PUBLISHER: The Business Research Company | PRODUCT CODE: 1653308
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653308
Recycled plastic is characterized as plastic that has undergone decontamination during the recycling process and has undergone additional post-processing without being transformed into recycled plastic products. This involves collecting used plastic waste and transforming it into new, functional plastic items, contributing to the reduction of plastic waste. Globally, over a trillion pounds of plastic are produced and used, and recycling plays a crucial role in ensuring that this substantial volume is repurposed rather than wasted. Recycled plastics find applications in the manufacturing of containers for beauty products, new plastic bottles, and durable items like plant holders.
The primary types of recycled plastics include polyethylene terephthalate, polyvinyl chloride, polyethylene, polypropylene, polystyrene, and others. Polyethylene terephthalate, for example, is utilized in the production of shopping bags, videotapes, water bottles, and more. It is a condensation polymer of terephthalic acid and ethylene glycol. Various sources provide the raw material for recycled plastics, including plastic bottles, plastic films, plastic foams, plastic fibers, and others. These recycled plastics find application in diverse industries such as packaging, textiles, automotive, building and construction, electrical and electronics, and various other sectors.
The recycled plastics market research report is one of a series of new reports from The Business Research Company that provides recycled plastics market statistics, including global market size, regional shares, competitors with a recycled plastics market share, detailed recycled plastics market segments, market trends and opportunities, and any further data you may need to thrive in the recycled plastics industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The recycled plastics market size has grown steadily in recent years. It will grow from $54.16 billion in 2024 to $56.75 billion in 2025 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to environmental awareness, government regulations, e-waste recycling, consumer demand, supply chain sustainability.
The recycled plastics market size is expected to see strong growth in the next few years. It will grow to $70.02 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to circular economy initiatives, corporate sustainability goals, plastic waste reduction, bioplastics and hybrid materials, sustainable packaging. Major trends in the forecast period include advanced recycling technologies, eco-friendly packaging, plastic-to-fuel conversion, e-waste recycling, sustainable fashion.
The expansion of e-commerce activities is anticipated to drive the growth of the recycled plastics market. E-commerce activities include online buying and selling, digital payments, and various transaction models, fundamentally transforming commerce via the internet. There is a rising adoption of recycled plastics in e-commerce packaging, including shipping boxes, mailers, and protective materials, aimed at reducing waste and lessening the environmental impact of online retail. For example, in November 2023, a report from the U.S. Census Bureau, part of the United States Department of Commerce, indicated that retail e-commerce sales in the United States reached approximately $284.1 billion in the third quarter of 2023, showing a growth of 2.3% compared to the second quarter of 2023. Thus, the swift growth of e-commerce activities is expected to propel the recycled plastics market forward.
The growing demand for packaged food is projected to enhance the growth of the recycled plastics market in the future. Packaged food refers to food products that are processed, prepared, and enclosed in containers or packaging materials prior to being sold to consumers. With increasing environmental concerns regarding plastic waste, the packaged food industry is shifting towards sustainable and recyclable packaging materials, including recycled plastics. For instance, in 2024, SNAC International, a U.S.-based food and beverage organization, reported that the potato chips packaging category reached $8.6 billion, reflecting a 7.7% increase from 2023. Therefore, the rising demand for packaged food is contributing to the expansion of the recycled plastics market.
Technological advancements are a significant trend gaining traction in the recycled plastics market. Leading companies in this sector are concentrating on creating innovative technological solutions to enhance their market position. For example, in February 2024, BASF SE, a Germany-based chemical company, introduced ChemCycling. This initiative converts plastic waste into valuable raw materials through chemical recycling, contributing to sustainability and circular economy initiatives by substituting fossil-based resources in plastic manufacturing.
Strategic collaborations are playing a pivotal role in advancing plastic recycling initiatives in the recycled plastics market. In March 2023, LyondellBasell, a US-based chemical company, partnered with EEW Energy, a German thermal waste treatment company, to extract and recycle plastics from incineration waste streams. This strategic collaboration aims to strengthen plastic recycling efforts.
In April 2022, MOL PLC, a Hungary-based oil and gas company, acquired ReMat Zrt, a Hungarian plastics recycling company. This acquisition positions MOL to provide specialized virgin and recycled solutions, meeting the growing demand for circular materials and supporting MOL's ambition to lead the low-carbon circular economy in Central and Eastern Europe.
Major companies operating in the recycled plastics market include Rethmann SE & Co. KG, Biffa Waste Services Limited, Stericycle Inc., Veolia India Private Limited, Jayplas Limited, KW Plastics, MBA Polymers Inc, Waste Connections Inc., Clean Harbors Inc, Suez India Private Limited, Plastic Recycling Inc., UltrePET LLC, Greenotech Recycling Private Limited., Advanced Environmental Recycling Technologies Inc., Alpek S.A.B. de C.V., B. Schoenberg & Co Inc., B&B Plastics Recycling Inc., Berry Global Inc., CABKA North America Inc., CarbonLite Industries LLC, Custom Polymers Inc., Dart Container Corporation., Delta Plastics of the South LLC, ECO-Cycle Solutions LLC, Emco Industrial Plastics Inc., Envision Plastics LLC, Far Eastern New Century Corporation, Fresh Pak Corporation, GDB International Inc.
Asia-Pacific was the largest region in the recycled plastics market in 2024. North America is expected to be the fastest-growing region in the recycled plastics market share during the forecast period. The regions covered in the recycled plastics market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the recycled plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The recycled plastic market consists of sales of high-density polyethylene (HDPE) and low-density polyethylene (LDPE). Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Recycled Plastics Global Market Report 2025 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 recycled plastics 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.
Where is the largest and fastest growing market for recycled plastics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The recycled plastics 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.