Europe Recycled Plastics Market Size, Share & Trends Analysis Report By Source (Bottle, Foams, Films), By Product (Polyethylene, Polypropylene), By End-use (Packaging, Building & Construction), By Country, And Segment Forecasts, 2024 - 2030

Europe Recycled Plastics Market Size, Share & Trends Analysis Report By Source (Bottle, Foams, Films), By Product (Polyethylene, Polypropylene), By End-use (Packaging, Building & Construction), By Country, And Segment Forecasts, 2024 - 2030

Europe Recycled Plastics Market Growth & Trends

The Europe recycled plastics market size is anticipated to reach USD 20.76 billion by 2030 and is projected to grow at a CAGR of 9.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The stringent regulations regarding recycling in the European region and growing awareness in stakeholders for the environment are the critical reasons for market growth. Countries such as Germany, the UK, and France are incentivizing the production of recycled plastics and giving organizations more reasons to adapt. Heavy taxations are levied on virgin plastic/single-use plastic output, and the focus on the circular plastics economy is greatly emphasized.

A fully developed recycling infrastructure attracts the interest of organizations, brainstorming, and creating economies of scale. Concepts like the Extended Producer Responsibility Report (EPR) in the UK help organizations be responsible with their production and take the production responsibility to the post-consumption stage. In February 2021, in collaboration with Stena Recycling, Electrolux developed a visionary vacuum cleaner made entirely from post-consumer electronics, aligning with their goal to incorporate at least 50% recycled materials in all products by 2030. This innovative vacuum cleaner is committed to sustainability and circularity in household appliances.

Europe Recycled Plastics Market Report Highlights

• Polyethylene dominated the product segment with a market share of 33.1% in 2023 due to its unique properties of heat resistance, impermeability, and transparency. Polypropylene is expected to grow at the fastest CAGR during the forecast period.
• Plastic bottles held the largest market share in the source segment in 2023. The extensive use of plastic containers in consumer goods and cosmetics contributed to this demand. Polymer foams are expected to grow at the fastest CAGR during the forecast period as their use increases in the electrical sector.
• The packaging sector had the largest market share in 2023. The building & construction segment is expected to grow at the fastest CAGR over the forecast period.
• Germany emerged as the critical country in the Europe market in 2023. Stringent regulations and government incentives played a crucial role in their promotion.
• In January 2024, Fortum collaborated with Meraxis to distribute Fortum Circo, a recycled plastic material, to wider European audiences. The recycled plastic granules they distribute are collected initially from Nordic consumers and made with standard procedures to have consistency, quality, and versatility in their material.
• In February 2024, The UKRI awarded £3.2 million for projects focusing on enhancing plastics recycling and stimulating the use of recycled plastics, including new sorting and recycling technologies to influence consumer recycling behavior at home.

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