The Global Recycled Plastics Market size is expected to reach $106.6 billion by 2031, rising at a market growth of 9.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 39,075.7 kilo tonnes, experiencing a growth of 22.2% (2020-2023).
Recycling polyvinyl chloride (PVC) reduces the demand for virgin PVC resin, conserving natural resources such as crude oil and natural gas. Therefore, the Recycling polyvinyl chloride (PVC) acquired $7,671.6 million revenue in 2023. Also, the US market would utilize 1,996.4 kilo tonnes of Recycled Plastics by 2031. Producing recycled PVC requires less energy than recycling virgin PVC, reducing energy consumption and lowering greenhouse gas emissions.
The design of products based on DfR principles aims to increase the quality of recycled plastics and the efficiency of the recycling process by utilizing compatible materials that are easy to separate and recycle. Designing products for easy disassembly and separation of components allows for more efficient material recovery and recycling, increasing the yield and quality of recycled plastics. Therefore, the market is expanding significantly due to the integrating design for recycling (DfR) principles. Additionally, Additives and modifiers can enhance the mechanical properties of recycled plastics, such as strength, stiffness, and impact resistance, making them suitable for a wider range of applications. They can also improve the thermal stability of recycled plastics, allowing them to withstand higher temperatures during processing and use, expanding their potential applications. Thus, because of the recycled plastic additives and modifiers, the market is anticipated to increase significantly.
However, Supply chain complexity and fragmentation can lead to higher costs due to inefficiencies in logistics, transportation, and inventory management, making recycled plastics less competitive compared to virgin plastics. Therefore, fragmented supply chains are more vulnerable to disruptions, like natural disasters, geopolitical tensions, and economic downturns, which can disrupt the flow of recycled plastics and hinder market growth.
Product Outlook
By product, the market is categorized into polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and others. The polyethylene terephthalate segment procured a promising growth rate in the market in 2023. In terms of volume, the polyethylene terephthalate segment would utilize 9,014.4 kilo tonnes of recycled plastics by 2031. PET is one of the most used plastics globally, especially in packaging applications. Its widespread use in bottles, containers, and packaging has led to significant PET waste, creating opportunities for recycling, and developing recycled plastics.
Source Outlook
Based on source, the market is classified into plastic bottles, plastic films, polymer foam, and others. The polymer foam segment garnered a significant revenue share in the market in 2023. In terms of volume, the polymer foam segment would utilize 8,044.3 kilo tonnes of recycled plastics by 2031. Polymer foams are used in various applications across various industries, including packaging, construction, automotive, furniture, and consumer goods. Common types of polymer foams include expanded polystyrene (EPS), expanded polyethylene (EPE), and polyurethane (PU) foam.
Application Outlook
On the basis of application, the market is divided into building & construction, packaging, electrical & electronics, textiles, automotive, and others. In 2023, the packaging segment acquired 36.1% market share in the market. In terms of volume, the packaging segment would utilize 24,251.3 kilo tonnes of recycled plastics by 2031. Recycled plastics, including rPE, rPP, and rPET, are used to produce flexible packaging materials, such as pouches, bags, and sachets, for various products, including snacks, beverages, and personal care items.
Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region led the market by generating a 47.2% revenue share. In terms of volume, the Asia Pacific region would utilize 38,370.5 kilo tonnes of recycled plastics by 2031. The Asia Pacific region is experiencing rapid economic growth and urbanization, increasing plastic consumption and waste generation. Managing and decreasing plastic waste in Asia Pacific's densely populated urban areas fuels the demand for recycled plastics.
List of Key Companies Profiled
- Remondis SE & Co. KG (Rethmann Se & Co. Kg)
- Stericycle, Inc.
- Veolia Environnement S.A.
- Shell plc
- Clean Harbors, Inc.
- Covestro AG
- Cabka Group GmbH
- Indorama Ventures Public Company Limited (Indorama Resources Ltd.)
- Plastipak Holdings, Inc.
