What Is The Size Of Global Recycled Plastic Industry?
Global Recycled Plastic market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Recycled Plastic Market is largely driven by the growing acceptance of recycled plastics in the textile industry and the shift of the packaging industry from virgin plastics to recyclable materials.
Increasing demand for recycled plastic products from the packaging industry is expected to boost the growth of the recycled plastic market worldwide. Eco-friendly packaging products are becoming more popular as most of the key players in the market are opting for sustainable packaging designs. The most common type of plastic used in the packaging of food products is PET, which is known for showing the highest recycling rate.
Growing usage of recycled plastics in the textile industry is one of the factors driving the growth of the market in developing countries. Recycles PET (rPET) is the most widely recycled resin in fiber applications. The clothes made of recycled plastics not only provide high quality and texture but also, help in contributing to a sustainable environment.
Furthermore, the preference for virgin plastics over recycled alternatives acts as a restraint in the growth of the market. Virgin plastics have a significant advantage in terms of quality due to which these are highly preferred in applications requiring specific compositions of chemicals and additives, which is expected to hamper the market growth.
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Global Recycled Plastic Market By Product Type
The Global Recycled Plastic market is segmented by Product Type into Polyethylene (PE), Polyethylene, Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and Others.
Polyethylene Terephthalate (PET) segment held the largest market share in the global recycled plastics market in 2022, owing to its large-scale usage for food packaging and bottling application.
Polyethylene Terephthalate (PET) is the only plastic resin used in the packaging of almost all types of beverages. According to Petcore-Europe, an organization working on recycling PET bottles in Europe, Polyethylene Terephthalate (PET) is used to package 70% of carbonated soft drinks, fruit juices, dilutable drinks, and bottled water.
Global Recycled Plastic Market By Source
The Global Recycled Plastic Market is segmented by Source into Plastic Bottles, Plastic Films, Polymer Foam and Others.
Plastic Bottles segment held the largest market share in the global recycled plastics market in 2022, as bottles are the most recycled post-consumer plastics and have a better network for collection and sorting.
Many developing countries are entering into the recycling business and will depend on bottles as a source of recycled plastics due to their easy availability.
According to the United States Envir. According to the United States Environmental Protection Agency (USEPA), a U.S. Government body responsible for the development and enforcement of environmental regulations, in 2018, 910,000 tons of PET bottles and jars were recycled in the U.S.
Global Recycled Plastic Market By End-User
The Global Recycled Plastic market is segmented by End-User into Building & Construction, Packaging, Electrical & Electronics, Textiles, Automotive and Others.
The packaging segment held the largest market share in the global recycled plastics market in 2022, due to the high demand for recycled PET for manufacturing bottles and other packaging products such as films and wraps.
Construction segment is expected to grow with the highest CAGR during the forecast period as there is a huge demand for recycled polymers in the production of various building materials such as wall panels, flooring, pipes & fittings, and others.
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Key Topics Covered in the Report
- Snapshot of Global Recycled Plastics Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Recycled Plastics Market
- Historic Growth of Overall Global Recycled Plastics Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Recycled Plastics Industry
- Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
- Covid-19 Impact on the Overall Global Recycled Plastics Market
- Future Market Forecast and Growth Rates of the Total Global Recycled Plastics Market and Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Recycled Plastics Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Leading Companies Mentioned in the Report
- B. Schoenberg & Co.
- Covetsro AG
- B&B Plastics
- Green Line Polymers
- KW Plastics
- Republic Services
- Ultra Poly Corporation
- Shell International B.V.
- Custom Polymers
- Plastipak Holdings
Notable Emerging Companies Mentioned in the Report
- PureCycle Technologies
- UBQ Materials
- Plastic Energy
- Loop Industries
- Banyan Nation
- The Shakti Plastic Industries
- IntegriCo Composites
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Plastics Manufacturers
- Recycled Plastics Manufacturers
- Polyethylene Plastic Product Type Suppliers
- Polyethylene Terephthalate Plastic Product Type Suppliers
- Polypropylene Plastic Product Type Suppliers
- Polyvinyl Chloride Plastic Product Type Suppliers
- Polystyrene Plastic Product Type Suppliers
- Recycled Plastic Bottles Manufacturers
- Recycled Plastic Films Manufacturers
- Recycled Plastic Foam Manufacturers
- Recycled Plastics Distributors
- Emerging and Startup Recycled Plastics Companies in the Market
- Different Types of Recycled Plastics Institutes
- Government Departments of Polymers
- Ministries and Departments of Electrical & Electronics
- Ministries and Departments of Construction Materials
- Ministries and Departments of Chemicals
- Ministries and Departments of Petrochemicals
- Importers and Distributors of Recycled Plastics
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
For more insights on market intelligence, refer to the link below: –
Global Recycled Plastic market: Ken Research