H1 2023: In January 2023, revalyu, a leading chemical PET recycling firm purchased 43 acres of property in the USA to construct a PET recycling facility in Statesboro, Georgia, the USA. The facility will be able add a post-consumer plastic bottle recycling capability 74.25 thousand tonnes per annum. The commissioning of the plant is planned for the year 2024. The plant will be able to recycle and convert more than 37.125 thousand tonnes per annum of spent PET (polyester) trash into sustainable PET polymers (esters) and rPET chips after the first phase is finished. In June 2023, Polystyvert, a Canadian chemical company announced about the development of the first full-scale, commercial plant for the production of recycled polystyrene in the Greater Montreal area. This facility will recycle 9 thousand tonnes of highly contaminated post-consumer and post-industrial polystyrene waste annually. The investment was of about USD 40 million. The facility will be able to recycle polystyrene equal to 15% of the annual polystyrene waste buried in Quebec. It is significant to highlight the involvement of two blue-chip partners from the polystyrene sector who will help finance the plant among the partners. This recycled plastic allows for a decrease in greenhouse gas emissions of up to 90% while exhibiting the same physical and chemical properties as virgin resin.
The North America Plastic Recycling market had a volume of approximately 5.3 million tonnes in 2022 and is anticipated to grow at a healthy CAGR of 5.01% by 2030.
There is a large demand for plastic recycling in North America as a result of the growing effort to decrease plastic waste due to environmental concerns. Several states in the USA provide tax rebates to encourage the recycling of plastic. Due to the fact that recycling plastic also saves energy compared to producing virgin plastic, many businesses are investing in recycling technology. The need for plastic recycling is expected to rise as a result of the expanding use of plastics in the packaging, automotive, electrical, and electronics industries as well as worries about landfill pollution. North America's Plastic Recycling market is anticipated to reach approximately 8.6 million tonnes in 2030.
Based on type, the North America Plastic Recycling market is divided into Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others. Among these, Polyethylene Terepthalate (PET) is the major type and captured nearly 43% of the market in 2022. PET is a recyclable and lightweight material that is perfect for the packaging sector. The increasing preference for high-quality packaging in the pharmaceutical and food and beverage industries will continue to keep its usage prominent in the forecast period. Recycled PET is likely to witness a considerable increase throughout the projected period because PET bottles make recycling easy.
Based on end-use, the North America Plastic Recycling market is segregated into Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others. However, Packaging industry is dominating the North America Plastic Recycling market. This industry consumed approximately 41% of the Plastic Recycling market in 2022. Plastics like Polypropylene (PP), Polyurethane (PUR), Polyvinyl Chloride (PVC or Vinyl), and Acrylonitrile Butadiene Styrene (ABS) are used in the automotive sector. PP is used to make car bumpers, petrol cans and even carpet fibres in car's interior flooring.
Some of the major players in North America Plastic Recycling market are Indorama Ventures Sustainable Solutions LLC, Indorama Ventures Sustainable Solutions Fontana, Evergreen Plastics, Inc, Alcamare, S. de R.L. de C.V., Nexcycle Plastics, Revolution Sustainable Materials, LLC, Nam Polymers, Norwich Plastics, Indorama Ventures EcoMex, S de RL de CV, Canada Risheng Plastic Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Plastic Recycling which covers production, demand and supply of Plastic Recycling market in North America.
• To analyse and forecast the market size of Plastic Recycling in North America.
• To classify and forecast North America Plastic Recycling market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Plastic Recycling market in North America.
To extract data for North America Plastic Recycling market, primary research surveys were conducted with Plastic Recycling manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for North America Plastic Recycling market over the coming years.
ChemAnalyst calculated Plastic Recycling demand in North America by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Plastic Recycling to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Plastic Recycling manufacturers and other stakeholders
• Organizations, forums and alliances related to Plastic Recycling distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Plastic Recycling manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, North America Plastic Recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
7.6 million tonnes
Market size Volume by 2032
11.2 million tonnes
Growth Rate
CAGR of 5.01% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Manufacturing Process.
Segments covered
By type: Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others
By End-Use: (Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Germany, France, Spain, Italy, the UK, Russia & Rest of North America
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Plastic Recycling market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Plastic Recycling.
3. Capacity By Location
To better understand the regional supply of Plastic Recycling by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Plastic Recycling by the leading players and forecast how it will grow in the coming years.
6. Demand by Type
Learn about the various types- Polyethylene Terepthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others, and their demands. It will allow you to choose which type to concentrate on when designing your strategy.
7. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Packaging, Building and Construction, Textile, Automotive, Electrical and Electronics, and Others) are creating a market and the forecast for the growth of the Plastic Recycling market.
8. Demand by Region
Analyzing the change in demand of BOPP Film in different regions, i.e., Germany, France, Spain, Italy, the UK, Russia & Rest of North America, that can direct you in mapping the regional demand.
9. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Plastic Recycling. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
10. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Plastic Recycling.
11. Company Share
Figure out what proportion of the market share of Plastic Recycling is currently held by leading players across North America.
12. Manufacturing Process
Discover insights into the intricate manufacturing process of Plastic Recycling.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the anticipated market growth rate of North America Plastic Recycling market for the forecast period of 2023- 2030?
Ans:
The North America Plastic Recycling market is anticipated to grow at a healthy CAGR of 5.01% for the forecast period of 2023- 2030.
Q2.
Which industry is dominating the North America Plastic Recycling market?
Ans:
As of 2022, Packaging industry is dominating the Plastic Recycling market in North America with a market share of nearly 40%.
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