Europe Recycled Plastics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Europe Recycled Plastics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The Europe recycled plastics market size reached 12.1 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 16.4 Million Tons by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Recycled plastic refers to the scrap or waste plastic that is again recovered to manufacture useful products with the help of various recycling processes. When different types of plastics are melted together, they tend to phase-separate, like oil and water, and are set in the form of layers. The recycling is generally done using heat compression method or the monomer recycling process that reverses the polymerization reaction in order to recycle the same type of condensed polymer. Europe is the second largest producer of plastics in the world, after China. Huge plastic production in the region leads to the generation of enormous quantities of plastic waste that harms the environment. The recycling of such large amounts of waste plastics helps a lot in energy conservation, saving natural resources that are used to make virgin plastics, clearing landfill space, thereby maintaining a balance in the plastics industry in the region.

According to the European Association of Plastic Manufacturers, the plastic waste recycling has increased by almost 80% in last 10 years in Europe. The concerns rising out due to the difficulty in disposal of virgin plastics, growing awareness about energy savings and the increasing usage of waste plastics in many applications are expected to positively influence the growth of the recycled plastics market in the region. The plastic industry also represents as one of the major sectors of the European economy. The demand for various plastics is rising in packaging, building & construction and automotive sectors across various European countries, thereby creating a positive impact on the overall recycled plastics demand. Moreover, many associations and commissions have been formed to create awareness about the plastic recycling among manufacturers, distributors as well as European citizens. Concerns regarding waste disposal and contamination of plastic waste are driving the adoption of recyclable plastics specially in the food and beverages packaging sector, consumer and retail sector. Catalyzed by such factors, the European recycled plastic market is expected to surge in the coming years. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe recycled plastics market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on source, application and plastic type.

Breakup by Source:

Plastic Bottles
Plastic Films
Rigid Plastics and Foams
Fibres
Others

Currently, plastic bottles accounts for majority of the market share in the region.
 
Breakup by Application:

Packaging
Electrical and Electronic
Automotive
Agriculture
Construction and Demolition
Household (Non-Packaging Use)
Others


Currently, packaging segment accounts for the largest share in the region.
 

Breakup by Plastic Type:

Polyethylene Terephthalate (PET)
High Density Polyethylene (HDPE)
Polypropylene (PP)
Low Density Polyethylene (LDPE)
Others

 
Currently, polyethylene terephthalate (PET) plastics represent the leading segment among all the recycled plastic types in the region.

Breakup by Country:

Germany
UK
Italy
France
Spain
Others

 
Currently, Germany represents the largest market for recycled plastics in Europe.
 

Competitive Landscape:

The report has also examined the competitive landscape of the European recycled plastics market. Some of the major players include:

Müller-Guttenbrunn Group
MBA Polymers, Inc.
Paprec Group
Morssinkhof Rymoplast

Key Questions Answered in This Report:

What was the size of the Europe recycled plastics market in 2022?
What is the expected growth rate of the Europe recycled plastics market during 2023-2028?
What are the key factors driving the Europe recycled plastics market?
What has been the impact of COVID-19 on the Europe recycled plastics market?
What is the breakup of the Europe recycled plastics market based on the source?
What is the breakup of the Europe recycled plastics market based on the application?
What is the breakup of the Europe recycled plastics market based on the plastic type?
What are the key regions in the Europe recycled plastics market?
Who are the key players/companies in the Europe recycled plastics market?