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Plastic Recycling - Global Market Trajectory & Analytics

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    Report

  • 491 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5028078

FEATURED COMPANIES

  • B. Schoenberg & Co., Inc.
  • Custom Polymers, Inc.
  • Jayplas
  • MBA Polymers, Inc.
  • PARC Corporation
  • Plastipak Holdings, Inc.

Global Plastic Recycling Market to Reach $47.3 Billion by 2026


The process of recovering different classes of plastic materials that can be reused in other forms is known as plastic recycling. Growth in the global market is being driven by ongoing efforts toward environmental sustainability, prompting industries to focus on plastic recycling. The increasing focus on plastic recycling is also attributed to its increasing use in various industrial applications like product packaging, electronic components and automotive interiors. Some of the textile makers are also using recycled plastic for material production. Another prominent factor boosting the market is availability of advanced plastic waste management technologies. Growing government support in countries such as India, China, Southeast Asia, Brazil and European nations to promote the use of recyclable plastic products augurs well for the market. Increasing landfill tax, funding for the recycling related programs, taxes on plastic bags are some such initiatives taken by the governments to curb the environmental effects and thus promote the use of recycled plastics. In this regard, several countries have announced legislations to restrict single-use plastics to reduce their environmental impact. For instance, China has banned the use of non-recyclable plastic in metropolitan cities in 2020 that is expected to be expanded throughout the country by 2022.

Amid the COVID-19 crisis, the global market for Plastic Recycling estimated at US$36.4 Billion in the year 2022, is projected to reach a revised size of US$47.3 Billion by 2026, growing at a CAGR of 6.1% over the analysis period. PET, one of the segments analyzed in the report, is projected to grow at a 6.9% CAGR to reach US$15.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the HDPE segment is readjusted to a revised 5.9% CAGR for the next 7-year period. This segment currently accounts for a 19.6% share of the global Plastic Recycling market. PET (Polyethylene terephthalate) is the dominant segment due to its widespread usage in applications such as food packaging and bottling. Recycled PET has replaced virgin PET in manufacturing packaging bottles due to regulations by many governments on virgin PET. Recycled PET is also used in manufacturing furniture, fibers and carpets, which boosts the market further. Recycled HDPE finds use in manufacturing toys, pipes, ropes, and bins.

The U.S. Market is Estimated at $3.2 Billion in 2022, While China is Forecast to Reach $17.6 Billion by 2026


The Plastic Recycling market in the U.S. is estimated at US$3.2 Billion in the year 2022. The country currently accounts for a 8.9% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$17.6 Billion in the year 2026 trailing a CAGR of 6.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR while Rest of European market (as defined in the study) will reach US$18.8 Billion by the end of the analysis period. Asia-Pacific and China account for a substantial share of the global plastic recycling market. Presence of many bottled water manufacturers makes the region the largest consumer of recycled plastic. However, the ban on import of scrap and waste plastics by China is impacting the market. The US is another major regional market for plastic recycling due to the large volumes of plastic waste being generated. In Europe, the recycled plastic market is driven by the rising use of plastic in packaging, automotive and construction industries and the adoption of regulations to restrict plastic pollution.

LDPE Segment to Reach $7.3 Billion by 2026


Recycled LDPE is used in applications such as floorings, wall panels, furniture, bubble wraps for packaging and garbage cans. In the global LDPE segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.6 Billion will reach a projected size of US$5.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.1 Billion by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period.

Select Competitors (Total 98 Featured):

  • Advanced Drainage Systems, Inc.
  • B & B Plastics Recycling, Inc.
  • B. Schoenberg & Co., Inc.
  • Carbonlite, Inc.
  • Clear Path Recycling, LLC
  • Custom Polymers, Inc.
  • Envisison Plastics
  • Green-O-Tech India
  • Jayplas
  • Kuusakoski Oy
  • KW Plastics
  • MBA Polymers, Inc.
  • NAM Polymers Inc.
  • Norwich Plastics®
  • PARC Corporation
  • Plasgran Ltd.
  • Plastic Recycling Inc.
  • Plastipak Holdings, Inc.
  • Seraphim Plastics LLC
  • Suez
  • UltrePET, LLC
  • United Plastic Recycling
  • Veolia Environnement S.A.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.

FEATURED COMPANIES

  • B. Schoenberg & Co., Inc.
  • Custom Polymers, Inc.
  • Jayplas
  • MBA Polymers, Inc.
  • PARC Corporation
  • Plastipak Holdings, Inc.

