Global Plastic Recycling Market Size is valued at USD 46.8 Billion in 2024 and is predicted to reach USD 101.6 Billion by the year 2034 at a 8.1% CAGR during the forecast period for 2025-2034.
Plastic recycling reclaims several categories of plastic materials that can be utilized in other contexts. Global plastic recycling market demand is fueled by increasing environmental sustainability practices, which have prompted businesses to concentrate on plastic recycling. The growing usage of plastic in several industrial uses, including food packaging, electrical devices, and automobile upholstery, is another factor contributing to the increased attention on plastic recycling. Several textile manufacturers also produce materials from recycled plastic.
Key Industry Insights & Findings from the Report:
The availability of cutting-edge technologies for managing plastic trash is another significant driver driving the plastic recycling market growth. Ample growth prospects are also foreseen in the worldwide plastic recycling market due to producers' consistently rising R&D expenditures to create sustainable and environment and compostable plastics from plastic waste.
Additionally, it is anticipated that the growing use of recycled plastic goods for manufacturing materials in the textile industry will spur plastic recycling market expansion soon. However, the lack of knowledge about the value of recycled plastics in reducing the need for virgin plastics and the high cost of recycled products because collecting plastic garbage is a tough task are impeding the growth of the plastic recycling business.
The market is divided into material and application. Based on material, the plastic recycling market is segmented as PET, PP, HDPE, LDPE, PS, PVC and Others. By application, the plastic recycling market is segmented into packaging, food contact, non-food contact construction, textile, automotive, etc.
The packaging category will hold a major share of the global plastic recycling market in 2021. Plastics, including polyethylene terephthalate, high-density polyethylene, and polypropylene, are recycled and utilized in various packaging applications worldwide. Because consumers are becoming more aware of the advantages of recycled plastics, an increased demand for sustainable packaging is anticipated to fuel the market's expansion throughout the projected period. Due to customer demand for environmentalism, biodegradable materials will be used more often in food-grade packaging. The market is anticipated to rise during the forecast period due to the rising need for plastic recycling in the packaging industry. This increased demand is predicted to encourage greater plastic recycling.
The PET segment is projected to grow rapidly in the global plastic recycling market. One of the most abundant and widely used types of plastic, this material is used extensively in various industries, including clothes, carpets, automotive components, structural materials, and food packaging. PET is the most recycled plastic globally because it is so simple. Scientific institutions and industry players are actively contributing to the market's expansion of recycled PET portfolios since the material has a variety of qualities and a large range of end-use applications., especially in countries such as the US, Germany, the UK, China, and India.
The North American plastic recycling industry is expected to witness the highest market share in revenue shortly. The strict restrictions on the use of virgin plastic and public programs to promote the use of recycled content are primarily to blame for the market expansion in North America. The industry will rise in the following years due to large consumer goods providers such as Coca-Cola, Walmart, Campbell, and other suppliers substituting recycled materials for traditional plastics. In addition, the Asia Pacific region is predicted to increase in the global plastic recycling market. Its supremacy attributed to Asia-Pacific is the main center for plastic recycling since labor is inexpensive and a sizable customer base exists. Also, encouraging government policies to promote recycled plastic is anticipated to fuel market expansion in this region.
|
Report Attribute |
Specifications |
|
Market size value in 2024 |
USD 46.8 Billion |
|
Revenue forecast in 2034 |
USD 101.6 Billion |
|
Growth rate CAGR |
CAGR of 8.1% from 2025 to 2034 |
|
Quantitative units |
Representation of revenue in US$ Mn, Volume (KT), and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Material And Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; Japan; Brazil; Mexico; The UK; France; Italy; Spain; Japan; India; South Korea; Southeast Asia |
|
Competitive Landscape |
Kuusakoski, Berry Global Inc., B&B Plastic Inc., Plastipak Holdings, Inc., WM Recycle America, LLC, Carbonite Industries LLC, Custom Polymers, Inc., Dart Container Corporation, Novolin, KW Plastics, MBA Polymers Inc. And Well pine Plastic Industrial Co., Ltd". |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Plastic Recycling Market Snapshot
Chapter 4. Global Plastic Recycling Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Material Estimates & Trend Analysis
5.1. by Material & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Volume (Kilotons)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Material:
5.2.1. PET
5.2.2. PP
5.2.3. HDPE
5.2.4. LDPE
5.2.5. PS
5.2.6. PVC
5.2.7. Others
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Volume (Kilotons)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Application:
6.2.1. Packaging
6.2.1.1. Food Contact
6.2.1.2. Non-food Contact
6.2.2. Automotive
6.2.3. Construction
6.2.4. Textiles
6.2.5. Others
Chapter 7. Plastic Recycling Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Material, 2021-2034
7.1.2. North America Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Application, 2021-2034
7.1.3. North America Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Material, 2021-2034
7.2.2. Europe Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Application, 2021-2034
7.2.3. Europe Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Material, 2021-2034
7.3.2. Asia Pacific Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Application, 2021-2034
7.3.3. Asia Pacific Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by country, 2021-2034
7.4. Latin America
7.4.1. Latin America Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Material, 2021-2034
7.4.2. Latin America Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Application, 2021-2034
7.4.3. Latin America Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Material, 2021-2034
7.5.2. Middle East & Africa Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by Application, 2021-2034
7.5.3. Middle East & Africa Plastic Recycling Market Revenue (US$ Million) & Volume (Kilotons) Estimates and Forecasts by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. B&B Plastics Inc.
8.2.2. Berry Global Inc.
8.2.3. CarbonLite Industries LLC
8.2.4. Custom Polymers Inc.
8.2.5. Dart Container Corporation
8.2.6. Envision Plastics
8.2.7. Fresh-Pak Corporation
8.2.8. Green-O-Tech India
8.2.9. Jayplas
8.2.10. Joe’s Plastics Inc.
8.2.11. Kuusakoski Group Oy
8.2.12. KW Plastics Inc.
8.2.13. MBA Polymers Inc.
8.2.14. Montello S.p. A.
8.2.15. MTM Plastics GmbH
8.2.16. Novolex
8.2.17. Plasgran Ltd.
8.2.18. Plastic Recycling Inc.
8.2.19. Plastipak Holdings, Inc.
8.2.20. Recycled Plastics UK
8.2.21. RJM International Inc.
8.2.22. Seraphim Plastics
8.2.23. Shakti Plastics Industries
8.2.24. Teijin Limited
8.2.25. Ultra Poly Corporation
8.2.26. UltrePET
8.2.27. Veolia
8.2.28. Wellpine Plastic Industrial Co., Ltd.
8.2.29. WM Recycle America, LLC
8.2.30. Other Prominent Players
Plastic Recycling Market By Material
Plastic Recycling Market By Application
Plastic Recycling Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
