Global Plastic Recycling Services Market Size Study, by Process (Mechanical Recycling, Chemical Recycling), Type (Plastic Bottles, Plastic Films, Polymer Foam), and Regional Forecasts 2022-2032

Description

The Global Plastic Recycling Services Market, valued at approximately USD 26.55 billion in 2023, is poised to expand at a robust CAGR of 8.11% during the forecast period 2024-2032, reaching an estimated USD 53.56 billion by 2032. Plastic recycling services play a pivotal role in addressing global environmental concerns, offering solutions to manage plastic waste while fostering sustainable practices across industries. The market is underpinned by innovations in recycling technologies, such as chemical and mechanical recycling, that improve efficiency, reduce carbon footprints, and promote the circular economy.

Increasing awareness about environmental sustainability, coupled with stringent government regulations targeting single-use plastics, has catalyzed the demand for recycling services. The adoption of mechanical recycling processes dominates the industry, driven by its cost-effectiveness and widespread application in converting post-consumer plastic waste into reusable materials. Simultaneously, advancements in chemical recycling methods are unlocking new opportunities for recycling complex plastic materials, such as multi-layered packaging and polymer foam, broadening the scope of applications.

However, challenges such as the high costs of recycling technologies and inadequate recycling infrastructure in developing economies remain significant hurdles. Nonetheless, industry players are proactively investing in cutting-edge innovations and expanding their operational footprints to overcome these obstacles. The emergence of public-private partnerships and global initiatives aimed at improving waste collection and recycling rates further strengthens the market outlook. Moreover, the integration of AI-driven sorting systems and sustainable supply chain management underscores the growing sophistication of plastic recycling services.

Regionally, the Asia Pacific market dominates, with countries like China, India, and Japan exhibiting robust growth due to extensive industrialization, proactive government policies, and rising public awareness of plastic waste management. Europe and North America are significant contributors as well, driven by stringent environmental regulations and the presence of leading recycling technology providers. Meanwhile, Latin America and the Middle East & Africa are expected to witness accelerated growth, supported by burgeoning investments in recycling infrastructure and awareness campaigns.

Major market players included in this report are:

Veolia Environnement S.A.
SUEZ Recycling and Recovery Holdings
Waste Management, Inc.
Clean Harbors, Inc.
Advanced Environmental Recycling Technologies, Inc.
Covanta Holding Corporation
Republic Services, Inc.
Remondis SE & Co. KG
Biffa plc
Stericycle, Inc.
TOMRA Sorting Solutions
Kuusakoski Group Oy
Placon Corporation
CarbonLite Industries LLC
Loop Industries, Inc.

The detailed segments and sub-segment of the market are explained below:

By Process:

Mechanical Recycling
Chemical Recycling

By Type:

Plastic Bottles
Plastic Films
Polymer Foam

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approaches.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Plastic Recycling Services Market Executive Summary

1.1. Global Plastic Recycling Services Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Process
- 1.3.2. By Type
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Plastic Recycling Services Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Plastic Recycling Services Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Environmental Awareness and Sustainability Initiatives
- 3.1.2. Stricter Government Regulations on Plastic Waste Management
- 3.1.3. Innovation in Recycling Technologies and Processes
3.2. Market Challenges
- 3.2.1. High Costs of Advanced Recycling Technologies
- 3.2.2. Inadequate Recycling Infrastructure in Developing Regions
3.3. Market Opportunities
- 3.3.1. Expansion of Chemical Recycling Capabilities
- 3.3.2. Growth in Circular Economy Practices
- 3.3.3. Integration of AI-Driven Sorting and Processing Systems

Chapter 4. Global Plastic Recycling Services Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Plastic Recycling Services Market Size & Forecasts by Process 2022-2032

5.1. Segment Dashboard
5.2. Global Plastic Recycling Services Market: Process Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Mechanical Recycling
- 5.2.2. Chemical Recycling

Chapter 6. Global Plastic Recycling Services Market Size & Forecasts by Type 2022-2032

6.1. Segment Dashboard
6.2. Global Plastic Recycling Services Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Plastic Bottles
- 6.2.2. Plastic Films
- 6.2.3. Polymer Foam

Chapter 7. Global Plastic Recycling Services Market Size & Forecasts by Region 2022-2032

7.1. North America Plastic Recycling Services Market
- 7.1.1. U.S. Plastic Recycling Services Market
  - 7.1.1.1. Process Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.3. Product Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.4. End Use Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.5. Other Segments Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Plastic Recycling Services Market
7.2. Europe Plastic Recycling Services Market
- 7.2.1. UK Plastic Recycling Services Market
- 7.2.2. Germany Plastic Recycling Services Market
- 7.2.3. France Plastic Recycling Services Market
- 7.2.4. Spain Plastic Recycling Services Market
- 7.2.5. Italy Plastic Recycling Services Market
- 7.2.6. Rest of Europe Plastic Recycling Services Market
7.3. Asia Pacific Plastic Recycling Services Market
- 7.3.1. China Plastic Recycling Services Market
- 7.3.2. India Plastic Recycling Services Market
- 7.3.3. Japan Plastic Recycling Services Market
- 7.3.4. Australia Plastic Recycling Services Market
- 7.3.5. South Korea Plastic Recycling Services Market
- 7.3.6. Rest of Asia Pacific Plastic Recycling Services Market
7.4. Latin America Plastic Recycling Services Market
- 7.4.1. Brazil Plastic Recycling Services Market
- 7.4.2. Mexico Plastic Recycling Services Market
- 7.4.3. Rest of Latin America Plastic Recycling Services Market
7.5. Middle East & Africa Plastic Recycling Services Market
- 7.5.1. Saudi Arabia Plastic Recycling Services Market
- 7.5.2. South Africa Plastic Recycling Services Market
- 7.5.3. Rest of Middle East & Africa Plastic Recycling Services Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Veolia Environnement S.A.
- 8.1.2. SUEZ Recycling and Recovery Holdings
- 8.1.3. Waste Management, Inc.
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Veolia Environnement S.A.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. SUEZ Recycling and Recovery Holdings
- 8.3.3. Waste Management, Inc.
- 8.3.4. Clean Harbors, Inc.
- 8.3.5. Advanced Environmental Recycling Technologies, Inc.
- 8.3.6. Covanta Holding Corporation
- 8.3.7. Republic Services, Inc.
- 8.3.8. Remondis SE & Co. KG
- 8.3.9. Biffa plc
- 8.3.10. Stericycle, Inc.
- 8.3.11. TOMRA Sorting Solutions
- 8.3.12. Kuusakoski Group Oy
- 8.3.13. Placon Corporation
- 8.3.14. CarbonLite Industries LLC
- 8.3.15. Loop Industries, Inc.

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes