Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Global Recycled Plastics Market - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The recycled plastics market is projected to grow from USD 69.4 billion in 2023 to USD 120.0 billion by 2030, at a CAGR of 8.1% from 2023 to 2030.
The recycled plastics market is on the way for intense growth across various end-use industries including packaging, textiles, building & construction, automotive, electrical & electronics, and other industries.
By type, the post-consumer recyclate segment is expected to be the largest and fastest growing segment of recycled plastics market during 2023 to 2030
Based on type, post-consumer recyclate is expected to lead the recycled plastics market. Factors such as growing usage of plastics in a wide range of products including clothing and food & beverages are expected to drive the market for the post-consumer recyclate segment during the forecast period.
By end-use industry, packaging segment accounted for the largest share of recycled plastics market in 2022
The packaging segment held the largest share of the market owing to the increase in usage of recycled plastics in packaging industry for a wide range of products. The major recycled resins used for the packaging industry are PET and HDPE. Boots, M&S, Coca-Cola, and Innocent Drinks are a few of the major companies using recycled products for packaging.
The recycled plastics market in North America is projected to witness the second highest CAGR during the forecast period
North America is projected to register the second highest CAGR in the recycled plastics market from 2023 to 2030. North America is one of the key markets for recycled plastics owing to its increasing focus on reducing plastic disposal and promotion of recycled plastics usage.
Competitive landscape
The recycled plastics report is dominated by players, such as Alpek (Mexico), Biffa (UK), Cabka (Germany), Far Eastern New Century Corporation (Taiwan), Indorama Ventures (Thailand), Jayplas (UK), Loop Industries, Inc. (Canada), MBA Polymers Inc. (US), Plastipak Holdings, Inc. (US), Republic Services (US), Stericycle (US), Veolia (France), and others
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 272 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $69.4 Billion |
| Forecasted Market Value (USD) by 2030 | $120 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Premium Insights
- Increase in Demand for Recycled Plastics in Various Applications
- Asia-Pacific to be Fastest-Growing Market Between 2023 and 2030
- Post-Consumer Recyclates to Hold Larger Market Share Between 2023 and 2030
- China to Dominate Market in Asia-Pacific
- Recycled Plastics Market to Register Fastest Growth in South Africa Between 2023 and 2030
Market Dynamics
Drivers
- Negative Environmental Impact of Plastics Disposal
- Growing Awareness Regarding Energy Savings and Government Initiatives
- Increasing Use in Packaging, Automotive, and Electrical & Electronics Industries
- Growth in Chemical Recycling Process
Restraints
- Strong Competition from Virgin Plastic
- Adverse Impact of Downcycling
Opportunities
- Favorable Initiatives to Promote Use of Recycled Plastics in Developed Countries
- Increasing Use in Textile Industry in Developing Countries of Asia-Pacific
- Development of New Recycling Technologies
Challenges
- Ban on Imports of Waste or Scrap Plastics in China
- Difficulty in Collection of Raw Materials
- Low Recycling Rate for Most Plastics Apart from Pet and Hdpe
- Non-Acceptance of Pigmented Plastics by Most Recycling Facilities
Regulatory Landscape
- Ban & Restriction - to Reduce Impact of Certain Plastic Products on the Environment
- Economic Instruments Have Impacted Plastic Usage and Behavior Patterns
- Standardization - Criteria and Guidelines for Quality, Safety, and Acceptability of Products
- Guidance for Industry - Use of Recycled Plastics in Food Packaging
Case Study Analysis
- Closed-Loop Plastic Recycling
- Plastic Recycling in Germany
- Comparison Between Various Rpet Management Methods
Technology Analysis
- Introduction
- Mechanical Recycling
- Chemical Recycling
Company Profiles
Key Companies
- Veolia
- Indorama Ventures
- Far Eastern New Century Corporation
- Alpek
- Berry Global Inc.
- Biffa
- Cabka
- Jayplas
- Kw Plastics
- Loop Industries, Inc.
- Mba Polymers Inc.
- Pet Recycling Team GmbH
- Plastipak Holdings, Inc.
- Remondis Se & Co. Kg
- Republic Services
- Stericycle
- Ultra-Poly Corporation
Other Companies
- B&B Plastics Inc.
- Custom Polymers
- Dalmia Polypro Industries Pvt. Ltd.
- Envision Plastics
- Fresh Pak
- K K Asia Pte Ltd.
- Replas
- Pet Processors LLC
For more information about this report visit https://www.researchandmarkets.com/r/68j5dz
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