Plastic Recycling Market

Global Plastic Recycling Market Analysis and Opportunity Assessment by Product Type, Application, Region, and Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 44,282.0 Mn between 2022 and 2032

Category: Chemicals & Materials

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ID: CVC-00314

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Format: PDF+Excel Dataset

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Published Date: October 2022

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Pages: 263

Global Plastic Recycling Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Plastic Recycling Market was worth US$ 24,756.9 Mn and is expected to grow at a CAGR of 10.8% over the forecast period. While the historical CAGR is 9.7%, the market is expected to hit US$ 69,038.9 Mn by 2032 end.

Recycled plastic is scrap or waste plastic that has been turned into practical items. Recycling these materials is the best way to lessen the burden of polymers in the environment because most of the polymer materials used globally are non-biodegradable.

Increased public awareness has encouraged local governments and manufacturers to develop products made from recycled materials. The implementation of policies to reduce environmental impacts can have a significant impact on the recycling market. The efficiency of post-consumer packaging recycling could be significantly increased if the variety of materials were reorganised.

The Governmental actions in Brazil, China, India, and Europe are anticipated to encourage recycling. For instance, starting in 2021, the European Union intends to outlaw single-use polymer items. Additionally, the movement in end-use sectors, particularly packaging and consumer goods, favoring recyclable or sustainable materials, will fuel market expansion. Further, there will be an enormous increase due to the invention and development of items employing post-consumer recycled (PCR) plastics, such as packaging bottles, films, containers, and flatware.

Market Dynamic

INCREASING DEMAND FROM  PACKAGING INDUSTRY TO DRIVE MARKET

The need for recycled materials is rising in many sectors, including food and beverage and consumer products. Due to the strong demand for packaging materials that are safe for use in food and beverages, the consumption of recyclable polymers is rising in this sector of the economy. As a barrier between food goods and environmental variables, these materials can efficiently replace traditional plastics, expanding the market. An excellent material that is highly preferred in the production of bottles for water and beverage packaging is recycled polyethylene terephthalate.

PREFERENCE FOR VIRGIN PLASTICS OVER THEIR RECYCLED ALTERNATIVES TO RESTRICT MARKET

The production of automotive components and food packaging are just two uses for virgin plastics. In terms of quality, they outperform their recycled counterparts by a wide margin. Although regulatory organizations have created directives to promote, the producers are hesitant to utilize PCR plastics in the packaging of their products because of the possibility of contaminants.

Furthermore, virgin polymers are favored in applications that call for particular chemical and additive combinations. Additionally, the pandemic led to a drop in crude oil prices, which decreased the cost of virgin plastics relative to recycled alternatives. The elements above are anticipated to limit market expansion during the study period.

Plastic Recycling Market

Market Segments Covered in Report

By Product Type:

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

By Application:

  • Building & Construction
  • Packaging
  • Electrical & Electronics
  • Textiles
  • Automotive
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why does Polyethylene Terephthalate cover the largest segment?

The largest segment is Polyethylene Terephthalate, widely used in food packaging and bottling. Given that it is safe, light, strong, and easily recyclable, it is in high demand for use in food and beverage packaging. The restrictions imposed by numerous countries worldwide have made bottled water more expensive, and beverage makers have switched from using virgin PET to recycled PET for making packaging bottles. Additionally, recycled PET is used in the production of carpet, furniture, and fibers, which is anticipated to drive market growth.

Why does the Packaging Segment expect to be the profitable segment throughout the projection period?

Due to the significant demand for recycled PET in the production of bottles and other packaging goods like films and wraps, the packaging segment is anticipated to continue being the largest throughout the projection period. The fact that these polymers are typically less expensive than virgin plastics increases demand for the production of packaging products.

