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Recycled Plastic Market Size to Touch US$ 77 Billion By 2030

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According to Precedence Research, The recycled plastic market size garnered US$ 48.2 billion in 2020 and is expected to generate US$ 77 billion by 2030, manifesting a CAGR of 4.8% from 2021 to 2030.  The report contains 150+ pages with detailed analysis.

The rising awareness regarding the deteriorating environment health and rising government initiative to curb the use of plastics in order to reduce landfills and plastic waste accumulation is significantly driving the growth of the global recycled plastic market across the globe.

Further, the rapid growth of the e-commerce platforms across the globe has boosted the use of recycled plastic for use in the packaging of products. The construction industry uses recycled plastic to produce fence, windows, insulation, and various other products. Therefore, rapidly growing building and construction industry in the developing markets is expected to contribute significantly towards the growth of the global recycled plastic market in the upcoming years. Recycled plastic has wider variety of usage across various industries. It is used to manufacture footwear, bottles, medical devices, cartons, and many more products. The rising application of recycled plastic across various end-use industries is driving the global recycled plastic market.

The base year for the study has been considered 2021, the historic year 2019 and 2020, the forecast period considered is from 2021 to 2030. The recycled plastic market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

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Key Companies & Market Share Insights

The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers, novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the major players in the global recycled plastic market include:

  • REMONDIS SE & Co. KG
  • Shell International B.V.
  • Waste Connections
  • CLEAN HARBORS, INC.
  • Covestro AG
  • Biffa
  • Stericycle
  • Republic Services, Inc.
  • WM Intellectual Property Holdings, L.L.C.
  • Veolia

Recycled Plastic Market Scope

This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, the Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes the market by key players and various segment. This report also studies global market prominence, competitive landscape, market share, growth rates market dynamics such as drivers, restraints and opportunities, and distributors and sales channels.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

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Recycled Plastic Market Size 2021 to 2030

Crucial factors accountable for market growth are:

  • Increasing government initiatives to adopt the use of recycled plastic
  • Rising investments on plastic recycling
  • Rising demand from the various industries
  • Rapidly growing e-commerce industry
  • Rapidly growing construction industry
  • Increasing demand from the automotive industry

Report Coverage of the Recycled Plastic Market

Report Coverage Details
Market Size in 2020 USD 48.2 billion
Growth rate from 2021 to 2030 CAGR of 4.8%
Base Year 2021
Largest Market Asia Pacific

Market Dynamics

Drivers – The recycled plastic market is driven by the rising government initiatives to reduce the plastic wastes. Further, rising investment by various players from different industries in using recycled plastic to manufacture their products is driving the global recycled plastic market.

Restraints – Irregular supply of the raw material is a major issue faced by the industry. The recycled plastic manufacturing depends on the proper collection of the plastic wastes. Only around 15% of plastic wastes are being used in the recycled plastic industry and rest are still unutilized.

Opportunities – Rising initiatives by brands like Coca Cola, Reebok, Adidas, and various others to invest in the production of recycled plastic to use it in the production of their products. This may provide lucrative growth opportunities to the market players.

Challenges – China has banned the imports of scrap. China is the largest user of scrap. This is a major challenge faced by the recycled plastic industry. Such bans on the import of scrap may hinder the market growth.

Report Highlights

  • Based on the source, plastic bottle segment dominated the market in 2020. This is due to the excess volume of wastes generated from the plastic bottles. These plastic bottles are extensively used in the production of recycled plastic to be used in various industries.
  • Based on the product, polypropylene is estimated to be the most opportunistic segment during the forecast period. Polypropylene is widely used across various industries for packaging, labelling, automotive components, medical devices, and various other products. The rapidly growing e-commerce and construction industry is expected to boost the growth of the segment during the forecast period.
  • Based on the application, packaging segment dominated the market in 2020. This is attributed to the extensive usage of recycled plastic in the packaging of consumer goods, food and beverages, electronic, and various other products. Moreover, the huge volume of sales in the e-commerce industry is boosting the consumption of recycled plastic for the packaging of goods.The rising popularity of purchasing electronics such as laptops, Mobile phones, and tablets through e-commerce has exponentially fostered the demand for the recycled plastic as a packaging material across the globe.

