Recycled Plastics Market by Product, Method, Source, Application

List of Tables

[184 Pages Report] The Recycled Plastics Market size was estimated at USD 47.07 billion in 2023 and expected to reach USD 49.00 billion in 2024, at a CAGR 4.41% to reach USD 63.69 billion by 2030.

Recycled plastics are materials reprocessed from plastic waste, transforming them into usable plastic products or materials. The recycled plastics process involves collecting plastic waste, cleaning and sorting it, breaking it down into plastic flakes or pellets, and then remolding it into new products. The necessity for recycled plastics stems from the urgency to address the environmental issues caused by the overproduction and disposal of virgin plastics. Increasing public consciousness regarding environmental sustainability and reducing plastic pollution drives the recycled plastics market. In addition, initiatives and stringent regulations by governments worldwide mandating the use of recycled materials propel the adoption of recycled plastics. However, contamination levels in plastics and variability in the quantity and quality of recyclable plastic waste present a challenge for the stable production of recycled plastics. Nevertheless, developing sorting techniques that can efficiently differentiate and process various plastics and ongoing investments in new recycled plastic facilities are expected to drive the recycled plastics market in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 47.07 billion
Estimated Year [2024]	USD 49.00 billion
Forecast Year [2030]	USD 63.69 billion
CAGR (%)	4.41%

Product: Growing demand for recycled polyethylene due to widespread use and well-established recycling programs

Polyethylene, comprising subcategories such as High-density Polyethylene (HDPE) and Low-density Polyethylene (LDPE), is extensively used due to its versatility, durability, and recyclability. The preference for HDPE is generally driven by its strength-to-density ratio, making it ideal for products that require resilience, while LDPE is preferred for its flexibility and malleability. Polyethylene Terephthalate (PET) is predominantly used in the textile and packaging industries, with considerable demand for recycled PET in bottle and container manufacturing. Clear PET is preferred for food-grade containers and fiber applications in textiles. Polypropylene (PP) is a popular choice for consumer goods, automotive components, and industrial uses due to its chemical, heat, and fatigue resistance. The need-based preference for recycled PP often stems from its balance of toughness and flexibility and its application in producing items such as garden equipment, storage bins, and automotive parts. Polystyrene (PS) delivers disposable packaging materials, insulation, and other products that require rigid plastic. Polyvinyl chloride is widely used in construction for piping, windows, roofing, and healthcare for medical devices. Recycled PVC's preference is partially due to its longevity and resistance to environmental degradation.

Application: Wide applications of recycled plastics in automotive industry

The automotive industry increasingly utilizes recycled plastics to satisfy environmental targets and reduce carbon footprints. Recycled plastics offer cost benefits and help manufacturers meet sustainability goals. Recycled plastics in the automotive industry are preferred for their durability, heat resistance, and potential to decrease vehicle weight. Recycled plastics in the building and construction industry serve insulation, pipes, and flooring applications. Builders prioritize thermal resistance, stability, and the potential for cost reduction while using recycled plastics. Using recycled plastics in electrical and electronic equipment involves enclosures, insulating materials, and various components. Packaging remains the major sector for recycled plastic use, with applications in containers, wrapping films, and bottles. The increased consumer awareness about sustainable practices and governmental regulations to reduce plastic waste have amplified the demand for recycled packaging materials. The textile industry uses recycled plastic fibers for clothing, home furnishings, and industrial uses. Environmental concerns and consumer demand for sustainable fashion have accelerated the adoption of recycled plastics in textiles. Textile applications require recycled plastics that provide durability, versatility in design, and texture suitability.

