Recycled Plastics, valued at US$ 18.88 billion in 2023, are forecasted to reach US$ 17.94 billion by 2030, with a -0.7% CAGR reflecting changing market dynamics.
According to Publisher’s latest study, the global Recycled Plastics market size was valued at US$ 18880 million in 2023. With the growing demand in the downstream market, Recycled Plastics are forecast to a readjusted size of US$ 17940 million by 2030 with a CAGR of -0.7% during the review period.
Market Overview
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The research report highlights the growth potential of the global Recycled Plastics market. Recycled Plastics are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Recycled Plastics. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Recycled Plastics market.
Recycled plastics are plastics that are made from post-consumer or post-industrial plastics instead of virgin resin. The process of recycling used plastic from consumable products is an efficient means to reprocess the material into useful products. Many different products make great sources of recyclable material, including soda bottles, plastic packaging, sheets and pellets. Recycled plastic is used to make many different types of products. The type of product that is made out of recycled plastic depends on the type of plastic resin. There are several different types of plastic resin used to make different products, such as PET, PP, HDPE and LDPE.
The market of recycled plastic is highly fragmented with a tail of manufacturers. As the largest production area of recycled plastics, there are more than 3000 companies that supply recycled plastics. The market concentration in developed areas is higher comparatively. Leading suppliers worldwide are Clear Path Recycling, Clean Tech Incorporated, Mohawk Industries Incorporated, CarbonLite Industries, Envision Plastics Industries, Advanced Environmental Recycling Technologies Incorporated, Greentech and Veolia Polymers, which take a combined share of less than 5%.
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Research Consultant
Key Features:
The report on the Recycled Plastics market reflects various aspects and provides valuable insights into the industry.
Market Drivers: Growing applications in the automotive, electrical & electronics, and packaging sectors. The need for recycled plastics will rise in direct proportion to the increased use of these materials by significant players in the automotive, packaging, and electrical and electronics industries. These businesses use more than 6 million tons of plastic packaging annually. Because of this, it is projected that the market for recycled plastics will keep growing due to its increasing application in the automotive, electrical & electronics, and packaging industries.
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Challenges- Having trouble getting raw materials. The market for recycled plastics is heavily reliant on the appropriate gathering of raw materials, plastic fragments or trash. Merely 14% of plastic packaging used worldwide is recycled, with the remaining portion ending up in the oceans every year and harming aquatic species. According to the Ellen MacArthur Foundation, recycling the remaining 86% of wasted plastics may generate enormous profits of between USD 80 and USD 120 billion. But without creating new techniques, it is not possible to anticipate realizing this revenue. Thus, one of the biggest obstacles facing the market's participants is the lack of raw material collecting opportunities.
Negative effects of recycling. The practice of recycling and repurposing discarded and frequently wasted plastics to create new, lower-quality products is known as downcycling.
This implies that the plastic transforms into a different, less functional product rather than into yet another new container. Compared to fresh plastics and other recycled materials, recycled plastics are less useful due to their limited application. Plastic is usually not suitable for further recycling after downcycling. Consequently, it sees secondary usage as a less useful product and ends up in a landfill.
Market Forecasts and Future Outlook: Developments in Recycling Technologies: The production of recycled plastics is becoming more efficient, scalable, and cost-effective, which is fueling market expansion and competitiveness. Examples of these advancements in recycling technologies include chemical recycling, mechanical recycling, and sophisticated sorting systems.
Collaborative Value Chain Partnerships: These relationships promote closed-loop material flows, circular business models, and shared accountability for resource conservation and waste reduction amongst stakeholders in the value chain, such as recyclers, manufacturers, brand owners, and retailers.
Market Expansion in Emerging Economies: Growing consumer awareness, urbanization trends, and government programs supporting waste management and sustainable development are driving prospects for recycled plastics in emerging markets in Asia-Pacific, Latin America, and Africa.
Recommendations and Opportunities: Positive programs to encourage the use of recycled plastics in industrialized nations. Several laws that encourage plastic recycling are in existence or have been proposed in the industrialized economies of North America and Europe. Additionally, several US jurisdictions provide tax breaks or credits to encourage plastic recycling. It is anticipated that this would lead to a notable increase in public sector funding for waste-related initiatives. Thus, it is anticipated that developed economies' beneficial actions will open up new growth prospects for recovered plastics.
Market Segmentation:
The recycled Plastics market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
1. Segmentation by type
• PET
• PP
• HDPE
• LDPE
• Others
2. Segmentation by application
• Packaging
• Construction
• Textile Fiber / Clothing
• Landscaping / Street Furniture
• Others
Regional Insights: The market in Asia Pacific is expected to remain the largest throughout the forecast period due to China and India being the leading recycled plastic-consuming countries. The region is home to numerous producers of bottled water, which contributes to the widespread use of plastic bottles. The market in the area is further highlighted by the packaging industry's rapid growth. China dominates the region since it produces and consumes a large amount of packaging goods. Conversely, there is a notable increase in demand for automotive and construction industry items in Europe. Regulations introduced by the European Union in 2021 to significantly lower the region's use of single-use plastics will bolster the market's expansion. The United States held a greater market share in America as a result of rising demand from the automotive and packaging sectors. Due to the slowdown in the building industry, market growth in America will be less than that of Asia Pacific and Europe; however, the rise in food packaging is anticipated to generate profitable prospects for regional players. The growing need for food packaging and its use in construction are the main drivers of market expansion in the Middle East and Africa. Food packaging will be the main use of recycled plastic in this area. The demand for environmentally friendly, lightweight food packaging is growing, which will increase the usage of these polymers over conventional ones in the area.