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • COVID-19 Causes Significant Disruption to Plastic Recycling
  • Collection Rate of Recyclable Plastic Decreases in 2020
  • Pandemic Set to Exacerbate Ocean Plastic Pollution Issue
  • Traditional Waste Management Practices Find Favor Amidst the Crisis
  • COVID-19 Brings About Significant Changes to Plastic Usage Trends
  • Despite Challenges Presented by COVID-19, Plastic Recycling to be Back in Business
  • An Introduction to Plastic Recycling
  • Plastic Recycling Methods
  • Plastic Recycling by Type
  • Global Market Prospects & Outlook
  • Concerns and Awareness on Pollution Levels Fuel Growth for Plastic Recycling Market
  • PET: The Major Category in Plastics Recycling Market
  • Packaging Emerges as a High Growth End-Use Segment
  • Developing Regions to Spearhead Growth in Plastics Recycling Market
  • Competition
  • World Brands
  • Recent Market Activity
  • Plastic Recycling - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Increase in Plastic Production Volumes Contribute to Plastic Waste, Drives Need for Recycling
  • Global Plastics Production Output in Million Tons for the Years 2009 through 2021E
  • Global Plastics Production by Region/Country (in %): 2021E
  • Global Plastics Usage by Sector (in %): 2021E
  • Expanding World Population & Increase in Economic and Industrial Activity Necessitates Plastic Waste: World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
  • Rising Concerns over Environmental Implications of Plastics Waste Disposal Turns Focus onto Plastics Recycling
  • Top Plastic Polluting Countries by Plastic Waste Production (in Million Tons): 2020E
  • Global Percentage Breakdown of Plastic Waste Generation by End-Use Sector: 2021E
  • Growing Awareness about Energy Savings and Energy Recovery Attributes to Support Plastics Recycling Efforts
  • Government Regulations & Efforts to Promote Use of Recycled Plastic Products Drives Market Growth
  • Global Share of Countries with Regulations Restricting the Usage of Single-Use Items: 20221E
  • Share of Single-Use Plastic Items Banned by Regulations: 2021E
  • As Packaging Industry Becomes the Largest Producer of Plastic Waste, Recycling Becomes an Inevitable Option
  • Global Packaging Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Recycled Packaging Market by Material (in %): 2021E
  • Growing Sales of Packaged Foods & Beverages Contribute to Rise in Plastic Waste, Driving Need for Recycling: Global Packaged Food Sales in US$ Trillion: 2015, 2017, 2019, 2021 & 2023
  • Global Packaged Beverages Market by Material Type: Percentage Share Breakdown by Beverage Volume (2021E)
  • Automotive Industry: A Major Market for Recycled Plastics Faces Challenging Times Amidst the COVID-19 Pandemic
  • Reduction in Automotive Demand in 2020E (In Million Vehicles)
  • Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Post COVID-19 Recovery in Automobile Production to Spur Growth in Recycled Plastics Market: World Automobile Production in Million Units for 2008-2022
  • Despite the COVID-19 Impact, Long-term Outlook for Plastic Recycling in Construction Industry Remains Promising
  • Global Construction Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Global Construction Spending (In US$ Trillion) for 2019, 2020 & 2021
  • Recycled Plastics Continue to Hold Significance for the Textile Industry
  • With China Banning Imports of Scrap or Waste Plastics, Market Confronts Tough Times
  • China’s Ban on Plastic Waste Imports Affects Developed Countries: US Exports of Plastic Waste by Country for H1 2017 Vs H1 2018
  • Top Exporters of Plastic Waste Globally: Export of Plastic Waste and Scrap in Thousand Tons by Country for 2018
  • Advent of Innovative Systems Streamline Plastics Recycling Process
  • Ongoing Technological Advancements in Plastic Recycling Market: A Brief Overview
  • Plastic Recycling Market Faces Stiff Challenge as Manufacturers Incline Towards Virgin Plastics
  • Oil Prices Impact Plastic Recycling Market
  • Global Brent Crude Oil Price Trends in US$/barrel: Jan 2020-Apr2021
  • The Pandemic and Fall in Oil Prices Adversely Impacts Global Plastic Recycling Industry in 2020
  • Complications of Recycling Plastic: A Brief Review
  • Difficulties in Raw Material Collection Affects Plastics Recycling Market
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • COVID-19 Pandemic Hampers Plastics Recycling Initiatives in the US
  • Labor Shortages on the Rise
  • Supply of Recycled Plastics Impacted
  • Demand for Bottled Beverages Dull, Supply of Recycled PET Hit
  • COVID-19 Hits Hard at Plastic Recycling Rate in the US
  • USA Faces the Issue of Lack of Sufficient Infrastructure for Waste Recycling
  • Increasing Focus on Employing Sustainable Technologies Fuel Growth in Plastic Recycling Market
  • Plastic Recycling Remains a Small Market: Breakdown of Plastic Waste in the US Municipal Waste Disposal by Method (in %): 2021E
  • Waste Recycled by Americans: % of Waste Recycled by Material in the US for 2021E
  • China’s Ban on Import of Plastic Waste Severely Impacts US Plastics Industry
CANADA
  • Increasing Plastic Waste in Canada Polluting the Nation’s Fresh Water Sources
JAPAN
CHINA
  • Market Overview
EUROPE
  • COVID-19 Brings About Changes in Consumer Behavior, Impacts Recycling
  • Recycling Rates of Packaging by Material in Europe: 2021E
  • Recyclability of Single-Use Packaging in the UK: Share of Recyclability of Own Brand Plastic Packaging by Supermarket (2021E)
FRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPEASIA-PACIFIC
AUSTRALIA
  • INDIA India Poised to Benefit from High Plastic Recycling Rates
SOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTAFRICA
IV. COMPETITION
  • Total Companies Profiled: 98

A selection of companies mentioned in this report includes:

  • Advanced Drainage Systems, Inc.
  • B & B Plastics Recycling, Inc.
  • B. Schoenberg & Co., Inc.
  • Carbonlite, Inc.
  • Clear Path Recycling, LLC
  • Custom Polymers, Inc.
  • Envisison Plastics
  • Green-O-Tech India
  • Jayplas
  • Kuusakoski Oy
  • KW Plastics
  • MBA Polymers, Inc.
  • NAM Polymers Inc.
  • Norwich Plastics®
  • PARC Corporation
  • Plasgran Ltd.
  • Plastic Recycling Inc.
  • Plastipak Holdings, Inc.
  • Seraphim Plastics LLC
  • Suez
  • UltrePET, LLC
  • United Plastic Recycling
  • Veolia Environnement S.A.