- Biffa plc (Energy Capital Partners Management, LP)
Global Recycled Plastics Market Report Segmentation
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Polyethylene
- Polypropylene
- Polyethylene Terephthalate
- Polyvinyl Chloride
- Polystyrene
- Others
By Source (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Plastic Bottles
- Plastic Films
- Polymer Foam
- Others
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Packaging
- Building & Construction
- Electrical & Electronics
- Textiles
- Automotive
- Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Recycled Plastics Market, by Product
- 1.4.2Global Recycled Plastics Market, by Source
- 1.4.3Global Recycled Plastics Market, by Application
- 1.4.4Global Recycled Plastics Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Opportunities
- 3.2.3Market Restraints
- 3.2.4Market Challenges
- 3.3Porter Five Forces Analysis
Chapter 4.Global Recycled Plastics Market by Product
- 4.1Global Polyethylene Market by Region
- 4.2Global Polypropylene Market by Region
- 4.3Global Polyethylene Terephthalate Market by Region
- 4.4Global Polyvinyl Chloride Market by Region
- 4.5Global Polystyrene Market by Region
- 4.6Global Others Market by Region
Chapter 5.Global Recycled Plastics Market by Source
- 5.1Global Plastic Bottles Market by Region
- 5.2Global Plastic Films Market by Region
- 5.3Global Polymer Foam Market by Region
- 5.4Global Others Market by Region
Chapter 6.Global Recycled Plastics Market by Application
- 6.1Global Packaging Market by Region
- 6.2Global Building & Construction Market by Region
- 6.3Global Electrical & Electronics Market by Region
- 6.4Global Textiles Market by Region
- 6.5Global Automotive Market by Region
- 6.6Global Others Market by Region
Chapter 7.Global Recycled Plastics Market by Region
- 7.1North America Recycled Plastics Market
- 7.1.1North America Recycled Plastics Market by Product
- 7.1.1.1North America Polyethylene Market by Country
- 7.1.1.2North America Polypropylene Market by Country
- 7.1.1.3North America Polyethylene Terephthalate Market by Country
- 7.1.1.4North America Polyvinyl Chloride Market by Country
- 7.1.1.5North America Polystyrene Market by Country
- 7.1.1.6North America Others Market by Country
- 7.1.2North America Recycled Plastics Market by Source
- 7.1.2.1North America Plastic Bottles Market by Country
- 7.1.2.2North America Plastic Films Market by Country
- 7.1.2.3North America Polymer Foam Market by Country
- 7.1.2.4North America Others Market by Country
- 7.1.3North America Recycled Plastics Market by Application
- 7.1.3.1North America Packaging Market by Country
- 7.1.3.2North America Building & Construction Market by Country
- 7.1.3.3North America Electrical & Electronics Market by Country
- 7.1.3.4North America Textiles Market by Country
- 7.1.3.5North America Automotive Market by Country
- 7.1.3.6North America Others Market by Country
- 7.1.4North America Recycled Plastics Market by Country
- 7.1.4.1US Recycled Plastics Market
- 7.1.4.1.1US Recycled Plastics Market by Product
- 7.1.4.1.2US Recycled Plastics Market by Source
- 7.1.4.1.3US Recycled Plastics Market by Application
- 7.1.4.2Canada Recycled Plastics Market
- 7.1.4.2.1Canada Recycled Plastics Market by Product
- 7.1.4.2.2Canada Recycled Plastics Market by Source
