The global recycled plastics market is anticipated to grow at a significant CAGR during the forecast period. Plastic recycling means to reprocess plastic waste into new and useful products while reducing dependence on landfills, conserving resources and protecting the environment from plastic pollution and greenhouse gas emissions. The major factor driving the growth of the global recycled plastics market during the forecast is increasing plastic consumption for the production of lightweight components for several industries such as building & construction, automotive, electrical & electronics, among others. Additionally, the market is also growing owing to their negative impact on the environment due to plastic disposal. The growing use of plastic has led to a huge amount of plastic waste which poses risk to the environment. Hence, the process of recycling plastic waste can curb this risk which in turn is driving the growth of the global recycled plastics market during the forecast period. Furthermore, emerging recycling technologies may also boost the growth of the market in the coming years.
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The COVID-19 pandemic had a negative impact on the global recycled plastics market. During COVID-19, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns which resulted in a substantial decline weakening of the operations of several organizations which has a negative result on the recycling operations. However, due to the social distancing norms by government and work-from-home policies, there was substantial growth in at-home deliveries that increased the packaging rate. Additionally, due to the rise in online shopping of electrical & electronics, personal care products, and personal protective equipment, such as gloves and face masks which in turn boosted the growth of the recycled plastic in these applications.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Recycled Plastics Market by Source
- Bottles
- Films
- Fibers
- Foams
- Others
Global Recycled Plastics Market by Type
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Polystyrene (PS)
- Others
Global Recycled Plastics Market by End-User
- Packaging
- Building & Construction
- Textile
- Automotive
- Electrical & Electronics
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- INDORAMA VENTURES PUBLIC LTD.
- VEOLIA
- JAYPLAS
- ALPEK
- BIFFA
- REPUBLIC SERVICES
- STERICYCLE
- FAR EASTERN NEW CENTURY CORP.
- KW PLASTICS
- SCHOENBERG & CO.
- B&B PLASTICS
- REMONDIS SE & CO. KG
- CLEAR PATH RECYCLING
- CUSTOM POLYMERS
- PLASTIPAK HOLDINGS
- WASTE CONNECTIONS, INC.
- MBA POLYMERS
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 Recycled Plastics 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.
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