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Plastic Recycling - Global Market Trajectory & Analytics

  • ID: 5028078
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • B. Schoenberg & Co. Inc
  • Custom Polymers, Inc.
  • Green-O-Tech India
  • KW Plastics
  • NAM Polymers Inc
  • Plasgran Ltd.
Plastic Usage Increases Amid the COVID-19 Outbreak. Recycling Slumps by -5.1%

In what is emerging to be a biggest blow to the environment, global plastic recycling is expected to slump by -5.1% in the year 2020 and will thereafter recover to grow and reach US$50.4 billion by the year 2027, trailing a post COVID-19 CAGR of 6.2% over the analysis period 2020 through 2027. With the pandemic showing no signs of receding, single use plastic consumption is skyrocketing as the world tries to slow the spread of infections via disposables. Increased use of single-use plastic based medical, commercial, households, industrial & food disposables products is exacerbating the scourge of plastic pollution. Demand for polymers polypropylene, polyethylene, and PET in packaging of takeout food and in medical equipment (N-95 masks), in Tyvek protective suits, and in medical face shields and plastic water bottles (single use) respectively have surged due to the pandemic. There has also been an increase in hazardous waste from healthcare facilities, and plastic waste and municipal solid waste from households, with restaurants only offering take-out food and customers hoarding bottled water and groceries, and medical centers increasingly using personal protective equipment. The scenario is estimated to result in generation of staggering amount of plastic waste. For instance, hospitals across Wuhan generated over 240 tons of the waste per day during the peak of COVID-19, which is notably higher than 40 tons per day during normal times. In addition, the US is estimated to produce a year's worth of the medical waste within two months. The situation is further compounded by exponential surge in production and disposal of masks and PPE along with increasing surge in home delivery of food.

Illegal plastic waste disposal has risen by 280% worldwide during the pandemic. While various countries have banned single-use plastic and implemented taxes for curbing consumption, COVID-19 is threatening to stall or even reverse the process. Disruption in waste collections, labor shortages amid social distancing challenges & lower focus on environment have impacted the recycling business. While the pandemic has raised consumption of plastic products, recycling rates have not grown in tandem with the increase in demand. On the contrary, some programs have witnessed decline in collection rates, compared to pre-COVID-19 collection rates. In addition, many recyclers are not operating at full capacity due to social distancing norms, thereby affecting the plastic recycling activities. European countries, which boast of some of the most developed recycling programs in the world, have been witnessing reduction in collection of consumer generated plastic waste. For instance, plastic collection at deposit return scheme centers in Germany have been falling even though consumer purchases of plastic packaged products has increased. In addition, uncertainties over cross order movement within the European Union affected the plastic recycling industry. Germany imports large quantities of plastic waste from countries such as France, Italy and the Netherlands; and also exports substantial amounts of recycled plastic to other countries within the European Union. The uncertainties over cross border movement affected both imports and exports, affecting the supply chain.

Majority of the recycling programs around the world are run by regional or local municipal authorities. As the COVID-19 pandemic has disrupted economic activity across the world, funding for recycling programs could be a low priority for municipal authorities as they grapple with lower revenues and cash conservation takes precedence over capital expenditures. The economic recession in 2008 and 2009 resulted in municipal authorities curtailing capital expenditures, and reached the pre-crisis levels after many years. Similarly, the current economic situation is also leading to lower spending on plastic recycling infrastructure, leading to slower growth of the market in future. European countries are better positioned as government mandates for increasing recycling rates by 2025 provide the necessary legislative inducement to propel investment in infrastructure. Moreover, disruptions in waste management services and increasing volumes of waste ending in landfills across countries is expected to deteriorate the situation. The scenario calls for proactive efforts by governments along with participants across the plastic value chain to reduce plastic waste. These endeavors are expected to support various sustainable development objectives intended to reduce waste generation through suitable approaches along with improper disposal of plastic waste.

Select Competitors (Total 84 Featured):
  • B & B Plastics Recycling, Inc
  • B. Schoenberg & Co., Inc
  • Carbonlite, Inc.
  • Clear Path Recycling, LLC
  • Custom Polymers, Inc.
  • Envisison Plastics
  • Green Line Polymers®
  • Green-O-Tech India
  • Jayplas
  • Kuusakoski Oy
  • KW Plastics
  • Maine Plastics, Inc.
  • 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.

