India Plastic Recycling Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Type, End-User Industries, Sales Channel, Regional Demand, FY2015-FY2030

The India Plastic Recycling market stood at approximately 5700 thousand tonnes in FY2023 and is likely to grow at a steady CAGR of 5.84% in the forecast period by FY2030.

The plastic recycling industry in India is rapidly growing owing to the rise in the number of small-scale processing plants in the country and the increasing focus of non-governmental entities on the secondary use economy. Plastic recycling has various benefits such as financial benefits, reducing the need for the production of fresh plastics, creating employment opportunities, and reducing energy consumption. Additionally, the growing packaging industry is spurring the demand for PET and HDPE for packaging applications, which is likely to enhance the plastic recycling market. One of the key strategies to reduce waste output and make the nation more environmentally friendly is through the recent initiative of several fashion firms, which have started recycling PET plastic bottles into clothing. In FY2022, the government called for an end to using single-use plastics by eliminating single-use plastics which were used to make items like disposable food plates, forks, earbuds, etc. One of the key strategies to reduce waste output and make the nation more environmentally friendly is through the recent initiative of using recycled PET bottles for packaging. All these factors are anticipated to positively augment the Plastic Recycling market in the forecast period and reach nearly 8500 thousand tonnes in FY2030.

Based on region, the India Plastic Recycling Market is segregated into North, South, East, and West. Among these, West India has been the key player. In FY2023, West India accounted for approximately 38% of the market and is likely to dominate the market in the forthcoming years.

Based on type, the Plastic Recycling market is segregated into Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others. Among these, Polyethylene Terepthalate (PET) is the most widely used one in the nation with a market share of 35%. PET is a versatile chemical with various uses like water bottle and carbonated soft drink packaging applications, blister, and packaging trays. PET bottles can be easily recycled and converted into recycled PET with major application in packaging.

Based on end-use, the India Plastic Recycling market is segregated into Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others. Although, the Packaging industry is dominating the Plastic Recycling market with about 37% of the market share in FY2023 and is anticipated to dominate the market even in the forecast period. Plastic sachets enable low-income consumers to purchase tiny quantities of goods that they otherwise would not be able to afford, frequently goods that offer hygiene or nutrition benefits like toothpaste, cream, and shampoo. Yet, it is particularly challenging to enhance flexible packagings, such as sachets and pouches.

Domestic players in the India Plastic Recycling market are Pashupati Polytex Pvt. Ltd., Jairam Plastic Industries, Jayachandran (JCG) Plastics Private limited, Luckystar International Pvt. Ltd., Al Mehtab Industries Pvt. Ltd, AGL Polyfil Private Limited, Archieve Eco Tech Private Limited, Halifax Greentech LLP, Shakti Corporation Pvt. Ltd., UFlex Limited, and Others.

Years considered for this report:

Historical Period: FY2015-FY2023

Base Year: FY2023

Estimated Year: FY2024

Forecast Period: FY2025- FY2030

Objective of the Study:

• To assess the demand-supply scenario of Plastic Recycling which covers production, demand and supply of Plastic Recycling market in India.
• To analyse and forecast the market size of Plastic Recycling in India.
• To classify and forecast India Plastic Recycling market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Plastic Recycling market in India.

To extract data for India Plastic Recycling market, primary research surveys were conducted with Plastic Recycling manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Plastic Recycling market over the coming years.

ChemAnalyst calculated Plastic Recycling demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Plastic Recycling to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience:

• Plastic Recycling manufacturers and other stakeholders
• Organizations, forums and alliances related to Plastic Recycling distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Plastic Recycling manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, India Plastic Recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, by Type: Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others

• Market, by End-use: Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others
• Market, by Sales Channel: Direct Sale and Indirect Sale
• Market, by Region: North India, South India, East India, West India

Available Customizations:

With the given market data, ChemAnalyst offers customizations according to a company's specific needs.