The recycled plastics market is projected to reach US$ 4001.37 million by 2028 from US$ 2682.21 million in 2022; it is expected to grow at a CAGR of 6.9% from 2022 to 2028.
The demand for recycled plastics from the automotive sector is boosting the growth of the recycled plastics market. Increasing plastic waste in the environment developed the focus of manufacturers to shift in the production of recycled plastics, which are highly used in various industries. An increase in automotive production will create lucrative opportunities for recycled plastics. The primary reason for using recycled plastic in the automotive industry is to reduce vehicle mass, which is directly linked to reducing carbon emissions. In addition, these plastic parts are not prone to corrosion, offer flexibility and resilience for added safety, and provide thermal insulation. All these factors support the demand for recycled plastics in the automotive industry.
As per the data of Organisation Internationale des Constructeurs d'Automobiles (OICA), the American countries recorded over ~16.2 million commercial & passenger car production in 2010, and this production rate grew by more than 23% and registered over ~20 million commercial & passenger production in 2019. The automotive industry in China has been growing rapidly, and the country is playing an increasingly important role in the global vehicles market. Further, as per the report of OICA, the automotive industry witnessed growth of over ~5% in 2021 compared to 2020. Moreover, numerous companies operating in the automotive market are investing heavily in the automobile manufacturing sector to increase production and sales. For instance, in July 2021, Maruti Suzuki India Ltd. announced an investment worth US$ 2.42 billion in a new manufacturing facility in Haryana, India. The facility is expected to manufacture ~1 million units annually. The surge in automobile manufacturing is boosting the demand for recycled plastics, thereby driving the recycled plastics market.
In 2020, Asia Pacific held the largest revenue share of the recycled plastics market. The major factor driving the recycled plastics market growth in this region is the high demand for recycled plastics from manufacturing, automotive, packaging, textile, building and construction, and consumer goods. Strong automotive and food & beverages industries in Japan, South Korea, China, and India create a huge demand for recycled plastics. These recycled plastics are widely used to manufacture sustainable food packaging’s such as bottles, containers, and films. Further, increasing purchasing power, especially in developing economies, propels the consumption of packaged food. Moreover, the massive demand for recycled plastic in the automotive industry will create lucrative opportunities for the market in Asia Pacific.
REMONDIS SE & CO.KG; Biffa; Stericycle, Inc.; Veolia; Jayplas; Alpek S.A.B.de C.V.; Republic Services, Inc.; B & B Plastics Inc.; Clear Path Recycling; and PLASTIPAK HOLDINGS, INC. are a few of the major players operating in the recycled plastics market. Key companies in this market are focusing on strategies such as R&D investments and new product launches. They develop high-quality and innovative products to fulfill the customers’ requirements.The overall 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 recycled plastics market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the recycled plastics market.
The demand for recycled plastics from the automotive sector is boosting the growth of the recycled plastics market. Increasing plastic waste in the environment developed the focus of manufacturers to shift in the production of recycled plastics, which are highly used in various industries. An increase in automotive production will create lucrative opportunities for recycled plastics. The primary reason for using recycled plastic in the automotive industry is to reduce vehicle mass, which is directly linked to reducing carbon emissions. In addition, these plastic parts are not prone to corrosion, offer flexibility and resilience for added safety, and provide thermal insulation. All these factors support the demand for recycled plastics in the automotive industry.
As per the data of Organisation Internationale des Constructeurs d'Automobiles (OICA), the American countries recorded over ~16.2 million commercial & passenger car production in 2010, and this production rate grew by more than 23% and registered over ~20 million commercial & passenger production in 2019. The automotive industry in China has been growing rapidly, and the country is playing an increasingly important role in the global vehicles market. Further, as per the report of OICA, the automotive industry witnessed growth of over ~5% in 2021 compared to 2020. Moreover, numerous companies operating in the automotive market are investing heavily in the automobile manufacturing sector to increase production and sales. For instance, in July 2021, Maruti Suzuki India Ltd. announced an investment worth US$ 2.42 billion in a new manufacturing facility in Haryana, India. The facility is expected to manufacture ~1 million units annually. The surge in automobile manufacturing is boosting the demand for recycled plastics, thereby driving the recycled plastics market.
