Europe Recycled Plastics Market Forecast 2024-2032

Europe Recycled Plastics Market Forecast 2024-2032

The Europe recycled plastics market is estimated to progress with a CAGR of 8.42% during the forecast period of 2024-2032 and is set to reach a revenue of $47903.31 million by 2032. In terms of volume, the market is predicted to grow with a CAGR of 2.51% between 2024 to 2032.

MARKET INSIGHTS

Across Europe, there is a significant emphasis on advancing towards a circular economy, which prioritizes the reuse and recycling of resources rather than their disposal after a single use. As part of this shift, numerous initiatives are in place to encourage the utilization of recycled materials, including plastics, across various industries.

European nations have adopted stringent regulations and policies designed to minimize plastic waste and enhance recycling efforts. These regulations typically include ambitious targets for recycling rates, restrictions on single-use plastics, and mandates for incorporating recycled content in products. Such measures are instrumental in driving the demand for recycled plastics and fostering a more sustainable approach to resource management.

REGIONAL ANALYSIS

The Europe recycled plastics market assessment comprises the study of the United Kingdom, Germany, France, Italy, Spain, the Netherlands, Norway, and Rest of Europe. According to Plastics Europe, in 2020, approximately 37% of the 3,931 kilotons of plastic waste generated in the United Kingdom underwent treatment. A report by WRAP highlights that plastic packaging accounts for nearly 70% of the UK’s plastic waste, underscoring the critical role of packaging in the country’s plastic waste management strategies.

The primary focus of plastic recycling efforts in the UK is on addressing the challenges associated with plastic packaging due to its significant contribution to the overall plastic waste stream. As a result, initiatives aimed at improving recycling rates and processes have been particularly targeted at this sector. These approaches include the development of advanced recycling technologies, such as chemical and mechanical recycling, to enhance the efficiency and effectiveness of plastic recycling processes. Additionally, substantial investments have been made in infrastructure for plastic collection, sorting, and processing to establish a more robust recycling ecosystem.

On the other hand, in France, the recycled plastics market has been undergoing notable changes and growth, driven by industry dynamics and strong government policies promoting sustainability. In 2021, the number of enterprises involved in the manufacturing of plastics in primary forms increased by 36, marking a 25.17% rise from the previous year and bringing the total to 179. This growth reflects a heightened interest in the plastics industry, fueled by both innovation and regulatory advancements.

A key regulatory milestone is France’s landmark 2020 Anti-Waste Law, which has introduced significant changes to the market. This law has mandated a ban on plastic packaging for various produce, including oranges, bananas, and carrots, starting in January 2022, with a complete prohibition on wrapping fruits and vegetables in plastic by 2026. Additionally, the law sets a national target to eliminate single-use plastics by 2040, with interim goals including a 20% reduction in plastic used for single-use packaging by 2025.

SEGMENTATION ANALYSIS

The Europe recycled plastics market segmentation includes recycling process, source, type, plastic type, and end-user. The source segment is further bifurcated into bottles, films, foam, and other sources. Plastic bottles constitute a significant portion of global plastic waste and are a major concern for environmental pollution. Their pervasive use in everyday items, such as water bottles and soda containers, highlights their impact on waste management and environmental conservation. These bottles are predominantly made from various types of plastics, each with distinct properties and environmental implications.

One of the most widely used plastics for bottle production is polyethylene terephthalate (PET). PET is favored for its lightweight, durable, and transparent qualities, which make it an excellent choice for packaging beverages like water, soft drinks, and juices. High-density polyethylene (HDPE) is another common plastic used in bottle manufacturing. HDPE is noted for its strength, chemical resistance, and versatility, which makes it suitable for applications such as milk jugs, detergent bottles, and shampoo containers.

COMPETITIVE INSIGHTS

Some of the major players operating in the Europe recycled plastics market are Indorama Ventures PCL, Plastipak Holdings Inc, Veolia Environment SA, etc.

Veolia Environment SA, headquartered in France, is a leading provider of comprehensive environmental management services, catering to a wide array of sectors. The company offers a range of solutions that include drinking water treatment and distribution, wastewater treatment, waste collection, waste-to-energy processing, and hazardous waste management.

In addition to these services, Veolia delivers energy solutions that span the entire conversion cycle— from sourcing energy inputs for industrial sites to constructing and upgrading facilities and ultimately marketing the generated electricity. Veolia serves a diverse clientele that includes public authorities, local governments, industrial and commercial enterprises, and individuals. The company’s operations extend across Europe, Asia, North America, Latin America, Africa, the Middle East, and Oceania.

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