Dublin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The "Post-Consumer Recycled Plastics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Post-Consumer Recycled Plastics was estimated at US$17.8 Billion in 2023 and is projected to reach US$26.8 Billion by 2030, growing at a CAGR of 6.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growing awareness of the environmental impact of plastic waste, coupled with increasing regulatory pressure on manufacturers to adopt sustainable practices, is driving the demand for PCR plastics across industries. By incorporating post-consumer recycled plastics into their production processes, companies can reduce their carbon footprint, meet regulatory requirements, and appeal to environmentally conscious consumers. Additionally, the use of PCR plastics reduces the demand for virgin plastics, which are derived from fossil fuels, thereby conserving energy and resources.
Several factors are driving the growth of the post-consumer recycled plastics market, including increasing environmental awareness, regulatory mandates, advancements in recycling technologies, and growing consumer demand for sustainable products. One of the most significant growth drivers is the global movement toward reducing plastic waste and promoting the circular economy. As governments, corporations, and consumers become more aware of the environmental damage caused by plastic pollution, there is increasing pressure to reduce single-use plastics, improve recycling rates, and adopt sustainable materials. PCR plastics provide a solution to these challenges by offering a way to recycle and reuse plastic materials, reducing waste and conserving resources.
Regulatory initiatives and policies are also playing a crucial role in driving demand for post-consumer recycled plastics. Governments around the world are implementing stricter regulations to curb plastic waste and promote the use of recycled content in packaging and other products. For example, the European Union's Circular Economy Action Plan includes ambitious targets for increasing recycling rates and incorporating more recycled materials into products. Similarly, Extended Producer Responsibility (EPR) schemes are placing the responsibility on manufacturers to manage the end-of-life disposal of their products, incentivizing them to use more recycled materials. In regions like North America and Europe, the growing trend of banning or taxing single-use plastics is also encouraging the adoption of PCR plastics.
The growing demand from environmentally conscious consumers is another significant driver of the post-consumer recycled plastics market. Consumers are increasingly seeking out products and packaging made from sustainable materials, leading companies to adopt PCR plastics to meet these preferences. Brands across industries such as food and beverage, cosmetics, fashion, and electronics are marketing products made from recycled plastics as part of their sustainability commitments. The rise of eco-labeling and certification schemes, such as the Global Recycled Standard (GRS), is helping to boost consumer confidence in products made from post-consumer recycled materials.
Technological advancements in recycling processes, particularly in sorting, cleaning, and chemical recycling, are also contributing to the growth of the PCR plastics market. These advancements are making it possible to produce higher-quality recycled plastics that can be used in more demanding applications, including food packaging, automotive parts, and electronics. The development of closed-loop recycling systems is further supporting market growth by enabling continuous recycling of plastics without degrading material quality. Lastly, corporate sustainability commitments are driving the adoption of PCR plastics across industries.
Many companies are setting ambitious goals to reduce their environmental impact by incorporating more recycled materials into their products and packaging. For example, major beverage companies are committing to using 100% recycled PET in their bottles, while fashion brands are pledging to use recycled polyester in their clothing lines. These commitments are creating a significant demand for high-quality post-consumer recycled plastics.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Post-Consumer Recycled Plastics Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Post-Consumer Recycled Plastics Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Post-Consumer Recycled Plastics Market such as Alpha Packaging, Amcor, Berry Global Inc., Biffa, Clean Harbors and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Scope of the Study
- Type (LDPE, PP, HDPE, PVC, PUR, PET, Other Types); Processing Type (Mechanical, Chemical, Biological); Application (Packaging, Building & Construction, Automotive, Furniture, Electronics, Other Applications)
- World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 91 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $17.8 Billion |
| Forecasted Market Value (USD) by 2030 | $26.8 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Rising Consumer Awareness of Environmental Sustainability Spurs Demand for Post-Consumer Recycled Plastics in Packaging
- Increasing Regulatory Pressure on Plastic Waste Reduction Drives Adoption of Post-Consumer Recycled Plastics Across Industries
- Technological Advancements in Plastic Recycling Propel Growth in High-Quality, Recycled Plastic Materials for Manufacturing
- Surge in Demand for Recycled Plastics in the Packaging Industry Expands Market for Sustainable, Eco-Friendly Packaging Solutions
- Growing Focus on Circular Economy Initiatives Boosts Use of Post-Consumer Recycled Plastics in Consumer Goods and Retail
- Rising Adoption of Recycled Plastics in Automotive Manufacturing Expands Opportunities for Lightweight, Sustainable Materials
- Increasing Use of Post-Consumer Recycled Plastics in Building and Construction Fuels Market Growth in Green Building Materials
- Technological Innovations in Chemical Recycling Propel Growth in High-Purity, Recycled Plastic Products for High-Performance Applications
- Surge in Demand for Recycled Plastics in Textiles and Fashion Expands Market for Sustainable Apparel and Footwear
- Growing Focus on Reducing Plastic Waste Drives Adoption of Post-Consumer Recycled Plastics in Food and Beverage Packaging
- Increasing Use of Recycled Plastics in the Electronics Industry Expands Market for Sustainable, Recycled Components in Consumer Electronics
- Rising Demand for Recycled PET (rPET) in Bottling and Packaging Expands Opportunities in Beverage and Consumer Goods Sectors
- Growing Use of Recycled Plastics in Furniture Manufacturing Expands Market for Eco-Friendly Home Furnishings
FOCUS ON SELECT PLAYERS:Some of the 38 companies featured in this Global Post-Consumer Recycled Plastics Market report include:
- Alpha Packaging
- Amcor
- Berry Global Inc.
- Biffa
- Clean Harbors
- Coveris
- Ds Smith
- Eco-Products Inc.
- Genpak Llc
- Huhtamaki
- Mondi Group
- Placon Corporation Inc.
- Remondis Se & Co. Kg
- Republic Services
- Reynolds Packaging
- Sealed Air Corporation
- Smurfit Kappa
- Sonoco Products Company
- Stericycle
- Suez
- Veolia Environment
- Waste Connections, Inc.
- Waste Management Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ctwyb7
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