In 2020, Asia Pacific held the largest revenue share of the recycled plastics market. The major factor driving the recycled plastics market growth in this region is the high demand for recycled plastics from manufacturing, automotive, packaging, textile, building and construction, and consumer goods. Strong automotive and food & beverages industries in Japan, South Korea, China, and India create a huge demand for recycled plastics. These recycled plastics are widely used to manufacture sustainable food packaging’s such as bottles, containers, and films. Further, increasing purchasing power, especially in developing economies, propels the consumption of packaged food. Moreover, the massive demand for recycled plastic in the automotive industry will create lucrative opportunities for the market in Asia Pacific.
REMONDIS SE & CO.KG; Biffa; Stericycle, Inc.; Veolia; Jayplas; Alpek S.A.B.de C.V.; Republic Services, Inc.; B & B Plastics Inc.; Clear Path Recycling; and PLASTIPAK HOLDINGS, INC. are a few of the major players operating in the recycled plastics market. Key companies in this market are focusing on strategies such as R&D investments and new product launches. They develop high-quality and innovative products to fulfill the customers’ requirements.The overall 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 recycled plastics market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the recycled plastics market.
Table of Contents
1. Introduction1.1 Research Report Guidance
1.2 Market Segmentation
1.2.1 Recycled Plastics Market, by Type
1.2.2 Recycled Plastics Market, by Source
1.2.3 Recycled Plastics Market, by Application
1.2.4 Recycled Plastics Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.1.1 Recycled Plastics Market, by Type, Source, and Application
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Recycled Plastics Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Suppliers:
4.2.3 Bargaining Power of Buyers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Recycled Plastics Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Adoption of Recycled Plastics in Packaging, Automotive, and Electrical & Electronic Industries
5.1.2 Rising Expansion Of Construction Industry
5.2 Market Restraints
5.2.1 Inadequate Supply of Recycled Plastics Leads to Preference for Virgin Plastic
5.3 Market Opportunities
5.3.1 Rising Stringent Government Regulations to Upsurge the Recycling Rate of Plastics
5.4 Future Trends
5.4.1 Rising Innovation in Plastic Recycling
5.5 Impact Analysis of Drivers and Restraints
6. Recycled Plastics - Global Market Analysis
6.1 Recycled Plastics Market Overview
6.2 Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
6.3 Competitive Positioning - Key Market Players
7. Recycled Plastics Market Analysis - By Type
7.1 Overview
7.2 Recycled Plastics Market, By Type (2020 and 2028)
7.3 Polyethylene Terephthalate
7.3.1 Overview
7.3.2 Polyethylene Terephthalate: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
7.4 Polyethylene
7.4.1 Overview
7.4.2 Polyethylene: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
7.5 Polypropylene
7.5.1 Overview
7.5.2 Polypropylene: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
7.6 Polystyrene
7.6.1 Overview
7.6.2 Polypropylene: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
7.7 Others
7.7.1 Overview
7.7.2 Polypropylene: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
8. Recycled Plastics Market Analysis - By Source
8.1 Overview
8.2 Recycled Plastics Market, By Source (2020 and 2028)
8.3 Plastic Bottles
8.3.1 Overview
8.3.2 Plastic Bottles: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Plastic Films
8.4.1 Overview
8.4.2 Plastic Films: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Plastic Foams
8.5.1 Overview
8.5.2 Plastic Foams: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Plastic Fibers
8.6.1 Overview
8.6.2 Plastic Fibers: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
8.7 Others
8.7.1 Overview
8.7.2 Others: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
9. Recycled Plastics Market Analysis - By Application
9.1 Overview
9.2 Recycled Plastics Market, By Application (2020 and 2028)
9.3 Packaging
9.3.1 Overview
9.3.2 Packaging : Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
9.4 Textile
9.4.1 Overview
9.4.2 Textile: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
9.5 Automotive
9.5.1 Overview
9.5.2 Automotive: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
9.6 Building and Construction
9.6.1 Overview
9.6.2 Building and Construction: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
9.7 Electrical and Electronics
9.7.1 Overview