- 7.1.4.2.3Canada Recycled Plastics Market by Application
- 7.1.4.3Mexico Recycled Plastics Market
- 7.1.4.3.1Mexico Recycled Plastics Market by Product
- 7.1.4.3.2Mexico Recycled Plastics Market by Source
- 7.1.4.3.3Mexico Recycled Plastics Market by Application
- 7.1.4.4Rest of North America Recycled Plastics Market
- 7.1.4.4.1Rest of North America Recycled Plastics Market by Product
- 7.1.4.4.2Rest of North America Recycled Plastics Market by Source
- 7.1.4.4.3Rest of North America Recycled Plastics Market by Application
- 7.2Europe Recycled Plastics Market
- 7.2.1Europe Recycled Plastics Market by Product
- 7.2.1.1Europe Polyethylene Market by Country
- 7.2.1.2Europe Polypropylene Market by Country
- 7.2.1.3Europe Polyethylene Terephthalate Market by Country
- 7.2.1.4Europe Polyvinyl Chloride Market by Country
- 7.2.1.5Europe Polystyrene Market by Country
- 7.2.1.6Europe Others Market by Country
- 7.2.2Europe Recycled Plastics Market by Source
- 7.2.2.1Europe Plastic Bottles Market by Country
- 7.2.2.2Europe Plastic Films Market by Country
- 7.2.2.3Europe Polymer Foam Market by Country
- 7.2.2.4Europe Others Market by Country
- 7.2.3Europe Recycled Plastics Market by Application
- 7.2.3.1Europe Packaging Market by Country
- 7.2.3.2Europe Building & Construction Market by Country
- 7.2.3.3Europe Electrical & Electronics Market by Country
- 7.2.3.4Europe Textiles Market by Country
- 7.2.3.5Europe Automotive Market by Country
- 7.2.3.6Europe Others Market by Country
- 7.2.4Europe Recycled Plastics Market by Country
- 7.2.4.1Germany Recycled Plastics Market
- 7.2.4.1.1Germany Recycled Plastics Market by Product
- 7.2.4.1.2Germany Recycled Plastics Market by Source
- 7.2.4.1.3Germany Recycled Plastics Market by Application
- 7.2.4.2UK Recycled Plastics Market
- 7.2.4.2.1UK Recycled Plastics Market by Product
- 7.2.4.2.2UK Recycled Plastics Market by Source
- 7.2.4.2.3UK Recycled Plastics Market by Application
- 7.2.4.3France Recycled Plastics Market
- 7.2.4.3.1France Recycled Plastics Market by Product
- 7.2.4.3.2France Recycled Plastics Market by Source
- 7.2.4.3.3France Recycled Plastics Market by Application
- 7.2.4.4Russia Recycled Plastics Market
- 7.2.4.4.1Russia Recycled Plastics Market by Product
- 7.2.4.4.2Russia Recycled Plastics Market by Source
- 7.2.4.4.3Russia Recycled Plastics Market by Application
- 7.2.4.5Spain Recycled Plastics Market
- 7.2.4.5.1Spain Recycled Plastics Market by Product
- 7.2.4.5.2Spain Recycled Plastics Market by Source
- 7.2.4.5.3Spain Recycled Plastics Market by Application
- 7.2.4.6Italy Recycled Plastics Market
- 7.2.4.6.1Italy Recycled Plastics Market by Product
- 7.2.4.6.2Italy Recycled Plastics Market by Source
- 7.2.4.6.3Italy Recycled Plastics Market by Application
- 7.2.4.7Rest of Europe Recycled Plastics Market
- 7.2.4.7.1Rest of Europe Recycled Plastics Market by Product
- 7.2.4.7.2Rest of Europe Recycled Plastics Market by Source
- 7.2.4.7.3Rest of Europe Recycled Plastics Market by Application
- 7.3Asia Pacific Recycled Plastics Market
- 7.3.1Asia Pacific Recycled Plastics Market by Product
- 7.3.1.1Asia Pacific Polyethylene Market by Country
- 7.3.1.2Asia Pacific Polypropylene Market by Country
- 7.3.1.3Asia Pacific Polyethylene Terephthalate Market by Country
- 7.3.1.4Asia Pacific Polyvinyl Chloride Market by Country