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.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • B. Schoenberg & Co. Inc
  • Custom Polymers, Inc.
  • Green-O-Tech India
  • KW Plastics
  • NAM Polymers Inc
  • Plasgran Ltd.
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 and a Looming Global Recession
  • COVID-19 Causes Significant Disruption to Plastic Recycling
  • 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
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
  • Exhibit 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Plastic Recycling: An Introduction
  • Methods to Recycle Plastics
  • Plastic Recycling by Type
  • Global Market Prospects & Outlook
  • Concerns about 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
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Rising Importance of Plastics in Modern World & Increase in Plastic Production Volumes Contribute to Plastic Waste, Drives Need for Recycling
  • Exhibit 2: Global Plastics Production Output in Million Tons for the Years 2009 through 2020
  • Exhibit 3: Global Plastics Production by Region/Country (in %): 2019
  • Exhibit 4: Global Plastics Usage by Sector (in %): 2020E
  • Exhibit 5: 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
  • Exhibit 6: Top Plastic Polluting Countries by Plastic Waste Production (in Million Tons): 2020E
  • Exhibit 7: Global Percentage Breakdown of Plastic Waste Generation by End-Use Sector: 2019
  • 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
  • Exhibit 8: Global Share of Countries with Regulations Restricting the Usage of Single-Use Items: 2018
  • Exhibit 9: Share of Single-Use Plastic Items Banned by Regulations: 2018
  • As Packaging Industry Emerges as the Largest Producer of Plastic Waste, Recycling Becomes an IneviTable Option
  • Exhibit 10: Recycled Packaging Market by Material (in %): 2020E
  • Exhibit 11: 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
  • Exhibit 12: Global Packaged Beverages Market by Material Type: Percentage Share Breakdown by Beverage Volume (2020E)
  • Automotive Industry: A Major Market for Recycled Plastics Faces Challenging Times Amidst the COVID-19 Pandemic
  • Exhibit 13: Reduction in Automotive Demand in 2020 (In Million Vehicles)
  • Exhibit 14: 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
  • Exhibit 15: 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
  • Exhibit 16: China’s Ban on Plastic Waste Imports Affects Developed Countries: US Exports of Plastic Waste by Country for H1 2017 Vs H1 2018
  • Exhibit 17: Top Exporters of Plastic Waste Globally: Export of Plastic Waste and Scrap in Thousand Tonnes 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
  • Exhibit 18: Global Crude Oil Prices (in US$ Per Barrel and % Change) for the Period Jan 2019 to Jul 2020
  • Complications of Recycling Plastic: A Brief Review
  • Difficulties in Raw Material Collection Affects Plastics Recycling Market
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • COVID-19 Outbreak Hampers Plastics Recycling Initiatives in the US
  • Labor Shortages on the Rise
  • Supply of Recycled Plastics Impacted
  • Demand for Bottled Beverages to be Dull, Supply of Recycled PET to be Hit
  • Increasing Focus on Employing Sustainable Technologies Fuel Growth in Plastic Recycling Market
  • Exhibit 19: Plastic Recycling Remains a Small Market: Breakdown of Plastic Waste in the US Municipal Waste Disposal by Method (in %): 2019
  • Exhibit 20: Waste Recycled by Americans: % of Waste Recycled by Material in the US for 2019
  • China’s Ban on Import of Plastic Waste Severely Impacts US Plastics Industry
  • CANADA
  • JAPAN
  • CHINA
  • Market Overview
  • EUROPE
  • COVID-19 Brings About Changes in Consumer Behavior, Impacts Recycling
  • Exhibit 21: Recycling Rates of Packaging by Material in Europe: 2020E
  • Exhibit 22: Recyclability of Single-Use Packaging in the UK: Share of Recyclability of Own Brand Plastic Packaging by Supermarket (2019)
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • India Poised to Benefit from High Plastic Recycling Rates
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 84
Note: Product cover images may vary from those shown
  • B & B Plastics Recycling, Inc
  • B. Schoenberg & Co. Inc
  • Carbonlite, Inc.
  • Clear Path Recycling, LLC
  • Custom Polymers, Inc.
  • Envisison Plastics
  • Green Line Polymers®
  • Green-O-Tech India
  • Jayplas
  • Kuusakoski Oy
  • KW Plastics
  • Maine Plastics, Inc.
  • 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.
Note: Product cover images may vary from those shown
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