However, these plastics are also widely used in the packaging of food. Manufacturers of food look for materials that are not only suitable for handling food but also are affordable and sustainable. Recycled polymer satisfies these requirements, and manufacturers of food products have a high demand for recycled polymers.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

  • Due to China and India being the top two consumers of recycled plastic, the market in the Asia Pacific now has a market share of 8%. It is anticipated to continue to grow over the projected period. Numerous bottled water producers in the area lead to widespread plastic bottle consumption.
  • There is a high demand for building goods in Europe, and the automotive business is expanding significantly. Regulations proposed by the European Union in 2021 to dramatically lower the use of single-use plastics in the area will boost industry growth.

Competition Analysis

Businesses compete in the market because of the technology used to recycle plastic trash. Major firms are expanding their plastic recycling and R&D facilities and developing their infrastructure, and they are also looking for ways to vertically integrate throughout the value chain. Such measures assist companies in meeting the rising demand for recycled plastics on a global scale, maintaining competitive effectiveness, enhancing operations planning, developing cutting-edge products and technology, lowering recycling costs, and growing their customer base.

Some of the key developments that have taken place in the Protective Coatings Market include:

  • In May 2021, New recycling facilities were purchased by Plastipak Holdings for their construction site in Toledo, Spain. Beginning in early 2022, this facility will start producing food-grade recycled PET (rPET) pellets from PET flake for use in preforms, bottles, and containers. This facility will annually generate 20 kilotons of food-grade shells.
  • In May 2020, Coca-Cola began using just 100% rPET packaging for all its tiny plastic bottles sold in Norway and the Netherlands. This will help the company’s global World Without Waste initiative. Additionally, the business intends to switch to 100% rPET in 2021 for its large plastic bottles.

A list of some of the key suppliers present in the market are:

  • REMONDIS SE & Co. KG
  • Biffa
  • Stericycle
  • Republic Services, Inc.
  • WM Intellectual Property Holdings, LLC
  • Veolia
  • Shell International BV
  • Waste Connections
  • Clean Harbors, Inc.
  • Coventry AG

Report Coverage and Highlights

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.
Research ScopeDetails
Forecast period2022-2032
Historical data available for2017-2021
Market analysisUSD Million for Value and Tons for Volume, and CAGR from 2022 to 2030
Key regions coveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries coveredUS, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments coveredBy Product Type, Application, and Region
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request

Frequently Asked Questions

In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 10.8%.

The need for recycled materials is rising in many sectors, including food and beverage and consumer products.

Key Global Plastic Recycling Market players are REMONDIS SE & Co. KG, Biffa, Stericycle, Republic Services, Inc., WM Intellectual Property Holdings, LLC, Veolia, Shell International BV, and Waste Connections.

The pandemic led to a drop in crude oil prices, which decreased the cost of virgin plastics relative to recycled alternatives. The elements above are anticipated to limit market expansion during the study period.

Asia Pacific Region is expected to account for the largest market revenue share in the Global Plastic Recycling market.

