[Online Quarterly Update] Plastic Recycling Market stood at 53.1 Million Tonnes in 2021 and is forecast to reach 85.6 Million Tonnes by 2030, growing at a healthy CAGR of 5.51% until 2030. The demand for recycled plastics market is projected to grow at a healthy CAGR globally as it finds application in packaging, automotive, building & construction, electrical and electronics industry, among others. Increasing usage of plastics due to their lightweight nature, durability, and other favorable properties led to high demand for plastics thereby adversely affecting the environment. Growing awareness about the benefits of energy-saving and the growing need to reduce the carbon footprint is likely to play a positive role to increase the demand for the global Plastic Recycling market. Recycled plastic can be processed into polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), etc. Plastics can be recycled by using methods such as landfill, thermal, mechanical, and chemical methods.
Factors such as growing applications of recycled plastics in packaging, electrical & electronics, textile, building& construction, automotive, and other industries in addition to the advantages of using recycled plastics aids in lower energy consumption are likely to fuel the demand for Plastic Recycling in the upcoming years. Increasing government regulation and policies regarding the use of single-use plastics in various countries as well as the surge in investment to develop new technology resulting in higher energy efficiency is expected to foster the market demand.
In 2020, the spread of the COVID-19 virus in the major global economies caused disruption in overall import and export of plastic waste. This had an impact on demand of recycled plastic. However, the rise in the adoption for online shopping surged the demand for various packaging materials for products belonging to personal care, electronic devices, personal protection equipment, among others, thereby the demand for recycled plastics accelerated during the covid period and is anticipated to grow in the upcoming years.
North America followed closely by Asia-pacific is expected to be the largest generators and recyclers of plastic waste. These two regions hold almost 76 percent of the global Plastic Recycling market and are expected to maintain their dominance during the forecast period as well. The introduction of several regulations to promote the use of recycled plastic and the rise in demand for packed and packaged food are the contributing factors expected to strengthen the market growth in the forecast period.
Major players for Plastic Recycling globally include Masotina S.p.A, I.blu - Gruppo iren, Montello S.p.A., The Alba Group., GT Recycling, STF Group, Jayplas., Indorama Ventures Sustainable Solutions LLC, Viridor Polymer Recycling Limited, NPP "Polyplastic, Hubert Eing Kunststoffverwertung GmbH, Monoworld Recycling Ltd., Metro Plastic, Clean Tech U.K. Ltd, OOO "Fantastik Plastik," and Others.
Years considered for this report:
Historical Period: 2015-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2030
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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 globally.
• To analyse and forecast the market size of Plastic Recycling.
• To classify and forecast global Plastic Recycling market based on, end-use and regional distribution.
• To identify drivers and challenges for global Plastic Recycling market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Plastic Recycling market.
• To identify and analyse the profile of leading players involved in the manufacturing of Plastic Recycling.
To extract data for global Plastic Recycling market, primary research surveys were conducted with Plastic Recycling manufacturers, suppliers, distributors, wholesalers and end users. 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 end user segments and projected a positive outlook for Global Plastic Recycling market over the coming years.
ChemAnalyst calculated Plastic Recycling demand globally by analyzing the historical data and demand forecast which was carried out considering imported Plastic Recycling, styrene prices, monomers used for production of Plastic Recycling. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers 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 (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, global Plastic Recycling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
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Market size volume in 2021
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53.1 million tonnes
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Market size volume by 2030
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85.6 million tonnes
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Growth Rate
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CAGR of 5.51% from 2022 to 2030
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Base year for estimation
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2021
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Historic Data
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2015 – 2020
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Forecast period
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2023 – 2030
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Quantitative units
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Demand in tons and CAGR from 2022 to 2030
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Report coverage
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Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
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Segments covered
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1.End Use: (Packaging, Automotive, Building & Construction, Electrical and Electronics)
2.Type: (polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polystyrene (PS) and others)
3.Method: (landfill, thermal, mechanical, and chemical)
4.Sales Channel: Direct Sales and In-direct Sales
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Regional scope
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North America; Europe; Asia Pacific; South America; Middle East & Africa
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Country scope
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United States; Mexico; Canada; China; India; Japan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; UAE, South Africa; Brazil; Egypt, Nigeria
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Key companies profiled
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Masotina S.p.A, I.blu - Gruppo iren, Montello S.p.A., The Alba Group., GT Recycling, STF Group, Jayplas., Indorama Ventures Sustainable Solutions LLC, Viridor Polymer Recycling Limited, NPP "Polyplastic, Hubert Eing Kunststoffverwertung GmbH, Monoworld Recycling Ltd., Metro Plastic, Clean Tech U.K. Ltd, OOO "Fantastik Plastik," and Others.
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Customization scope
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Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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