3. Americas
• United States
• Canada
• Mexico
• Brazil
4. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
5. Europe
• Germany
• France
• UK
• Italy
• Russia
6. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape- There are numerous local businesses, resulting in a rather fragmented market. By implementing methods like collaborations, acquisitions & mergers, investments, and partnerships, these market players aim to increase their market share. Additionally, businesses are investing in the creation of better products. They are also concentrating on keeping their prices competitive. Different developmental techniques, such as the introduction of new products with cutting-edge characteristics, promote market expansion and present market participants with profitable growth prospects.
• Clear Path Recycling
• Clean Tech Incorporated
• Mohawk Industries Incorporated
• CarbonLite Industries
• Envision Plastics Industries
• Advanced Environmental Recycling Technologies Incorporated
• Greentech
• Veolia Polymers
• Hahn Plastics
• CeDo
• PLASgran
• APR2 Plast
• Luxus
• Visy
• Ripro Corporation
• OOTONE PLASTIC
• Wellpine Plastic Industrial
• Fuqing Topway Plastics Industrial
• Shandong Power Plastic
• Intco
• Jiangsu Zhongsheng
• Suzhou Jiulong Recy & Tech
• Da Fon Environmental technology
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Recycled Plastics Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Recycled Plastics by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Recycled Plastics by Country/Region, 2019, 2023 & 2030
2.2 Recycled Plastics Segment by Type
2.2.1 PET
2.2.2 PP
2.2.3 HDPE
2.2.4 LDPE
2.2.5 Others
2.3 Recycled Plastics Sales by Type
2.3.1 Global Recycled Plastics Sales Market Share by Type (2019-2024)
2.3.2 Global Recycled Plastics Revenue and Market Share by Type (2019-2024)
2.3.3 Global Recycled Plastics Sale Price by Type (2019-2024)
2.4 Recycled Plastics Segment by Application
2.4.1 Packaging
2.4.2 Construction
2.4.3 Textile Fiber / Clothing
2.4.4 Landscaping / Street Furniture
2.4.5 Others
2.5 Recycled Plastics Sales by Application
2.5.1 Global Recycled Plastics Sale Market Share by Application (2019-2024)
2.5.2 Global Recycled Plastics Revenue and Market Share by Application (2019-2024)
2.5.3 Global Recycled Plastics Sale Price by Application (2019-2024)
3 Global Recycled Plastics by Company
3.1 Global Recycled Plastics Breakdown Data by Company
3.1.1 Global Recycled Plastics Annual Sales by Company (2019-2024)
3.1.2 Global Recycled Plastics Sales Market Share by Company (2019-2024)
3.2 Global Recycled Plastics Annual Revenue by Company (2019-2024)
3.2.1 Global Recycled Plastics Revenue by Company (2019-2024)
3.2.2 Global Recycled Plastics Revenue Market Share by Company (2019-2024)
3.3 Global Recycled Plastics Sale Price by Company
3.4 Key Manufacturers Recycled Plastics Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Recycled Plastics Product Location Distribution
3.4.2 Players Recycled Plastics Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for Recycled Plastics by Geographic Region
4.1 World Historic Recycled Plastics Market Size by Geographic Region (2019-2024)
4.1.1 Global Recycled Plastics Annual Sales by Geographic Region (2019-2024)
4.1.2 Global Recycled Plastics Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic Recycled Plastics Market Size by Country/Region (2019-2024)
4.2.1 Global Recycled Plastics Annual Sales by Country/Region (2019-2024)
4.2.2 Global Recycled Plastics Annual Revenue by Country/Region (2019-2024)
4.3 Americas Recycled Plastics Sales Growth
4.4 APAC Recycled Plastics Sales Growth
4.5 Europe Recycled Plastics Sales Growth
4.6 Middle East & Africa Recycled Plastics Sales Growth
5 Americas
5.1 Americas Recycled Plastics Sales by Country
5.1.1 Americas Recycled Plastics Sales by Country (2019-2024)
5.1.2 Americas Recycled Plastics Revenue by Country (2019-2024)
5.2 Americas Recycled Plastics Sales by Type
5.3 Americas Recycled Plastics Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Recycled Plastics Sales by Region
6.1.1 APAC Recycled Plastics Sales by Region (2019-2024)
6.1.2 APAC Recycled Plastics Revenue by Region (2019-2024)
6.2 APAC Recycled Plastics Sales by Type
6.3 APAC Recycled Plastics Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Recycled Plastics by Country
7.1.1 Europe Recycled Plastics Sales by Country (2019-2024)
7.1.2 Europe Recycled Plastics Revenue by Country (2019-2024)
7.2 Europe Recycled Plastics Sales by Type
7.3 Europe Recycled Plastics Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Recycled Plastics by Country
8.1.1 Middle East & Africa Recycled Plastics Sales by Country (2019-2024)
8.1.2 Middle East & Africa Recycled Plastics Revenue by Country (2019-2024)
8.2 Middle East & Africa Recycled Plastics Sales by Type
8.3 Middle East & Africa Recycled Plastics Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Recycled Plastics
10.3 Manufacturing Process Analysis of Recycled Plastics
10.4 Industry Chain Structure of Recycled Plastics
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Recycled Plastics Distributors
11.3 Recycled Plastics Customer
12 World Forecast Review for Recycled Plastics by Geographic Region
12.1 Global Recycled Plastics Market Size Forecast by Region
12.1.1 Global Recycled Plastics Forecast by Region (2025-2030)
12.1.2 Global Recycled Plastics Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global Recycled Plastics Forecast by Type
12.7 Global Recycled Plastics Forecast by Application
13 Key Players Analysis
13.1 Clear Path Recycling
13.1.1 Clear Path Recycling Company Information
13.1.2 Clear Path Recycling Recycled Plastics Product Portfolios and Specifications
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