9.7.2 Electrical and Electronics: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
9.8 Others
9.8.1 Overview
9.8.2 Others: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Mn)
10. Recycled Plastics Market - Geographic Analysis
10.1 Overview
10.2 North America: Recycled Plastics Market
10.2.1 North America: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.2.2 North America: Recycled Plastics Market, by Type
10.2.3 North America: Recycled Plastics Market, by Source
10.2.4 North America: Recycled Plastics Market, by Application
10.2.5 North America: Recycled Plastics Market, by Key Country
10.2.5.1 US: Recycled Plastics Market- Analysis and Forecast to 2028 (US$ Million) (Tons)
10.2.5.1.1 US: Recycled Plastics Market, by Type
10.2.5.1.2 US: Recycled Plastics Market, by Source
10.2.5.1.3 US: Recycled Plastics Market, by Application
10.2.5.2 Canada: Recycled Plastics Market- Analysis and Forecast to 2028 (US$ Million) (Tons)
10.2.5.2.1 Canada: Recycled Plastics Market, by Type
10.2.5.2.2 Canada: Recycled Plastics Market, by Source
10.2.5.2.3 Canada: Recycled Plastics Market, by Application
10.2.5.3 Mexico: Recycled Plastics Market- Revenue and Forecast to 2028 (US$ Million) (Tons)
10.2.5.3.1 Mexico: Recycled Plastics Market, by Type
10.2.5.3.2 Mexico: Recycled Plastics Market, by Source
10.2.5.3.3 Mexico: Recycled Plastics Market, by Application
10.3 Europe: Recycled Plastics Market
10.3.1 Europe: Recycled Plastics Market - Analysis and Forecast to 2028 (USD Mn)
10.3.2 Europe: Recycled Plastics Market, by Type
10.3.3 Europe: Recycled Plastics Market, by Source
10.3.4 Europe: Recycled Plastics Market, by Application
10.3.5 Europe: Recycled Plastics Market, by Key Country
10.3.5.1 Germany: Recycled Plastics Market - Analysis and Forecast to 2028 (USD Mn)
10.3.5.1.1 Germany: Recycled Plastics Market, by Type
10.3.5.1.2 Germany: Recycled Plastics Market, by Source
10.3.5.1.3 Germany: Recycled Plastics Market, by Application
10.3.5.2 France: Recycled Plastics Market - Analysis and Forecast to 2028 (USD Mn)
10.3.5.2.1 France: Recycled Plastics Market, by Type
10.3.5.2.2 France: Recycled Plastics Market, by Source
10.3.5.2.3 France: Recycled Plastics Market, by Application
10.3.5.3 UK: Recycled Plastics Market - Analysis and Forecast to 2028 (USD Mn)
10.3.5.3.1 UK: Recycled Plastics Market, by Type
10.3.5.3.2 UK: Recycled Plastics Market, by Source
10.3.5.3.3 UK: Recycled Plastics Market, by Application
10.3.5.4 Italy: Recycled Plastics Market - Analysis and Forecast to 2028 (USD Mn)
10.3.5.4.1 Italy: Recycled Plastics Market, by Type
10.3.5.4.2 Italy: Recycled Plastics Market, by Source
10.3.5.4.3 Italy: Recycled Plastics Market, by Application
10.3.5.5 Russia: Recycled Plastics Market - Analysis and Forecast to 2028 (USD Mn)
10.3.5.5.1 Russia: Recycled Plastics Market, by Type
10.3.5.5.2 Russia: Recycled Plastics Market, by Source
10.3.5.5.3 Russia: Recycled Plastics Market, by Application
10.3.5.6 Rest of Europe: Recycled Plastics Market - Analysis and Forecast to 2028 (USD Mn)
10.3.5.6.1 Rest of Europe: Recycled Plastics Market, by Type
10.3.5.6.2 Rest of Europe: Recycled Plastics Market, by Source
10.3.5.6.3 Rest of Europe: Recycled Plastics Market, by Application
10.4 Asia-Pacific: Recycled Plastics Market
10.4.1 Asia- Pacific: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.2 Asia-Pacific: Recycled Plastics Market, By Type
10.4.3 Asia-Pacific: Recycled Plastics Market, by Source
10.4.4 Asia-Pacific: Recycled Plastics Market, by Application
10.4.5 Asia- Pacific: Recycled Plastics Market, by Key Country
10.4.5.1 Australia: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.1.1 Australia: Recycled Plastics Market, by Type
10.4.5.1.2 Australia: Recycled Plastics Market, by Source
10.4.5.1.3 Australia: Recycled Plastics Market, by Application
10.4.5.2 China: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.2.1 China: Recycled Plastics Market, by Type
10.4.5.2.2 China: Recycled Plastics Market, by Source
10.4.5.2.3 China: Recycled Plastics Market, by Application
10.4.5.3 India: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.3.1 India: Recycled Plastics Market, by Type
10.4.5.3.2 India: Recycled Plastics Market, by Source
10.4.5.3.3 India: Recycled Plastics Market, by Application
10.4.5.4 Japan: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.4.1 Japan: Recycled Plastics Market, by Type
10.4.5.4.2 Japan: Recycled Plastics Market, by Source
10.4.5.4.3 Japan: Recycled Plastics Market, by Application
10.4.5.5 South Korea: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.5.1 South Korea: Recycled Plastics Market, by Type
10.4.5.5.2 South Korea: Recycled Plastics Market, by Source