Regional Insights

A growing consumer awareness of the environmental impact of plastic waste characterizes the recycled plastics market in the Americas. The countries in the Americas show commitment to reducing plastic waste through government initiatives and private investments in recycling infrastructure. The European Union (EU) countries promote using recycled plastics due to stringent regulations and policies, such as the EU Plastics Strategy and the Circular Economy Action Plan. These policies have encouraged investments in advanced recycling technologies and created a robust market for recycled plastics. Consumer purchasing behavior in the EU is greatly influenced by sustainability credentials, driving companies to incorporate recycled content into their products. While the Middle East is witnessing increased investments to develop recycling facilities, Africa's market is still emerging with substantial opportunities, including efforts to formalize waste collection and recycling sectors. The recycled plastics in the Asia-Pacific is growing, with a focus on improving the quality and capacity of domestic recycling facilities. The government push for increased recycling rates and support for the informal recycling sector in emerging economies has promoted the demand for recycled plastic in the Asia-Pacific.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Recycled Plastics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Recycled Plastics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Recycled Plastics Market, highlighting leading vendors and their innovative profiles. These include Ace Plastics Recycling, Advanced Drainage Systems, Inc., Alpek S.A.B. de C.V., Altium Packaging LP, B & B Plastics Recycling, Inc., B. Schoenberg & Co., Inc., BASF SE, Berry Global Group, Inc., Biffa PLC, Cabka Group GmbH, Covestro AG, Custom Polymers, Inc., Fresh Pak Corporation, Imerys S.A., Indorama Ventures Public Company Limited, Jayplas, K K Asia (HK) Ltd., KW Plastics, Let's Recycle It Ltd, MBA Polymers Inc., Phoenix Technologies International, LLC, Plastic Recycling, Inc., RDB Plastics GmbH, Revolution Company, Shakti Plastic Industries, Stericycle Inc., The Dow Chemical Company, Ultra-Poly Corporation, UltrePET, LLC, Veolia Environnement S.A., and Waste Management, Inc..

Market Segmentation & Coverage

This research report categorizes the Recycled Plastics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Polyethylene
- Polyethylene Terephthalate
- Polypropylene
- Polystyrene
- Polyvinyl Chloride

Method
- Distributed Recycling
- Heat Compression
- Pyrolysis
- Thermal Decomposition

Source
- Fibers
- Plastic Bottles
- Plastic Films
- Polymer Foam
- Rigid Plastic and Foam

Application
- Automotive
- Building & Construction
- Electrical & Electronics
- Packaging
- Textiles

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Recycled Plastics Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Recycled Plastics Market?

3. What are the technology trends and regulatory frameworks in the Recycled Plastics Market?

4. What is the market share of the leading vendors in the Recycled Plastics Market?

5. Which modes and strategic moves are suitable for entering the Recycled Plastics Market?

Product Code: MRR-5A2C6AA660F1

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Surging Need to Manage Plastic Pollution Globally
  - 5.1.1.2. Significant Demand for Recycled Plastic Products From End-User Industries
  - 5.1.1.3. Increasing Government Focus Toward Recycled Plastics
- 5.1.2. Restraints
  - 5.1.2.1. Issues Concerning Plastic Recycling and Regulations for Plastic Recyclables Trade
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of New Methods and Technology for Recycling Plastic
  - 5.1.3.2. Emerging New Products from Recycled Plastics
- 5.1.4. Challenges
  - 5.1.4.1. Environmental and Health Impacts of Recycling Process and Availability of Eco-Friendly Alternatives
5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing demand for recycled polyethylene due to widespread use and well-established recycling programs
- 5.2.2. Application: Wide applications of recycled plastics in automotive industry
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Recycled Plastics Market, by Product

6.1. Introduction
6.2. Polyethylene
6.3. Polyethylene Terephthalate
6.4. Polypropylene
6.5. Polystyrene
6.6. Polyvinyl Chloride

7. Recycled Plastics Market, by Method

7.1. Introduction
7.2. Distributed Recycling
7.3. Heat Compression
7.4. Pyrolysis
7.5. Thermal Decomposition

8. Recycled Plastics Market, by Source

8.1. Introduction
8.2. Fibers
8.3. Plastic Bottles
8.4. Plastic Films
8.5. Polymer Foam
8.6. Rigid Plastic and Foam

9. Recycled Plastics Market, by Application

9.1. Introduction
9.2. Automotive
9.3. Building & Construction
9.4. Electrical & Electronics
9.5. Packaging
9.6. Textiles

10. Americas Recycled Plastics Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Recycled Plastics Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Recycled Plastics Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Samyang Corporation Acquires Global Eco-Friendly Certification for Recycled Plastic Fishing Net Materials
- 13.3.2. DeepTech Recycling Secures Investment for Plastic Recycling Technology
- 13.3.3. SI Group Launches New Brand for Plastics Recycling

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio