Increased concern about plastic pollution, enhancement of the recycling process, and increased demand for plastics are propelling the recyclable plastics market growth.
Market Size - USD 42.08 Billion in 2019, Market Growth - CAGR of 5.5%, Market Trends -Expansion of the packaging industry
The Global Recyclable Plastics Market is forecast to reach USD 65.06 Billion by 2027, according to our latest report. The awareness about the adverse impact of plastic pollution on environmental stability is on the rise. The rise in awareness about its harmful effect has been the result of experiencing real-life complications associated with plastic pollution and government initiatives in support of the same. Such increased awareness about plastic pollution has acted as a significant driver for the growth of the market. Additionally, a surge in research activities to enhance recycling technologies and the increase in social enterprises dealing with the issue of plastic pollution like UrbanR Recycle+ positively impact the growth of the sector.
There has been a rise in demand for plastic in various regions, China being one of the leading nations. However, in these regions, the need for plastics is comparatively higher than the plastic raw materials required to accommodate the demand from these countries. Such disparity between increased demand and a low supply of plastic raw materials bolsters the growth of the sector. The progress of this sector is reflected in the fact that till 2015, only 0.5 Billion tons, which is only 6% of the total plastic produced, was recycled. However, within only three years, i.e., by 2018, 1.3 Billion tons of plastic were recycled.
Regionally, Asia Pacific can be seen leading the market. In this region, continuous development in the manufacturing sector, the increased availability of labor, and the shortage of plastic raw materials have contributed to its market dominance.
Further key findings from the report suggest
For the purpose of this report, Reports and Data has segmented the Global Recyclable Plastics Market according to type, source, recycling process, end-use industry, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Source Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Recycling Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
End-Use Industry Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Reasons to Buy the Report
Market Size - USD 42.08 Billion in 2019, Market Growth - CAGR of 5.5%, Market Trends -Expansion of the packaging industry
The Global Recyclable Plastics Market is forecast to reach USD 65.06 Billion by 2027, according to our latest report. The awareness about the adverse impact of plastic pollution on environmental stability is on the rise. The rise in awareness about its harmful effect has been the result of experiencing real-life complications associated with plastic pollution and government initiatives in support of the same. Such increased awareness about plastic pollution has acted as a significant driver for the growth of the market. Additionally, a surge in research activities to enhance recycling technologies and the increase in social enterprises dealing with the issue of plastic pollution like UrbanR Recycle+ positively impact the growth of the sector.
There has been a rise in demand for plastic in various regions, China being one of the leading nations. However, in these regions, the need for plastics is comparatively higher than the plastic raw materials required to accommodate the demand from these countries. Such disparity between increased demand and a low supply of plastic raw materials bolsters the growth of the sector. The progress of this sector is reflected in the fact that till 2015, only 0.5 Billion tons, which is only 6% of the total plastic produced, was recycled. However, within only three years, i.e., by 2018, 1.3 Billion tons of plastic were recycled.
Regionally, Asia Pacific can be seen leading the market. In this region, continuous development in the manufacturing sector, the increased availability of labor, and the shortage of plastic raw materials have contributed to its market dominance.
Further key findings from the report suggest
- The recyclable plastics market held a market share of USD 42.08 Billion in the year 2019, projected to grow at a rate of 5.5% during the forecast period.
- Based on Type, Polyethylene Terephthalate (PET) segment generated the highest revenue of about USD 14.30 Billion in 2019, with an estimated CAGR of 6.5% over the forecast period. The growth of this segment has been the result of the fact that PET is wholly recyclable and has a low recycling cost as compared to other types of plastic.
- Based on source of production of recyclable plastics, the Bottles segment generated the highest revenue of around USD 26.43 Billion in the year 2019 with a considerable growth rate of 6.2% during the forecast period. The revenue generated by this segment has been the result of the presence of well-regulated and established collection infrastructure and deposit laws in specific nations.
- Based on recycling processes, the Mechanical Recycling segment is seen to lead the market and generated a significant revenue of USD 27.11 Billion in 2019, expected to deliver a growth rate of 5.6% during the forecast period. The fact that this type of recycling process is effective in recycling products without much hassle and it is simple in terms of its operation has resulted in its high rate of incorporation for recycling household plastic waste, which has contributed to the revenue generated by it.
- Based on end-use industry, the Packaging segment generated the highest revenue of USD 15.93 Billion in 2019, with a growth rate of 6.1% during the forecast period. The revenue generated by this segment has been the result of the rise in consumption of packaged food and the expansion of the food and beverage sector.
- In the end-use industry, the Automotive segment is projected to witness the highest growth rate of 7.7% during the forecast period. The key factor contributing to the growth rate of this segment is a rise in the consumption of recycled plastics in the manufacturing units of leading automotive companies like Nissan, General Motors, Chrysler, and Ford, among others. The focus on corporate social responsibility by these companies has also contributed to the growth rate of this segment.
- Based on region, Asia Pacific is projected to yield the highest revenue of USD 14.26 Billion in 2019, with a growth rate of 6.2% during the forecast period. The revenue generated by this region has resulted from continuous development in the manufacturing sector, an increase in demand among consumers, a shortage of plastic raw materials, and the easy availability of labor.
- Key participants include Avangard Innovative, B. Schoenberg & Co., Inc., Delta Plastics, UltrePET LLC, CarbonLITE Industries, Veolia, Suez Recycling & Recovery Holdings, KW Plastics, Clear Path Recycling, and Jayplas.
For the purpose of this report, Reports and Data has segmented the Global Recyclable Plastics Market according to type, source, recycling process, end-use industry, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Others
Source Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Films
- Bottles
- Foams
- Fibers
- Others
Recycling Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Chemical recycling
- Mechanical recycling
End-Use Industry Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Building & Construction
- Packaging
- Automotive
- Electrical & Electronics
- Textiles
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Europe
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Recyclable Plastics Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Recyclable Plastics market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Recyclable plastics Market Segmentation & Impact Analysis
Chapter 5. Recyclable plastics Market By Type Insights & Trends
Chapter 6. Recyclable plastics Market By Source Insights & Trends
Chapter 7. Recyclable plastics Market By Recycling processes Insights & Trends
Chapter 8. Recyclable plastics Market By End-Use Industry Insights & Trends
Chapter 9. Recyclable plastics Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
- Avangard Innovative
- B. Schoenberg & Co. Inc. Delta Plastics
- UltrePET LLC
- CarbonLITE Industries
- Veolia
- Suez Recycling & Recovery Holdings
- KW Plastics
- Clear Path Recycling
- Jayplas
