Plastic Recycling Market
Plastic Recycling Market Size, Share, and Trends Analysis Report by Product Type (PE, PP, PVC, PET, Polystyrene, and Others) and By Application (Packaging, Construction, Electricals & Electronics, Automotive, Medical Device, and Others), Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Plastic recycling market is anticipated to grow at a CAGR of 8.8% during the forecast period. Plastic has become one of the major troubles for the environment, and with the rise in consumer awareness, the need for recycling plastic is gaining momentum. The increasing call for artificial textiles will be one of the significant trends in the recycled plastics industry. The growing concern about sustainable as well as green packaging solutions has escalated mainly with the progress in customer awareness about health and the environment which has generated new opportunities for the recycled plastics market.
Also, most of the governments in developed and emerging economies and regulatory bodies are putting a ban on the use of single-use plastics, such as retail shopping bags, strows, and others which is playing a major role in boosting the growth of the plastic recycling market. Further, increased foreign investment in this industry is also driving the global plastic market. However, rising environmental concern associated with the disposal of plastics is hampering the market growth. In addition, struggle in the gathering of plastic wastes and raw materials is also projected to limit the market growth.
Demand for other certain types of plastic-intensive is also expanding these days in various applications, such as respirators and ventilators as well as personal protective equipment (PPE) for healthcare workers, such as masks, gowns, and goggles. As a result of all these factors, the growth is getting hampered in plastic recycling-based solutions.
Segmental Outlook
The global plastic recycling market is segmented based on product type and application. Based on the product, the market is analyzed into PE, PP, PVC, PET, polystyrene, and others. Based on the application, the market is classified into packaging, construction, electrical & electronics, automotive, medical device, and others. Packaging and medical device application segments are expected to register significant demand for plastic during the forecast period due to the outbreak of COVID-19 as the demand for single-use disposal plastics surges. Moreover, the automotive application segment is expected to address substantial demand for plastic over the forecast period. Automakers are focusing to decrease gross vehicle weight to improve fuel efficiency and eventually reduce carbon emissions have promoted the use of plastics as a substitute for metals, including aluminum and steel, for the manufacturing of automotive components.
Regional Outlooks
The global plastic recycling market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can also be analyzed for a particular region or country level as per the requirement.
Global Plastic Recycling Market Growth, by Region 2022-2028
The European Region is Expected to Grow Significantly in the Global Plastic Recycling Market
The European region holds the major share in the plastic recycling market. The packaging industry in Europe uses a considerable number of recycled plastics. Around 4 million tons of recycled plastics are reused again for the development of new products in Europe, as per the PlasticEurope. 24% of this recycled plastic is re-used by the packaging industry. Recycling rates of plastic packaging waste in Europe ranged between 26% and 52% in 2018. This wide range can be explained by differences in collection schemes, available infrastructure, and consumer behavior. In 2018, 17.8 million tons of plastic post-consumer packaging waste were collected in Europe for treatment. Out of this, 5 million tons of plastic is recycled in 2018. 80% of this recycled plastic re-entered the European economy in order to manufacture new products. The rest of the recycled plastic was exported outside Europe to re-enter other regions of the global economies.
Market Players Outlook
The major companies serving the global plastic recycling market include Phoenix Technologies International LLC, Waste Connections Inc., Addonn Polycomponds Pvt. Ltd., Gravita India Ltd., Mohawk Industries Inc., RJM International Inc., and Envision Plastics Industries LLC, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance-
• Plastipak Packaging, Inc. had invested in a new recycling plant in Toledo, Spain in May 2021. This plant started production in early 2022 and produces 20 kilotons of food-grade recycled PET pellets annually to be used in preforms, bottles, and containers.
• MOL Group acquired Aurora, a recycled plastic compounder, headquartered in Neuenstein, with production plants in Baden-Württemberg, Germany in April 2019. This acquisition would assist MOL Group in offering a wide range of high-quality PP, polyamide, and other recycled compounds, in coherence with its existing portfolio of virgin PP and PE.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global plastic recycling market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Plastic Recycling Market by Product Type
4.1.1. Polyethylene (PE)
4.1.2. Polypropylene (PP)
4.1.3. Polyvinyl Chloride (PVC)
4.1.4. Polyethylene Terephthalate (PET)
4.1.5. Polystyrene
4.1.6. Others
4.2. Global Plastic Recycling Market by Application
4.2.1. Packaging
4.2.2. Construction
4.2.3. Electricals & Electronics
4.2.4. Automotive
4.2.5. Medical Device
4.2.6. Others
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Addonn Polycomponds Pvt. Ltd.
6.2. Advanced Environmental Recycling Technologies Inc.
6.3. B. Schoenberg & Co.
6.4. Bingo Industries, Ltd.
6.5. Clean Tech Inc.
6.6. Covanta Energy Corp.
6.7. Custom Polymers, Inc.
6.8. DS Smith Plc
6.9. Eastman Chemical Co.
6.10. Envision Plastics Industries LLC
6.11. Fresh Pak Corp.
6.12. Gravita India, Ltd.
6.13. Kuusakoski Group Oy
6.14. KW Plastics
6.15. MBA Polymers Inc.
6.16. Mohawk Industries, Inc.
6.17. Phoenix Technologies International LLC
6.18. Plastipak Packaging, Inc.
6.19. RJM International, Inc.
6.20. Stericycle, Inc.
6.21. Terracycle US, Inc.
6.22. Ultra Poly Corp.
6.23. Vikoz Enterprises, Inc.
6.24. Waste Connections Inc.
6.25. Waste Management, Inc.
1. GLOBAL PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
2. GLOBAL PE RECYCLING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL PP RECYCLING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL PVC RECYCLING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL PET RECYCLING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL POLYSTYRENE RECYCLING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL OTHER PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
9. GLOBAL PLASTIC RECYCLING FOR PACKAGING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL PLASTIC RECYCLING FOR CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL PLASTIC RECYCLING FOR ELECTRICALS & ELECTRONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL PLASTIC RECYCLING FOR AUTOMOTIVE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL PLASTIC RECYCLING FOR MEDICAL DEVICE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL PLASTIC RECYCLING FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. NORTH AMERICAN PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. NORTH AMERICAN PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
18. NORTH AMERICAN PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
19. EUROPEAN PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. EUROPEAN PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
21. EUROPEAN PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
25. REST OF THE WORLD PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD PLASTIC RECYCLING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. GLOBAL PLASTIC RECYCLING MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
2. GLOBAL PE RECYCLING MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL PP RECYCLING MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL PVC RECYCLING MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL PET RECYCLING MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL POLYSTYRENE RECYCLING MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL OTHER PLASTIC RECYCLING MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL PLASTIC RECYCLING MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
9. GLOBAL PLASTIC RECYCLING FOR PACKAGING MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL PLASTIC RECYCLING FOR CONSTRUCTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL PLASTIC RECYCLING FOR ELECTRICAL & ELECTRONIC MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL PLASTIC RECYCLING FOR AUTOMOTIVE MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL PLASTIC RECYCLING FOR MEDICAL DEVICE MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL PLASTIC RECYCLING FOR OTHERS MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL PLASTIC RECYCLING MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. US PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
17. CANADA PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
18. UK PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
19. FRANCE PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
20. GERMANY PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
22. SPAIN PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF EUROPE PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
24. INDIA PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
25. CHINA PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
26. JAPAN PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF ASIA-PACIFIC PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD PLASTIC RECYCLING MARKET SIZE, 2021-2028 ($ MILLION)
