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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Recycled Plastics Market Size
The global recycled plastics market 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.
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.
Recycled Plastics Market Report Snapshots
Recycled Plastics Market Analysis
*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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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