Regional Snapshots

Asia Pacific is the largest and the fastest growing market for the recycled plastic. Asia Pacific is characterized by huge population, availability of cheap labor, industry-friendly government policies, rising disposable income of the consumers, and rising urbanization and industrialization. All these factors makes this region a lucrative market for the various industry players. The growth of various industries in this region is a significant factor propelling the growth of the recycled plastic market. Industries such as automotive, footwear, construction, and packaging are extensively using recycled plastic for various applications that is expected to drive the growth of the market in this region. Further, rising government initiative and policies to attract FDIs and foster industrial development in this region is a key factor that boosted the usage of recycled plastic in Asia Pacific.

The Europe is the second largest market. The growing demand for the electric vehicles in Europe and North America is expected to boost the growth of the automotive industry, which in turn would foster the growth of the global recycled plastic market.

Recent Developments

The various developmental strategies like new product launches with latest and innovative features fosters market growth and offers lucrative growth opportunities to the market players.

Market Segments Covered

By Source

  • Plastic Bottles
  • Plastic Films
  • Polymer Foam
  • Others

By Product

  • Polyethylene
  • Polyethylene Terephthalate
  • Polypropylene
  • Polyvinyl Chloride
  • Polystyrene
  • Others

By Application

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

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Research Objective

  • To provide a comprehensive analysis of the recycled plastic industry and its sub-segments in the global market, thereby providing a detailed structure of the industry
  • To provide detailed insights into factors driving and restraining the growth of this global market
  • To provide a distribution chain analysis/value chain for the this market
  • To estimate the market size of the global recycled plastic market where 2019 would be the historical period, 2020 shall be the base year, and 2020 to 2027 will be the forecast period for the study
  • To provide strategic profiling of key companies (manufacturers and distributors) present across the globe, and comprehensively analyze their competitiveness/competitive landscape in this market
  • To analyze the global market in four main geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World
  • To provide country-wise market value analysis for various segments of the recycled plastic

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Recycled Plastic Market 

5.1. COVID-19 Landscape: Recycled Plastic Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Recycled Plastic Market, By Product

8.1. Recycled Plastic Market, by Product Type, 2021-2030

8.1.1. Polyethylene

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Polyethylene Terephthalate

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Polypropylene

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Polyvinyl Chloride

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Polystyrene

8.1.5.1. Market Revenue and Forecast (2019-2030)

8.1.6. Others

8.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Recycled Plastic Market, By Application

9.1. Recycled Plastic Market, by Application, 2021-2030

9.1.1. Packaging

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Building & Construction

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Textiles

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Electronics

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Automotive

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Others

9.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Recycled Plastic Market, By Source 

10.1. Recycled Plastic Market, by Source, 2021-2030

10.1.1. Plastic Bottles

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Plastic Films

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. Polymer Foam

10.1.3.1. Market Revenue and Forecast (2019-2030)

10.1.4. Others

10.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Recycled Plastic Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.3. Market Revenue and Forecast, by Source (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.4.3. Market Revenue and Forecast, by Source (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.5.3. Market Revenue and Forecast, by Source (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.3. Market Revenue and Forecast, by Source (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.4.3. Market Revenue and Forecast, by Source (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.5.3. Market Revenue and Forecast, by Source (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.6.3. Market Revenue and Forecast, by Source (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.7.3. Market Revenue and Forecast, by Source (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.3. Market Revenue and Forecast, by Source (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.4.3. Market Revenue and Forecast, by Source (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.5.3. Market Revenue and Forecast, by Source (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.6.3. Market Revenue and Forecast, by Source (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.7.3. Market Revenue and Forecast, by Source (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.3. Market Revenue and Forecast, by Source (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.4.3. Market Revenue and Forecast, by Source (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.5.3. Market Revenue and Forecast, by Source (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.6.3. Market Revenue and Forecast, by Source (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.7.3. Market Revenue and Forecast, by Source (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.3. Market Revenue and Forecast, by Source (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.4.3. Market Revenue and Forecast, by Source (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.5.3. Market Revenue and Forecast, by Source (2019-2030)

Chapter 12. Company Profiles

12.1. REMONDIS SE & Co. KG

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Shell International B.V.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Waste Connections

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. CLEAN HARBORS, INC.

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Covestro AG

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Biffa

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Stericycle

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Republic Services, Inc.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. WM Intellectual Property Holdings, L.L.C.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Veolia

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Why Buy this Report?

The purpose of Precedence Research’s recycled plastic market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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