In the ever-growing and evolving plastics industry, sustainability has emerged as a paramount concern. The relevance of the Global Plastic Recycling Market report lies in its comprehensive analysis of this burgeoning sector, offering critical insights for those keen on making informed, forward-looking decisions.
The report underscores the progressive growth of global demand for plastic recycling, catalyzed by significant applications in sectors such as packaging, automotive, and construction. Widespread recognition of plastics’ lightweight, durable, and cost-efficient properties has heightened demand, and consequently environmental concerns. Accordingly, awareness around energy savings and the reduction of carbon footprint is intensifying the call for plastic recycling.
The application of recycled plastics across diverse industries is set to surge, thanks to the benefits of lower energy consumption. Government regulations on single-use plastics and investments in new recycling technologies are poised to further elevate demand.
The report also highlights Asia-Pacific and North America as the leading players in the global plastic recycling market due to robust regulations promoting recycled plastics and the burgeoning requirement for packed food. Together, they shape a compelling forecast of steady growth in the global plastic recycling market.
H1 2023: The leading players in the Plastic Recycling market on a global scale were Masotina S.p.A, I.blu - Gruppo iren, and Montello S.p.A. In March 2023, PureCycle Technologies and Mitsui & Co. Ltd. announced the signing of a heads of agreement (HOA) for the development and operation of a polypropylene (PP) recycling plant in Japan. This plant will convert PP waste into ultra-pure recycled (UPR) resin, with an annual capacity of 59 thousand tonnes (130 million pounds) with the expected year of completion and operation is 2026. In April 2023, Fost Plus signed a deal with Morssinkhof Plastics Belgium to construct a new plastic recycling facility. The plant will convert polypropylene, polyethylene, and HDPE packaging waste into raw materials for further packaging purposes. The plant will have an annual recycling capacity of 40 thousand tonnes. Fost Plus intends to supply the plant with 24 thousand tonnes of PMD garbage gathered from Belgian residences. Its manufacturing capabilities are reported to include polypropylene solutions such as ready-meal trays, yogurt cups, and butter dishes, as well as HDPE bottles for milk, shampoo and conditioner, detergent, and shower gel. The plant will be operational in October 2024 and will recycle polypropylene (PP) packaging (such as butter tubs and ready-meal trays) as well as polyethylene packaging (such as shampoo and milk packaging). In May 2023, TotalEnergies announced the acquisition of Iber Resinas of Spain, a popular name in the mechanical recycling of plastics. TotalEnergies aimed to grow its production of circular polymers in Europe, improve its access to feedstock through Iber Resinas' supplier network, and expand its portfolio of recycled goods as a result of this acquisition.
Global Demand of Recycle Plastics is Projected to Grow at a Healthy CAGR Due to Its Application in Packaging, Automotive, Building & Construction, Electrical and Electronics Etc.
The global Plastic Recycling market had reached approximately 55 million tonnes in 2022 and is expected to grow at an impressive CAGR of 5.57% during the forecast period till 2030. The demand for recycled plastics market is projected to grow at a healthy CAGR globally as it finds application in packaging, automotive, building & construction, electrical and electronics industry, among others. Increasing usage of plastics due to their lightweight nature, durability, and other favorable properties led to high demand for plastics thereby adversely affecting the environment. Growing awareness about the benefits of energy-saving and the growing need to reduce the carbon footprint is likely to play a positive role to increase the demand for the global Plastic Recycling market.
Factors such as growing applications of recycled plastics in packaging, electrical & electronics, textile, building& construction, automotive, and other industries in addition to the advantages of using recycled plastics aids in lower energy consumption are likely to fuel the demand for Plastic Recycling in the upcoming years. Increasing government regulation and policies regarding the use of single-use plastics in various countries as well as the surge in investment to develop new technology resulting in higher energy efficiency is expected to foster the market demand. The global Plastic Recycling market is anticipated to reach a number of approximately 84.3 million tonnes in the forecast period of 2030.