- 7.3.1.5Asia Pacific Polystyrene Market by Country
- 7.3.1.6Asia Pacific Others Market by Country
- 7.3.2Asia Pacific Recycled Plastics Market by Source
- 7.3.2.1Asia Pacific Plastic Bottles Market by Country
- 7.3.2.2Asia Pacific Plastic Films Market by Country
- 7.3.2.3Asia Pacific Polymer Foam Market by Country
- 7.3.2.4Asia Pacific Others Market by Country
- 7.3.3Asia Pacific Recycled Plastics Market by Application
- 7.3.3.1Asia Pacific Packaging Market by Country
- 7.3.3.2Asia Pacific Building & Construction Market by Country
- 7.3.3.3Asia Pacific Electrical & Electronics Market by Country
- 7.3.3.4Asia Pacific Textiles Market by Country
- 7.3.3.5Asia Pacific Automotive Market by Country
- 7.3.3.6Asia Pacific Others Market by Country
- 7.3.4Asia Pacific Recycled Plastics Market by Country
- 7.3.4.1China Recycled Plastics Market
- 7.3.4.1.1China Recycled Plastics Market by Product
- 7.3.4.1.2China Recycled Plastics Market by Source
- 7.3.4.1.3China Recycled Plastics Market by Application
- 7.3.4.2Japan Recycled Plastics Market
- 7.3.4.2.1Japan Recycled Plastics Market by Product
- 7.3.4.2.2Japan Recycled Plastics Market by Source
- 7.3.4.2.3Japan Recycled Plastics Market by Application
- 7.3.4.3India Recycled Plastics Market
- 7.3.4.3.1India Recycled Plastics Market by Product
- 7.3.4.3.2India Recycled Plastics Market by Source
- 7.3.4.3.3India Recycled Plastics Market by Application
- 7.3.4.4South Korea Recycled Plastics Market
- 7.3.4.4.1South Korea Recycled Plastics Market by Product
- 7.3.4.4.2South Korea Recycled Plastics Market by Source
- 7.3.4.4.3South Korea Recycled Plastics Market by Application
- 7.3.4.5Singapore Recycled Plastics Market
- 7.3.4.5.1Singapore Recycled Plastics Market by Product
- 7.3.4.5.2Singapore Recycled Plastics Market by Source
- 7.3.4.5.3Singapore Recycled Plastics Market by Application
- 7.3.4.6Malaysia Recycled Plastics Market
- 7.3.4.6.1Malaysia Recycled Plastics Market by Product
- 7.3.4.6.2Malaysia Recycled Plastics Market by Source
- 7.3.4.6.3Malaysia Recycled Plastics Market by Application
- 7.3.4.7Rest of Asia Pacific Recycled Plastics Market
- 7.3.4.7.1Rest of Asia Pacific Recycled Plastics Market by Product
- 7.3.4.7.2Rest of Asia Pacific Recycled Plastics Market by Source
- 7.3.4.7.3Rest of Asia Pacific Recycled Plastics Market by Application
- 7.4LAMEA Recycled Plastics Market
- 7.4.1LAMEA Recycled Plastics Market by Product
- 7.4.1.1LAMEA Polyethylene Market by Country
- 7.4.1.2LAMEA Polypropylene Market by Country
- 7.4.1.3LAMEA Polyethylene Terephthalate Market by Country
- 7.4.1.4LAMEA Polyvinyl Chloride Market by Country
- 7.4.1.5LAMEA Polystyrene Market by Country
- 7.4.1.6LAMEA Others Market by Country
- 7.4.2LAMEA Recycled Plastics Market by Source
- 7.4.2.1LAMEA Plastic Bottles Market by Country
- 7.4.2.2LAMEA Plastic Films Market by Country
- 7.4.2.3LAMEA Polymer Foam Market by Country
- 7.4.2.4LAMEA Others Market by Country
- 7.4.3LAMEA Recycled Plastics Market by Application
- 7.4.3.1LAMEA Packaging Market by Country
- 7.4.3.2LAMEA Building & Construction Market by Country
- 7.4.3.3LAMEA Electrical & Electronics Market by Country
- 7.4.3.4LAMEA Textiles Market by Country
- 7.4.3.5LAMEA Automotive Market by Country
- 7.4.3.6LAMEA Others Market by Country
