Europe Recycled Plastics Market Size and Forecasts 2020-2030, Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type, Source, Application, and Country

The Europe recycled plastics market size accounted for US$ 11.53 billion in 2022 and is expected to reach US$ 15.13 billion by 2030; the market is estimated to record a CAGR of 3.5% from 2022 to 2030.
The recycled plastics materials include polypropylene, polyethylene, polyvinyl chloride, and polyethylene terephthalate. The utilization of recycled plastics is majorly driven by several end-use industries, including automotive, building & construction, packaging, and electrical & electronics. The manufacturing companies provide recycled plastic to other companies in different industries such as automotive and building & construction. Plastic is recycled using recycling technologies such as mechanical recycling or chemical recycling. Mechanical recycling is a commonly used technology wherein plastics are melted and reprocessed into new plastic products. Chemical recycling involves the breakdown of plastics at the scale of their chemical constituents, enabling the formation of high-quality recycled materials.
Based on source, the Europe recycled plastics market is segmented into residential waste, commercial waste, and industrial waste. The industrial waste segment accounted for the largest Europe recycled plastics market share in 2022. Industrial waste comprises electrical and electronic wastes, plastic coverings and enclosures, and non-food packaging. Industrial waste generally includes many types of materials, including plastic, metal, composites, wood, paper, and fiber depending on the type of operations and manufacturing process. Therefore, sorting and pre-processing of industrial waste form crucial steps of recycling process. Industrial waste can generally contain toxins, contaminants, additives, pigments, and other hazardous chemicals.
Based on country, the Europe recycled plastics market is segmented into countries such as Germany, France, Italy, the UK, Netherlands, and the Rest of Europe. Germany accounted for the largest Europe recycled plastics market share in 2022. The growing demand for recycled plastics from industries such as packaging, automotive, building and construction, consumer goods, and others is driving the recycled plastics market growth in Germany. According to Germany Trade & Investment, in 2021, the automotive sector reported a turnover of US$ 407.76 billion, which is around 20% of total German industry revenue. The demand for vehicles made in the country is growing consistently. Germany marks the presence of Mercedes-Benz AG, Bayerische Motoren Werke AG, Audi AG, and Volkswagen AG. Growing utilization of recycled plastics-based automotive components and government initiatives for regulating plastic waste would create potential business opportunities for the recycled plastics market in Germany. Moreover, increasing demand for green construction materials due to rising preference for sustainable construction supports the market growth in the country.
Some of the key players operating in the Europe recycled plastics market are Biffa Plc, Remondis SE & Co KG, Veolia Environnement SA, Jayplas Ltd, Plastipak Holdings Inc, Recyclex SA, Enva UK Ltd, Vanden Recycling Ltd, 3P Plast srl, and CY Plastic Recycling. Players operating in the Europe recycled plastics market focus on providing high-quality products to fulfil customer demand. Also, they focus on adopting various strategies such as capacity expansion, partnerships, and collaborations to stay competitive in the market.
The overall Europe recycled plastics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the Europe recycled plastics market.

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• Highlights key business priorities in order to assist companies to realign their business strategies.
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• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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