Asia pacific region is the largest generator and recycler of plastic waste. This region held about 50 percent of the global Plastic Recycling market in 2022 and are expected to maintain their dominance during the forecast period as well. The introduction of several regulations to promote the use of recycled plastic and the rise in demand for packed and packaged food are the contributing factors expected to strengthen the market growth in the forecast period.
Based on type, the global plastic can be recycled into Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others. Although, Polyethylene (PE) is dominating the global Plastic Recycling market. Plastics can be recycled by using methods such as landfill, thermal, mechanical, and chemical methods.
Based on the end-user industry, the global Plastic Recycling market is segmented into Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others. Due to wide usage in industries like food & beverage, pharmaceutical, and general-use goods, the Packaging industry is dominating the Plastic Recycling market. In 2022, this industry consumed approximately 40% of the market. Furthermore, Building and Construction industry also holds noticeable market shares.
Major players for Plastic Recycling globally include Masotina S.p.A, I.blu - Gruppo iren, Montello S.p.A., The Alba Group., GT Recycling, STF Group, Jayplas., Indorama Ventures Sustainable Solutions LLC, Viridor Polymer Recycling Limited, NPP Polyplastic, Hubert Eing Kunststoffverwertung GmbH, Monoworld Recycling Ltd., Metro Plastic, Clean Tech U.K. Ltd, OOO Fantastik Plastik, and Others.
Years considered for this report:
- Historical Period: 2015- 2022
- Base Year: 2022
- Estimated Year: 2023
- Forecast Period: 2024-2030
Objective of the Study:
- To assess the demand-supply scenario of Plastic Recycling which covers production, demand and supply of Plastic Recycling market in the globe.
- To analyse and forecast the market size of Plastic Recycling
- To classify and forecast Global Plastic Recycling market based on end-use and regional distribution.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., of Plastic Recycling market in the globe.
The publisher calculated Plastic Recycling demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of raw material to produce Plastic Recycling. The publisher sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by the publisher.
Key Target Audience:
- Plastic Recycling manufacturers and other stakeholders
- Organizations, forums and alliances related to Plastic Recycling distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
Report Scope:In this report, Global Plastic Recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market size Volume in 2022 - 55 million tonnes
- Market size Volume by 2030 - 84.3 million tonnes
- Growth Rate - CAGR of 5.57% from 2023 to 2030
- Base year for estimation - 2023
- Historic Data - 2015 - 2022
- Forecast period - 2024 - 2030
- Quantitative units - Demand in million tonnes and CAGR from 2023 to 2030
Report coverageIndustry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap.
- By End-Use: (Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others)
- By Sales Channel: (Direct Sale and Indirect Sale)
Regional scopeNorth America, Europe, Asia Pacific, Middle East and Africa, and South America.
Available CustomisationsWith the given market data, the publisher offers customizations according to a company’s specific needs.
Table of Contents
- It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Plastic Recycling market in terms of value and volume.
- On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Plastic Recycling.
- To better understand the regional supply of Plastic Recycling by analyzing its manufacturers' location-based capacity.
- To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
- Study the historical annual production of Plastic Recycling by the leading players and forecast how it will grow in the coming years.
- Learn about the various types: Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others, and their demands. It will allow you to choose which type to concentrate on when designing your strategy.
- Discover which end-user industry (Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others) are creating a market and the forecast for the growth of the Plastic Recycling market.
- Analyzing the change in demand of Plastic Recycling in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
- Multiple channels are used to sell Plastic Recycling. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
- Determine the supply-demand gap to gain information about the trade surplus or deficiency of Plastic Recycling.
- Figure out what proportion of the market share of Plastic Recycling is currently held by leading players across the globe.
- Discover insights into the intricate manufacturing process of Plastic Recyling.
- Analyze historical prices since 2015 & Forecast on three months rolling period for next 12 months.