Recycled Plastics Market Size, Share, Forecast, & Trends Analysis by Type, Process, Application, and Geography

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Recycled Plastics Market by Type (Polyvinyl Chloride, High-density Polyethylene, Polyethylene Terephthalate), Process (Mechanical, Chemical), Application (Packaging Materials, Construction & Building Materials), and Geography-Global Forecast to 2031.

The research report titled 'Recycled Plastics Market by Type (Polyvinyl Chloride, High-density Polyethylene, Polyethylene Terephthalate), Process (Mechanical, Chemical), Application (Packaging Materials, Construction & Building Materials), and Geography-Global Forecast to 2031' provides an in-depth analysis of recycled plastics market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The recycled plastics market is projected to reach $101.3 billion by 2031, at a CAGR of 8.7% from 2024 to 2031.

The growth of the recycled plastics market is propelled by their increasing application in the packaging, automotive, and electronics industries, along with rising consumer awareness of environmental conservation and sustainability. However, the rising preference for virgin plastics over recycled substitutes poses a challenge to market growth. In addition, The rising implementation of policies and regulations aimed at recycling and reducing plastic waste is anticipated to create growth opportunities for players operating in this market. However, the collection of raw materials poses a significant challenge that affects the market's growth. Furthermore, the surging use of chemical processes for plastic recycling is a prominent trend in the recycled plastics market.

The recycled plastics market is segmented by type (Polyethylene Terephthalate (PET), High-density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Low-density Polyethylene (LDPE), Polypropylene (PP), Polystyrene (PS), and other types), process (mechanical, chemical, and other processes), and application (packaging materials, construction & building materials, automotive & transportation, electrical & electronic devices, agriculture & gardening, healthcare, consumer products, pharmaceutical, and other applications). The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on type, the recycled plastics market is segmented into Polyethylene Terephthalate (PET), High-density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Low-density Polyethylene (LDPE), Polypropylene (PP), and Polystyrene (PS). In 2024, the Polyvinyl Chloride (PVC) segment is expected to account for the largest share of over 28.0% of the market. This segment's large market share is attributed to the growing preference for PVC plastic, driven by its high resistance to deformation, excellent tensile strength, and durability against abrasion and wear. Additionally, the rising demand for PVC is fueled by its superior vapor barrier capacity and dielectric strength. However, the High-density Polyethylene (HDPE) segment is poised to register the highest CAGR during the forecast period.

Based on process, the recycled plastics market is segmented into mechanical, chemical, and other processes. In 2024, the mechanical segment is expected to account for the largest share of over 44.0% of the market. This segment's large market share is driven by the adoption of mechanical processes for plastic recycling, which are recognized for being cost-effective, straightforward, and low in energy consumption. Additionally, there is a growing need to minimize plastic waste in landfills during recycling, along with an increasing emphasis on using mechanical methods to reduce greenhouse gas emissions. However, the chemical process segment is poised to register the highest CAGR during the forecast period.

Based on application, the recycled plastics market is segmented into packaging materials, construction & building materials, automotive & transportation, electrical & electronic devices, agriculture & gardening, healthcare, consumer products, pharmaceuticals, and other applications. In 2024, the packaging materials segment is expected to account for the largest share of over 39.0% of the market. However, the construction & building materials segment is poised to register the highest CAGR during the forecast period. The growth of this segment is driven by the rising adoption of recycled plastic materials, attributed to their cost-effectiveness, durability, resistance to water and corrosion, and lightweight characteristics.

Based on geography, the recycled plastics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 61.0% of the market. Asia-Pacific's large market share is attributed to increasing government initiatives aimed at environmental sustainability, a rising need to reduce plastic waste, and growing demand for recycled plastics across various end-use industries, including packaging, automotive, construction, and consumer goods. Additionally, advancements in recycling technologies, such as chemical recycling and enhanced sorting systems, are further contributing to this growth. Moreover, Asia-Pacific is poised to register the highest CAGR of over 10.0% during the forecast period.

The key players operating in the recycled plastics market are Loop Industries, Inc. (U.S.), Stericycle, Inc. (U.S.), Covestro AG (Germany), KW Plastics (U.S.), Custom Polymers, Inc. (U.S.), Plastipak Holdings, Inc. (U.S.), ReVital Polymers (Canada), MBA Polymers Inc. (U.S.), Alpek Polyester USA, LLC (U.S.), Biffa Ltd (U.K.), Ultra-Poly Corporation (U.S.), B. Schoenberg & Co., Inc. (U.S.), RJM International Inc. (U.S.), Fresh Pak (U.S.), and B & B Plastics Inc. (U.S.).

Key Questions Answered in the Report:

What are the high-growth market segments in terms of type, process, and application?
What is the historical market size for recycled plastics?
What are the market forecasts and estimates for 2024-2031?
What are the major drivers, restraints, opportunities, challenges, and trends in recycled plastics?
Who are the major players in the recycled plastics market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the recycled plastics market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the recycled plastics market, and how do they compete with other players?

