aimed at improving waste collection and recycling rates further strengthens the market outlook. Moreover, the integration of AI-driven sorting systems and sustainable supply chain management underscores the growing sophistication of plastic recycling services.

Regionally, the Asia Pacific market dominates, with countries like China, India, and Japan exhibiting robust growth due to extensive industrialization, proactive government policies, and rising public awareness of plastic waste management. Europe and North America are significant contributors as well, driven by stringent environmental regulations and the presence of leading recycling technology providers. Meanwhile, Latin America and the Middle East & Africa are expected to witness accelerated growth, supported by burgeoning investments in recycling infrastructure and awareness campaigns.

Major market players included in this report are:
• Veolia Environnement S.A.
• SUEZ Recycling and Recovery Holdings
• Waste Management, Inc.
• Clean Harbors, Inc.
• Advanced Environmental Recycling Technologies, Inc.
• Covanta Holding Corporation
• Republic Services, Inc.
• Remondis SE & Co. KG
• Biffa plc
• Stericycle, Inc.
• TOMRA Sorting Solutions
• Kuusakoski Group Oy
• Placon Corporation
• CarbonLite Industries LLC
• Loop Industries, Inc.

The detailed segments and sub-segment of the market are explained below:

By Process:
• Mechanical Recycling
• Chemical Recycling

By Type:
• Plastic Bottles
• Plastic Films
• Polymer Foam

By Region:

North America:
• U.S.
• Canada

Europe:
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific:
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America:
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa:
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approaches.
• Analysis of competitive structure of the market.
• Demand-side and supply-side analysis of the market.

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