10.4.5.5.3 South Korea: Recycled Plastics Market, by Application
10.4.5.6 Rest of Asia-Pacific: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.4.5.6.1 Rest of Asia-Pacific: Recycled Plastics Market, by Type
10.4.5.6.2 Rest of Asia-Pacific: Recycled Plastics Market, by Source
10.4.5.6.3 Rest of Asia-Pacific: Recycled Plastics Market, by Application
10.5 Middle East and Africa: Recycled Plastics Market
10.5.1 Middle East and Africa: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.2 Middle East and Africa: Recycled Plastics Market, By Type
10.5.3 Middle East and Africa: Recycled Plastics Market, by Source
10.5.4 Middle East and Africa: Recycled Plastics Market, by Application
10.5.5 Middle East and Africa: Recycled Plastics Market, by Key Country
10.5.5.1 South Africa: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.1.1 South Africa: Recycled Plastics Market, by Type
10.5.5.1.2 South Africa: Recycled Plastics Market, by Source
10.5.5.1.3 South Africa: Recycled Plastics Market, by Application
10.5.5.2 Saudi Arabia: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.2.1 Saudi Arabia: Recycled Plastics Market, by Type
10.5.5.2.2 Saudi Arabia: Recycled Plastics Market, by Source
10.5.5.2.3 Saudi Arabia Recycled Plastics Market, by Application
10.5.5.3 UAE: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.3.1 UAE: Recycled Plastics Market, by Type
10.5.5.3.2 UAE: Recycled Plastics Market, by Source
10.5.5.3.3 UAE Recycled Plastics Market, by Application
10.5.5.4 Rest of the Middle East and Africa: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.5.5.4.1 Rest of the Middle East and Africa: Recycled Plastics Market, by Type
10.5.5.4.2 Rest of the Middle East and Africa: Recycled Plastics Market, by Source
10.5.5.4.3 Rest of the Middle East and Africa: Recycled Plastics Market, by Application
10.6 South and Central America: Recycled Plastics Market
10.6.1 South and Central America: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.2 South and Central America: Recycled Plastics Market, By Type
10.6.3 South and Central America: Recycled Plastics Market, by Source
10.6.4 South and Central America: Recycled Plastics Market, by Application
10.6.5 South and Central America: Recycled Plastics Market, by Key Country
10.6.5.1 Brazil: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.5.1.1 Brazil: Recycled Plastics Market, by Type
10.6.5.1.2 Brazil: Recycled Plastics Market, by Source
10.6.5.1.3 Brazil: Recycled Plastics Market, by Application
10.6.5.2 Argentina: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.5.2.1 Argentina: Recycled Plastics Market, by Type
10.6.5.2.2 Argentina: Recycled Plastics Market, by Source
10.6.5.2.3 Argentina: Recycled Plastics Market, by Application
10.6.5.3 Rest of South and Central America: Recycled Plastics Market - Revenue and Forecast to 2028 (US$ Million) (Tons)
10.6.5.3.1 Rest of South and Central America: Recycled Plastics Market, by Type
10.6.5.3.2 Rest of South and Central America: Recycled Plastics Market, by Source
10.6.5.3.3 Rest of South and Central America: Recycled Plastics Market, by Application
11. Impact of COVID-19
11.1 Overview - Impact of COVID-19
11.2 Impact of COVID-19 on Recycled Plastics Market
11.3 North America: Impact Assessment of COVID-19 Pandemic
11.4 Europe: Impact Assessment of COVID-19 Pandemic
11.5 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.6 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.7 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 REMONDIS SE & Co.KG
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Biffa
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Stericycle, Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Veolia
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Jayplas
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Alpek S.A.B. De C.V.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Republic Services, Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 B & B Plastics Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Clear Path Recycling
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 PLASTIPAK HOLDINGS, INC.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Glossary of Terms
\
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- REMONDIS SE & Co.KG
- Biffa
- Stericycle, Inc.
- Veolia
- Jayplas
- Alpek S.A.B. De C.V.
- Republic Services, Inc.
- B & B Plastics Inc.
- Clear Path Recycling
- PLASTIPAK HOLDINGS, INC.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | May 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( $ | $ 2682.21 million |
| Forecasted Market Value ( $ | $ 4001.37 million |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