Scope of the Report:

Recycled Plastics Market Assessment-by Type

Polyethylene Terephthalate (PET)
High-density Polyethylene (HDPE)
Polyvinyl Chloride (PVC)
Low-density Polyethylene (LDPE)
Polypropylene (PP)
Polystyrene (PS)
Other Types

Recycled Plastics Market Assessment-by Process

Mechanical
Chemical
Other Processes

Recycled Plastics Market Assessment-by Application

Packaging Materials
Construction & Building Materials
Automotive & Transportation
Electrical & Electronic Devices
Agriculture & Gardening
Healthcare
Consumer Products
Pharmaceuticals
Other Applications

Recycled Plastics Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Netherlands
- Spain
- Sweden
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia & New Zealand
- Indonesia
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- Rest of Middle East & Africa

Product Code: MRCHM - 1041316

1. Introduction

1.1. Market Definition & Scope
1.2. Currency & Limitations
- 1.2.1. Currency
- 1.2.2. Limitations

2. Research Methodology

2.1. Research Approach
2.2. Data Collection & Validation Process
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecasting
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Market Overview
3.2. Market Analysis, by Type
3.3. Market Analysis, by Process
3.4. Market Analysis, by Application
3.5. Market Analysis, by Geography
3.6. Competitive Analysis

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Drivers
  - 4.2.1.1. Growing Use in the Packaging, Automotive, and Electronic Industries
  - 4.2.1.2. Growing Consumer Awareness Regarding Environmental Conservation & Sustainability
- 4.2.2. Restraints
  - 4.2.2.1. Growing Preference for Virgin Plastics Over Recycled Substitutes
- 4.2.3. Opportunities
  - 4.2.3.1. Increasing Policies & Regulations for Recycling & Reducing Plastic Waste
- 4.2.4. Challenges
  - 4.2.4.1. Collection of Raw Materials
4.3. Key Trends
- 4.3.1. Surging Use of Chemical Processes for Plastic Recycling
4.4. Case Studies
- 4.4.1. Case Study A
- 4.4.2. Case Study B
- 4.4.3. Case Study C
4.5. Value Chain Analysis

5. Recycled Plastics Market Assessment-by Type

5.1. Overview
5.2. Polyethylene Terephthalate (PET)
5.3. High-density Polyethylene (HDPE)
5.4. Polyvinyl Chloride (PVC)
5.5. Low-density Polyethylene (LDPE)
5.6. Polypropylene (PP)
5.7. Polystyrene (PS)
5.8. Other Types

6. Recycled Plastics Market Assessment-by Process

6.1. Overview
6.2. Mechanical
6.3. Chemical
6.4. Other Processes

7. Recycled Plastics Market Assessment-by Application

7.1. Overview
7.2. Packaging Materials
7.3. Construction & Building Materials
7.4. Automotive & Transportation
7.5. Electrical & Electronic Devices
7.6. Agriculture & Gardening
7.7. Healthcare
7.8. Consumer Products
7.9. Pharmaceuticals
7.10. Other Applications

8. Recycled Plastics Market Assessment-by Geography

8.1. Overview
8.2. North America
- 8.2.1. U.S.
- 8.2.2. Canada
8.3. Europe
- 8.3.1. Germany
- 8.3.2. U.K.
- 8.3.3. France
- 8.3.4. Italy
- 8.3.5. Netherlands
- 8.3.6. Spain
- 8.3.7. Sweden
- 8.3.8. Rest of Europe
8.4. Asia-Pacific
- 8.4.1. Japan
- 8.4.2. China
- 8.4.3. India
- 8.4.4. South Korea
- 8.4.5. Singapore
- 8.4.6. Australia & New Zealand
- 8.4.7. Indonesia
- 8.4.8. Rest of Asia-Pacific
8.5. Latin America
- 8.5.1. Mexico
- 8.5.2. Brazil
- 8.5.3. Rest of Latin America
8.6. Middle East & Africa
- 8.6.1. UAE
- 8.6.2. Saudi Arabia
- 8.6.3. Israel
- 8.6.4. Rest of Middle East & Africa

9. Competition Analysis

9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
- 9.4.1. Industry Leaders
- 9.4.2. Market Differentiators
- 9.4.3. Vanguards
- 9.4.4. Emerging Companies
9.5. Market Rankings/Market Share Analysis of Key Players, 2023

10. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis)

10.1. Loop Industries, Inc.
10.2. Stericycle, Inc.
10.3. Covestro AG
10.4. KW Plastics
10.5. Custom Polymers, Inc.
10.6. Plastipak Holdings, Inc.
10.7. ReVital Polymers
10.8. MBA Polymers Inc.
10.9. Alpek Polyester USA, LLC
10.10. Biffa Ltd
10.11. Ultra-Poly Corporation
10.12. B. Schoenberg & Co., Inc.
10.13. RJM International Inc.
10.14. Fresh Pak
10.15. B & B Plastics Inc.

(Note: A SWOT analysis will be provided for the top 5 companies operating in the recycled plastics market.)

11. Appendix

11.1. Available Customization
11.2. Related Reports