Plastic Recycling Global Market Report 2024

Description

“Plastic Recycling Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on plastic recycling market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for plastic recycling? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The plastic recycling market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Polyethylene Terephthalate; Polyethylene; Polystyrene; Polyvinyl Chloride; Polypropylene; Other Types
2) By Source: Bottles; Films; Foams; Fibers; Other Sources
3) By End Use: Packaging; Automotive; Building And Construction; Electrical And Electronics; Other End Uses
Companies Mentioned: Kuusakoski Group Oy; Berry Global Inc; B & B Plastics Inc.; Plastipak Packaging Inc.; CarbonLite Industries LLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Plastic recycling involves the process of transforming waste or scrap plastic into functional and useful products, thereby reducing high rates of plastic pollution, conserving resources, and diverting plastics from landfills or unintended destinations such as the oceans.

The primary types of plastic recycling include polyethylene terephthalate, polyethylene, polystyrene, polyvinyl chloride, polypropylene, and others. Polyethylene terephthalate is a semi-crystalline polymer derived from copolymerizing ethylene glycol and terephthalic acid. It is sourced from various materials, including bottles, films, foams, fibers, and other sources. This type of plastic recycling finds applications in industries such as packaging, automotive, building and construction, electrical and electronics, among others.

The plastic recycling market research report is one of a series of new reports from The Business Research Company that provides plastic recycling market statistics, including the plastic recycling industry global market size, regional shares, competitors with a plastic recycling market share, detailed plastic recycling market segments, market trends, and opportunities, and any further data you may need to thrive in the plastic recycling industry. This plastic recycling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The plastic recycling market size has grown strongly in recent years. It will grow from $41.71 billion in 2023 to $45.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed in the historical period can be attributed to factors such as increased environmental awareness, regulatory initiatives addressing environmental concerns, challenges related to waste management, resource scarcity, incentive programs promoting sustainable practices, and heightened market competition.

The plastic recycling market size is expected to see strong growth in the next few years. It will grow to $61.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. `The anticipated growth in the forecast period can be attributed to the implementation of single-use plastic bans, efforts in consumer education, the adoption of extended producer responsibility (EPR), the utilization of waste-to-energy solutions, and the impact of global supply chains. Major trends expected in the forecast period encompass innovation in sorting technologies, the development of eco-friendly packaging solutions, the emergence of plastic-to-fuel technologies, an increase in collaborations and partnerships, and ongoing innovation in collection systems.

The anticipated growth of the plastic recycling market is driven by the increasing consumption of plastics. Plastics, derived primarily from fossil fuels, are synthetic organic polymers widely utilized in various sectors of the modern economy due to their lightweight, cost-effectiveness, durability, and versatility. Through plastic recycling processes, waste or scrap plastic can be transformed into functional and valuable products. As of 2022, an article from the World Economic Forum estimated that the world generates 400 million tons of plastic waste annually, with packaging constituting approximately 36% of total plastic production, and a significant 85% of it ending up in landfills. Therefore, the rising consumption of plastics is a significant factor propelling the growth of the plastic recycling market.

The surge in plastic waste is expected to drive the growth of the plastic recycling market. Plastic waste, considered environmental pollution, poses a substantial threat to ecosystems and human health. Plastic recycling serves as a solution by converting discarded plastic material into new products, thereby reducing the volume of plastic directed to landfills and incinerators. In 2021, a report by the Minderoo Foundation indicated that around 6 million metric tons of single-use plastic waste were generated globally, reaching 139 million tons in 2021, and this figure is projected to increase by 60 million metric tons by 2027. Consequently, the escalating plastic waste issue is a key driver for the growth of the plastic recycling market.

The adoption of technological advancements emerges as a notable trend in the plastic recycling market. Major industry players are introducing innovations in recycling technologies to streamline and cost-effectively enhance plastic recycling processes, aiming to strengthen their market position. For example, in November 2021, Honeywell International Inc. launched the UpCycle Process Technology, designed to advance the circular economy of plastics through more sustainable and lower-carbon-impact plastic recycling. The technology converts waste plastic into Honeywell recovered polymer feedstock, utilizing cutting-edge molecular conversion, pyrolysis, and pollutants management technology. With UpCycle Process Technology, it is estimated that 90% of global plastic waste could be recycled.

Major companies in the plastic recycling market are focusing on product innovation, such as the development of recycling additives, to gain a competitive advantage. Recycling additives are substances added to recycled plastics to enhance their properties, making them more suitable for use in new products. In May 2023, Evonik Industries AG launched TEGO Cycle, additives designed to reduce energy consumption during the mechanical recycling process and improve the flowability and appearance of recycled plastics. These additives play a crucial role in making recycled plastics more compatible with other materials, facilitating their use in a variety of applications.

