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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Recycled Plastics Market Outlook
The global recycled plastics market size stood at a value of USD 44.71 billion in 2023. The industry is estimated to witness a CAGR of 6.1% during the forecast period of 2024-2032 to attain a value of USD 76.17 billion by 2032.
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On the basis of plastic type, the polyethylene terephthalate (PET) segment accounted for the most significant market share in 2020. The segment growth is attributed to the increased uses of recycled plastics in the manufacturing of containers, automobile parts, shoes, and luggage, among others.
Based on the application type, the non-food contact packaging segment dominated the recycled plastics market and is expected to continue its dominance over the forecast period. It is widely used in industrial processing for the protection of the products from harsh weather conditions.
On the basis of raw material type, the plastic bottles segment is estimated to account for the largest market share as they are used in numerous applications such as storing carbonated drinks, medicines, and oils, among others.
Regionally, North America dominated the industry in 2020 owing to the increasing demand for recycled plastics and the growing government and organisational initiatives in the region.
Market Segmentation
Plastic recycling is a process of collecting and re-using different types of plastic wastes. Before recycling, the waste and scrap plastic undergo a series of five stages that include sorting, washing, shredding, identification and classification of plastic, and extruding. Products manufactured from plastics are generally non-biodegradable, which can lead to various environmental concerns. Consequently, recycling plastics helps in reducing the amount of waste disposed at landfill sites, which in turn lowers the amount of greenhouse gas emissions released from landfills.
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On the basis of plastic type, the global recycled plastics market is segregated into:
- Polyethylene Terephthalate (PET)
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Low Density Polyethylene (LDPE)
- Others
Based on the raw material types, the industry is divided into:
- Plastic bottles
- Plastic films
- Rigid Plastic and Foam
- Fibres
- Others
The industry is majorly categorised on the basis of the application segment into:
- Non-Food Contact Packaging
- Food Contact Packaging
- Construction
- Automotive
- Others
The EMR report looks into the regional markets of the global recycled plastics market like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The demand for plastic materials is growing at a fast pace across several industries like packaging, food and beverage, automotive, and healthcare. Increasing population, rising disposable incomes, and continuous product innovations are the prime factors attributed to the development of these industries. The robust growth of recycled plastics in the flexible packaging segment, coupled with the rising capital investments in research and development activities in flexible packaging, is also creating ample opportunities for vendors in the recycled plastics market, thus, significantly driving the industry growth. Governments are also enforcing waste disposal taxes, landfill taxes, recycling credit schemes, and deposit refund systems to promote effective waste management. These measures by governments in various economies are further expected to facilitate the growth of the recycled plastics market.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global recycled plastics market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- B. Schoenberg & Co., Inc
- UltrePET, LLC
- Carbonlite Inc.
- Others
The comprehensive report looks into the macro and micro aspects of the recycled plastics industry. The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Plastic Type |
|
| Breakup by Raw Material |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Recycled Plastics Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 44.71 billion.
The market is estimated to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 76.17 billion by 2032.
The major drivers of the market include the thriving packaging sector, rapid urbanisation, expansion of various end use industries, rising investments in research and development activities, and the advancements in recycling technology.
The introduction of favourable government initiatives aimed at encouraging plastic recycling and increasing investments in flexible packaging are the key trends guiding the market.
The major regional markets of recycled plastics include Europe, North America, the Middle East and Africa, Latin America, and the Asia Pacific.
Polyethylene terephthalate (PET), high density polyethylene (HDPE), polypropylene, and low density polyethylene (LDPE), among others, are the several plastic types considered in the market report.
The major raw materials considered in the market report are plastic bottles, plastic films, rigid plastic and foam, and fibres, among others.
The significant applications of recycled plastics are non-food contact packaging, food contact packaging, construction, and automotive, among others.
The major market players include B. Schoenberg & Co., Inc, UltrePET, LLC, and Carbonlite Inc., among others.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124