- 7.4.4LAMEA Recycled Plastics Market by Country
- 7.4.4.1Brazil Recycled Plastics Market
- 7.4.4.1.1Brazil Recycled Plastics Market by Product
- 7.4.4.1.2Brazil Recycled Plastics Market by Source
- 7.4.4.1.3Brazil Recycled Plastics Market by Application
- 7.4.4.2Argentina Recycled Plastics Market
- 7.4.4.2.1Argentina Recycled Plastics Market by Product
- 7.4.4.2.2Argentina Recycled Plastics Market by Source
- 7.4.4.2.3Argentina Recycled Plastics Market by Application
- 7.4.4.3UAE Recycled Plastics Market
- 7.4.4.3.1UAE Recycled Plastics Market by Product
- 7.4.4.3.2UAE Recycled Plastics Market by Source
- 7.4.4.3.3UAE Recycled Plastics Market by Application
- 7.4.4.4Saudi Arabia Recycled Plastics Market
- 7.4.4.4.1Saudi Arabia Recycled Plastics Market by Product
- 7.4.4.4.2Saudi Arabia Recycled Plastics Market by Source
- 7.4.4.4.3Saudi Arabia Recycled Plastics Market by Application
- 7.4.4.5South Africa Recycled Plastics Market
- 7.4.4.5.1South Africa Recycled Plastics Market by Product
- 7.4.4.5.2South Africa Recycled Plastics Market by Source
- 7.4.4.5.3South Africa Recycled Plastics Market by Application
- 7.4.4.6Nigeria Recycled Plastics Market
- 7.4.4.6.1Nigeria Recycled Plastics Market by Product
- 7.4.4.6.2Nigeria Recycled Plastics Market by Source
- 7.4.4.6.3Nigeria Recycled Plastics Market by Application
- 7.4.4.7Rest of LAMEA Recycled Plastics Market
- 7.4.4.7.1Rest of LAMEA Recycled Plastics Market by Product
- 7.4.4.7.2Rest of LAMEA Recycled Plastics Market by Source
- 7.4.4.7.3Rest of LAMEA Recycled Plastics Market by Application
Chapter 8.Company Profiles
- 8.1Remondis SE & Co. KG (Rethmann Se & Co. Kg)
- 8.1.1Company Overview
- 8.1.2SWOT Analysis
- 8.2Stericycle, Inc.
- 8.2.1Company Overview
- 8.2.2Financial Analysis
- 8.2.3Segmental and Regional Analysis
- 8.2.4Recent strategies and developments:
- 8.2.4.1Product Launches and Product Expansions:
- 8.2.5SWOT Analysis
- 8.3Veolia Environnement S.A.
- 8.3.1Company Overview
- 8.3.2Financial Analysis
- 8.3.3Segmental and Regional Analysis
- 8.3.4Research & Development Expenses
- 8.3.5Recent strategies and developments:
- 8.3.5.1Partnerships, Collaborations, and Agreements:
- 8.3.6SWOT Analysis
- 8.4Shell plc
- 8.4.1Company Overview
- 8.4.2Financial Analysis
- 8.4.3Segmental and Regional Analysis
- 8.4.4Research & Development Expenses
- 8.4.5SWOT Analysis
- 8.5Clean Harbors, Inc.
- 8.5.1Company Overview
- 8.5.2Financial Analysis
- 8.5.3Segmental and Regional Analysis
- 8.5.4SWOT Analysis
- 8.6Covestro AG
- 8.6.1Company Overview
- 8.6.2Financial Analysis
- 8.6.3Segmental and Regional Analysis
- 8.6.4Research & Development Expenses
- 8.6.5SWOT Analysis
- 8.7Cabka Group GmbH
- 8.7.1Company Overview
- 8.7.2Financial Analysis
- 8.7.3Segmental and Regional Analysis
- 8.7.4SWOT Analysis
- 8.8Indorama Ventures Public Company Limited (Indorama Resources Ltd.)
- 8.8.1Company Overview
- 8.8.2Financial Analysis
- 8.8.3SWOT Analysis
- 8.9Plastipak Holdings, Inc.
- 8.9.1Company Overview
- 8.9.2Recent strategies and developments:
- 8.9.2.1Partnerships, Collaborations, and Agreements:
- 8.9.3SWOT Analysis
- 8.10.Biffa plc
- 8.10.1Company Overview
- 8.10.2Recent strategies and developments:
- 8.10.2.1Partnerships, Collaborations, and Agreements:
- 8.10.3SWOT Analysis
Chapter 9.Winning imperatives of Recycled Plastics Market