In April 2022, SCG Chemicals Co Ltd. acquired a 70% stake in Sirplaste, a plastic recycling company based in Portugal, for an undisclosed amount. This strategic acquisition aimed to expand SCG Chemicals' market presence in Portugal and Europe, particularly in the high-quality post-consumer recycled resin (PCR) product portfolio. The move also bolstered manufacturing capacity and improved the overall quality of SCG Chemicals Co Ltd. Sirplaste specializes in providing plastic waste recycling services, including sorting and crushing waste plastic.

Major companies operating in the plastic recycling market report are Kuusakoski Group Oy, Berry Global Inc, B & B Plastics Inc., Plastipak Packaging Inc., CarbonLite Industries LLC, Custom Polymers Inc, MBA Polymers Inc, Clear Path Recycling LLC, Veolia Environnement S.A, Plasgran Ltd, Jayplas Limited, Envision Plastics Industries LLC, Fresh-Pak Corporation, WM Intellectual Property Holdings LLC, Green Line Polymers Inc, Biffa, Republic Services, Clean Harbors, Stericycle, Advanced Environmental Recycling Technologies, KW Plastics, The Coca-Cola Company, LyondellBasell, Indorama Ventures, Loop Industries, Nova Chemicals, Agilyx, The Procter & Gamble Company, PreZero, GreenMantra Technologies, EFS-plastics Inc., Preserve, Next Generation Recyclingmaschinen GmbH, Interseroh .

North America was the largest region in the plastic recycling market in 2023. The regions covered in the plastic recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the plastic recycling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The plastic recycling market includes revenues earned by entities by providing plastic recycling services such as pyrolysis, chemical recycling, and gasification. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11240

1. Executive Summary

2. Plastic Recycling Market Characteristics

3. Plastic Recycling Market Trends And Strategies

4. Plastic Recycling Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Plastic Recycling Market Size and Growth

5.1. Global Plastic Recycling Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Plastic Recycling Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Plastic Recycling Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Plastic Recycling Market Segmentation

6.1. Global Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Polyethylene Terephthalate
Polyethylene
Polystyrene
Polyvinyl Chloride
Polypropylene
Other Types
6.2. Global Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Bottles
Films
Foams
Fibers
Other Sources
6.3. Global Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Packaging
Automotive
Building And Construction
Electrical And Electronics
Other End Uses

7. Plastic Recycling Market Regional And Country Analysis

7.1. Global Plastic Recycling Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Plastic Recycling Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Plastic Recycling Market

8.1. Asia-Pacific Plastic Recycling Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Plastic Recycling Market

9.1. China Plastic Recycling Market Overview
9.2. China Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Plastic Recycling Market

10.1. India Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Plastic Recycling Market

11.1. Japan Plastic Recycling Market Overview
11.2. Japan Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Plastic Recycling Market

12.1. Australia Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Plastic Recycling Market

13.1. Indonesia Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Plastic Recycling Market

14.1. South Korea Plastic Recycling Market Overview
14.2. South Korea Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Plastic Recycling Market

15.1. Western Europe Plastic Recycling Market Overview
15.2. Western Europe Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Plastic Recycling Market

16.1. UK Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Plastic Recycling Market

17.1. Germany Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Plastic Recycling Market

18.1. France Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Plastic Recycling Market

19.1. Italy Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Plastic Recycling Market

20.1. Spain Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Plastic Recycling Market

21.1. Eastern Europe Plastic Recycling Market Overview
21.2. Eastern Europe Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Plastic Recycling Market

22.1. Russia Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Plastic Recycling Market

23.1. North America Plastic Recycling Market Overview
23.2. North America Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Plastic Recycling Market

24.1. USA Plastic Recycling Market Overview
24.2. USA Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Plastic Recycling Market

25.1. Canada Plastic Recycling Market Overview
25.2. Canada Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Plastic Recycling Market

26.1. South America Plastic Recycling Market Overview
26.2. South America Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Plastic Recycling Market

27.1. Brazil Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Plastic Recycling Market

28.1. Middle East Plastic Recycling Market Overview
28.2. Middle East Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Plastic Recycling Market

29.1. Africa Plastic Recycling Market Overview
29.2. Africa Plastic Recycling Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Plastic Recycling Market, Segmentation By Sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Plastic Recycling Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Plastic Recycling Market Competitive Landscape And Company Profiles

30.1. Plastic Recycling Market Competitive Landscape
30.2. Plastic Recycling Market Company Profiles
- 30.2.1. Kuusakoski Group Oy
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Berry Global Inc
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. B & B Plastics Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Plastipak Packaging Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. CarbonLite Industries LLC
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Plastic Recycling Market Competitive Benchmarking

32. Global Plastic Recycling Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Plastic Recycling Market

34. Plastic Recycling Market Future Outlook and Potential Analysis

34.1 Plastic Recycling Market In 2028 - Countries Offering Most New Opportunities
34.2 Plastic Recycling Market In 2028 - Segments Offering Most New Opportunities
34.3 Plastic Recycling Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer