Recycled Ocean Plastics Market Share, Size, Trends, Industry Analysis Report, By Resin Type; By Source (Plastic Bottles & Caps, Fishing Line & Nets, Plastic Bags, Others); By End-Use; By Region; Segment Forecast, 2023 - 2032

Recycled Ocean Plastics Market Share, Size, Trends, Industry Analysis Report, By Resin Type; By Source (Plastic Bottles & Caps, Fishing Line & Nets, Plastic Bags, Others); By End-Use; By Region; Segment Forecast, 2023 - 2032

The global recycled ocean plastics market size is expected to reach USD 3,448.91 million by 2032, according to a new study by Polaris Market Research. The report “Recycled Ocean Plastics Market Share, Size, Trends, Industry Analysis Report, By Resin Type; By Source (Plastic Bottles & Caps, Fishing Line & Nets, Plastic Bags, Others); By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing awareness of plastic recycling has led to the growth of the recycling of ocean plastics worldwide. Governments and non-profit groups are actively working to reduce plastic use and recycle plastic waste. However, plastic pollution from land-based and marine sources threatens marine life and human health. Ingestion and entanglement in plastic waste cause harm to marine wildlife, negatively impacting ecosystem health and fisheries sustainability.

The demand for recycled plastic is expected to rise steadily, with Europe and the Asia Pacific taking the lead in engaging in the recycling plastics market. Although the COVID-19 pandemic initially impacted the growth of the recycled ocean plastics market, it later increased, leading to positive outcomes over the forecast period.

While the growth of the recycling plastics market is encouraging, plastic pollution remains a significant challenge that needs urgent attention. Addressing plastic waste in land-based and marine sources is critical to protecting marine life and human health. Efforts to reduce plastic use and promote recycling must be sustained to achieve a cleaner and healthier environment.

Recycled Ocean Plastics Market Report Highlights

Plastic bottles & caps segment held the highest market share in 2022 due to their practicality & affordability for packaging various products. However, improper disposal can lead to negative environmental impacts and harm ecosystems, wildlife, and human health.

The apparel segment leads the industry and is growing due to an increased focus on sustainability in the fashion industry. Many brands are using recycled ocean plastics to create eco-friendly clothing. This involves collecting and processing plastic waste into the fabric, resulting in durable and water-resistant products such as t-shirts, swimsuits, and shoes.

Asia-Pacific dominates the global industry due to various government and private initiatives to tackle plastic pollution and increase the use of recycled ocean plastic. Japan promotes using recycled plastic in consumer goods, such as ASICS' line of shoes made from recycled ocean plastic.

The global key market players include Ocean Plastic Technologies, THE OCEAN CLEANUP, Oceanworks, OCEANPLASTIK SRO, Seaqual Initiative, WATERHAUL, BIONIC, Bureo, Aquafil S.p.A, Tide Ocean SA, PLASTIX, POPSICASE, Parley For the Oceans, and Waste2Wear

Polaris Market Research has segmented the Recycled Ocean Plastics market report based on resin type, source, end-use, and region:

Recycled Ocean Plastics, Resin Type Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)

PET

HDPE

LDPE

PP

PVC

PS

Others

Recycled Ocean Plastics, Source Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)

Plastic Bottles & Caps

Fishing Line & Nets

Plastic Bags

Others

Recycled Ocean Plastics, End-Use Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)

Online

Recycled Ocean Plastics, Regional Outlook (Volume - kiloton, Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa