Global Recycled Plastics Market Poised for Significant Growth

The Global Recycled Plastics Market is experiencing robust expansion, driven by increasing environmental awareness and stringent regulations promoting sustainability. Valued at approximately $51.70 billion in 2023, the market is projected to reach around $114.8 billion by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period.

Competitive Landscape

The recycled plastics industry is characterized by a mix of global and regional players striving to enhance their market positions. Leading companies such as Indorama Ventures, Veolia, Suez, and Jayplas are actively engaging in mergers and acquisitions, strategic alliances, joint ventures, and partnerships to expand their market shares.The Middle East and Africa are advancing their recycling initiatives through technological innovations and public-private partnerships. For instance, the Abu Dhabi National Oil Company (Adnoc) is nearing a significant acquisition of Covestro.

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Regional Demand Highlights

The Asia Pacific region dominates the recycled plastics market, accounting for over 45% of the global revenue share in 2023. This dominance is attributed to rapid industrialization, urbanization, and increasing environmental concerns in countries like China, Japan, and South Korea.The Asia Pacific region is experiencing significant developments in the recycled plastics industry. In August 2024, Swedish investment firm EQT agreed to acquire KJ Environment and affiliated companies to establish a waste treatment platform in South Korea, focusing on plastic recycling and waste-to-energy. This acquisition, valued at over 1 trillion won ($733 million), aims to enhance the region's recycling capacity and efficiency.

by Product

Bottles
Films
Fibers
Foams
Others

by Plastic Type

Polyethylene Terephthalate (PET)
Polyethylene (PE)
Polyvinyl Chloride (PVC)
Polypropylene (PP)
Polystyrene (PS)
Others

by Application

Packaging
Building & Construction
Textile
Automotive
Electrical & Electronics
Others

Over the course of the projected period, the packaging segment is anticipated to expand at a CAGR of 8.2%. There are a number of legal, social, economic, environmental, and technical barriers to using recycled materials in package production. A few examples are rising recycling costs, a lack of raw materials, the development of technology to separate different components, and an increase in lawsuits. One of the difficulties faced by operators who want to use secondary raw materials is uncertainty over their quality.

by Process

Mechanical
Chemical

by Type

Post-Consumer Recyclate
Industrial Recyclate

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Key Market Participants:

North America
1. Clear Path Recycling
2. Plastipak
3. Republic Services
4. Stericycle
5. B. Schoenberg
6. Waste Connections
7. MBA Polymers

Europe
8. Suez Environment
9. Jayplas
10. Biffa
11. Remondis
12. Plastic Recycling Amsterdam
13. Resiclo

APAC
14. Indorama Ventures
15. Far Eastern New Century
16. Asia Plastic Recycling Holdings
17. Jeplan
18. KK Plastic Waste Management
19. Srichakra Polyplast

Middle East and Africa
20. Saudi Investment Recycling
21. Tadweer Group
22. Renie
23. Kaltani
24. Pakam

South America
25. Lar Plásticos

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