Recycled Plastic Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Recycled Plastic Market Trends and Forecast

The future of the recycled plastic market looks promising with opportunities in the packaging, textiles, building & construction, automotive, and electrical & electronics industries. The global recycled plastic market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028. The major drivers for this market are increasing plastic consumption in the production of lightweight components in various industries, growing acceptance and consumption of recycled plastics in the textile industry, increasing usage in packaging, automotive, and electrical & electronics industries, and development of cost-effective and sophisticated recycling technologies.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched and other details of the global recycled plastic market report, please download the report brochure.

Recycled Plastic Market by Segment

The study includes a forecast for the global recycled plastic market by product type, source, end use industry, and region, as follows:

Recycled Plastic Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Polyethylene
• Polyethylene Terephthalate
• Polypropylene
• Polyvinyl Chloride
• Polystyrene
• Others

Recycled Plastic Market by Source [Value ($B) Shipment Analysis from 2017 to 2028]:

• Bottles
• Films
• Fibers
• Foam
• Others

Recycled Plastic Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Building & Construction
• Packaging
• Electrical & Electronics
• Textiles
• Automotive
• Others

Recycled Plastic Marketby Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Recycled Plastic Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies recycled plastic companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the surgical lasers’ companies profiled in this report include.

• Indorama Ventures
• Biffa
• Stericycle
• Republic Services
• WM Intellectual Property Holdings
• Veolia
• Shell International BV
• Waste Connections
• Clean Harbors
• Covetsro AG

Recycled Plastic Market Insights

• Lucintel forecasts that polyethylene will remain the largest segment over the forecast period due to the high demand for packaging material in consumer goods, food & beverage, industrial, and various other industries. Also, it is commonly used in laundry detergent packaging, milk cartons, cutting boards, and garbage bins, among various other applications.
• Packaging is expected to remain the fastest growing segment due to the rising demand for packaged foods & beverages, electrical & electronics, and textiles, rapid growth of e-commerce across the globe, and the volume of orders through e-commerce platforms have increased dramatically that resulted in the extensive use of recycled plastic for the packaging of products.
• APAC will remain the largest region due to rapid growth of the food and beverages, electrical and electronics, automotive, e-commerce industry, and several other industries that have significantly contributed towards the growing consumption of recycled plastics in this region. The rising development of non-residential construction projects, including hospitals, commercial buildings, malls, schools, and colleges will drive the demand for plastics in the roofing tiles, insulation, fences, floor tiles, carpets, and various other construction applications.

Features of the Recycled Plastic Market

• Market Size Estimates: Recycled plastic market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Recycled plastic market size by various segments, such as by product type, source, end use industry, and region.
• Regional Analysis: Recycled plastic market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different segments by product type, source, end use industry, and regions for the recycled plastic market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the recycled plastic market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the recycled plastic market size?

Answer: The global recycled plastic market is expected to reach an estimated $xx billion by 2028.

Q2. What is the growth forecast for recycled plastic market?

Answer: The global recycled plastic market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the recycled plastic market?

Answer: The major drivers for this market are increasing plastic consumption in the production of lightweight components in various industries, growing acceptance and consumption of recycled plastics in the textile industry, increasing usage in packaging, automotive, and electrical & electronics industries, and development of cost-effective and sophisticated recycling technologies.

Q4. What are the major segments for recycled plastic market?

Answer: The future of the recycled plastic market looks promising with opportunities in the packaging, textiles, building & construction, automotive, and electrical & electronics industries.

Q5. Who is the key recycled plastic companies?

Answer: Some of the key recycled plastic’s companies are as follows:

• Indorama Ventures
• Biffa
• Stericycle
• Republic Services
• WM Intellectual Property Holdings
• Veolia
• Shell International BV
• Waste Connections
• Clean Harbors
• Covetsro AG

Q6. Which recycled plastic segment will be the largest in future?

Answer:Lucintel forecasts that polyethylene will remain the largest segment over the forecast period due to the high demand for packaging material in consumer goods, food & beverage, industrial, and various other industries. Also, it is commonly used in laundry detergent packaging, milk cartons, cutting boards, and garbage bins, among various other applications.

Q7. In recycled plastic market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to rapid growth of the food and beverages, electrical and electronics, automotive, e-commerce industry, and several other industries that have significantly contributed towards the growing consumption of recycled plastics in this region. The rising development of non-residential construction projects, including hospitals, commercial buildings, malls, schools, and colleges will drive the demand for plastics in the roofing tiles, insulation, fences, floor tiles, carpets, and various other construction applications

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the recycled plastic market by product type (polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and others), source (bottles, films, fibers, foams, and others), end use industry (building & construction, packaging, electrical & electronics, textiles, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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