  1. Executive Summary
    • Global Market Snapshot
    • Key Success Factors
    • Strategic Analysis and Recommendations
  2. Market Overview
    • Market Taxonomy
    • Market Definitions
  1. Research Methodology
    • Preliminary Investigation & Research Design
    • Secondary Research & Primary Research
    • Data Analysis & Econometric Modelling
    • Expert Data Validation
  1. Key Emerging Trends Analysis
    • Supply-Side Trends
    • Demand-Side Trends
  1. Global Plastic Recycling Market Value (US$ Mn) and Volume (Tons) Analysis
    • Global Market Value (US$ Mn) Analysis, 2017 – 2032
    • Incremental $ Opportunity Index, 2022-2032
    • Global Market Volume (Tons) Analysis, 2017 – 2032
  2. Global Plastic Recycling Market Pricing Analysis
    • Regional Level Pricing Analysis and Forecast
      • Manufacturers Level Pricing
      • Distributor Level Pricing
    • Global Pricing Analysis Benchmark
    • Cost Breakdown Analysis
  1. Cross-Sectional Analysis
    • Cross Analysis of Application W.R.T. Product Product Type
  2. Supply Vs. Demand Analysis
    • Regional Supply Vs. Demand Gap Assessment
    • Top Producing Countries Analysis
  1. Market Background
    • Macroeconomic Factors
    • Forecast Factors
    • Market Dynamics
      • Driver
      • Restraint
      • Opportunity
    • Supply Chain Analysis
      • List Raw Material Suppliers
      • List of Manufacturers
      • List of Distributors
      • List of End-Users
      • Average Profitability Margin Analysis
    • Covid-19 Impact Assessment
      • Economy/Cluster Projections
      • Covid-19 Economic Assessment
      • Potential Impact on Target Market
      • Recovery Scenario
      • Regulatory Framework
        • Regulations of Key Countries
        • Potential Impact of Regulations
      • Porter’s Five Forces Analysis
  1. Global Plastic Recycling Market 2017 – 2032 By Product Type
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Product Type [Value (US$ Mn) and Volume (Tons) Analysis]
      • Polyethylene (PE)
      • Polyethylene Terephthalate (PET)
      • Polypropylene (PP)
      • Polyvinyl Chloride (PVC)
      • Polystyrene (PS)
      • Others
    • Market Attractiveness Analysis By Product Type
  1. GlobalPlastic Recycling Market 2017 – 2032 By Application
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
      • Building & Construction
      • Packaging
      • Electrical & Electronics
      • Textiles
      • Automotive
      • Others
    • Market Attractiveness Analysis by Application
  1. GlobalPlastic Recycling Market Historical Analysis 2017 – 2021 and Forecast 2023 – 2032by Region
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Middle East
      • Africa
    • Market Attractiveness Analysis by Region
  1. North America Protective Coatings Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • U.S.
        • Canada
      • By Product Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Product Type
      • By Application
  1. Latin America Protective Coatings Market Historical Analysis 2017 – 2021 and Forecast 2023 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
      • By Product Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Product Type
      • By Application
  1. Europe Protective Coatings Market Historical Analysis 2017 – 2021 and Forecast 2023 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Germany
        • Italy
        • France
        • UK
        • Spain
        • Netherlands
        • Norway
        • Russia
        • Rest of Europe
      • By Product Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Product Type
      • By Application
  1. Asia-Pacific Protective Coatings Market Historical Analysis 2017 – 2021 and Forecast 2023 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • China
        • Japan
        • South Korea
        • India
        • Indonesia
        • Thailand
        • Vietnam
        • Australia & New Zealand
        • Rest of Asia-Pacific
      • By Product Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Product Type
      • By Application
  1. Middle East Protective Coatings Market Historical Analysis 2017 – 2021 and Forecast 2023 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Saudi Arabia
        • Turkey
        • U.A.E.
        • Rest of the Middle East
      • By Product Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Product Type
      • By Application
  1. Africa Protective Coatings Market Historical Analysis 2017 – 2021 and Forecast 2023 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • South Africa
        • Nigeria
        • Egypt
        • Rest of Africa
      • By Product Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Product Type
      • By Application
  1. Competition Analysis
    • Tier Structure Breakdown
    • Market Share Analysis
    • Production Capacity Analysis
    • Company Footprint Analysis
      • Product Footprint of Players
      • Regional Footprint of Players
    • Channel Footprint of Players
    • Competition Dashboard
  1. Company Profiles
    • Remondis Se & Co. KG
      • Company Overview
      • Product & Financial Portfolio
      • Manufacturing Facilities
      • Recent Developments
      • SWOT Analysis
      • Strategy Overview
    • Biffa
    • Stericycle
    • Republic Services, Inc.
    • WM Intellectual Property Holdings, LLC
    • Veolia
    • Shell International BV
    • Waste Connections
    • Clean Harbors, Inc.
    • Covetsro AG
  1. Assumptions and Acronyms

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