Plastic Recycling Market to Grow with a CAGR of 6.97% through 2030
Rising Consumer Awareness and Economic and Policy Incentives
are factors driving the Global Plastic Recycling Market in the forecast period
2026-2030.
According to the
TechSci Research report, “Plastic Recycling Market - Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2030F”, the Global
Plastic Recycling Market stood at USD 51.75 Billion in 2024 and is anticipated
to grow with a CAGR of 6.97% through 2030. Governments across the world are implementing strict
policies to reduce plastic waste, restrict single-use plastics, and promote
recycled content in packaging. For instance, the European Union has set
ambitious targets for recycled plastic content in beverage bottles by 2030.
Extended Producer Responsibility (EPR) schemes, landfill taxes, and bans on
certain plastics are all creating a favorable environment for recycling
companies and pushing industries to adopt recycled plastic materials.
Multinational
companies, particularly in packaging, food & beverage, and consumer goods,
are setting ambitious sustainability goals. Many have pledged to incorporate a
specific percentage of recycled content into their packaging by 2030–2035.
These commitments have significantly boosted demand for recycled plastics such
as rPET and rHDPE, creating long-term procurement opportunities for recyclers.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Global
Plastic Recycling Market”
Advances
in recycling technology are transforming the industry. Mechanical recycling has
become more efficient due to innovations in automated sorting, robotics, and
near-infrared (NIR) systems, which improve quality and reduce contamination.
Additionally, chemical recycling is emerging as a game-changer, enabling the
breakdown of hard-to-recycle plastics into raw monomers, thus widening the
scope of materials that can re-enter the production cycle.
The Global Plastic
Recycling Market is segmented into type, source, method, end user, regional distribution,
and company.
Based
on the end-user, the packaging segment has emerged as the dominating segment in
the Global Plastic Recycling Market in 2024, due to the rapid growth in demand
for sustainable and eco-friendly packaging solutions. With increasing
environmental awareness and regulatory pressure to reduce plastic waste,
companies across industries, particularly food and beverages, e-commerce, and
consumer goods, are shifting toward recycled plastics to meet sustainability
goals. Plastic packaging, including bottles, containers, and films, represents
a significant proportion of overall plastic consumption, creating a vast volume
of post-consumer and post-industrial waste suitable for recycling. Advances in
recycling technologies, such as chemical recycling and improved mechanical
recycling processes, have made it more feasible to convert packaging waste into
high-quality recycled materials. Additionally, consumers are increasingly
favoring brands that use recycled packaging, driving manufacturers to adopt
recycled plastics in their packaging lines. This combination of regulatory
support, technological progress, and consumer preference has firmly positioned
the packaging sector as the leading end-user in the global plastic recycling
market.
The
Asia Pacific is the fastest-growing region in the Global Plastic Recycling
Market in 2024 due to a combination of economic, industrial, and regulatory
factors. Rapid industrialization and urbanization across countries such as
China, India, and Southeast Asian nations have significantly increased plastic
consumption, creating an urgent need for effective waste management solutions.
Governments in the region are implementing stringent regulations and incentives
to promote recycling and reduce plastic pollution, which is driving investment
in recycling infrastructure. Rising environmental awareness among consumers and
businesses is boosting demand for recycled plastics in packaging, automotive,
and construction sectors. Technological advancements in recycling processes,
including chemical recycling and advanced sorting systems, are further
enhancing the efficiency and scalability of operations. Additionally, regional
collaboration with global players and increased foreign investment are
accelerating market growth. These combined factors make Asia Pacific a key hub
for the expansion of the plastic recycling market.
Major companies
operating in the Global Plastic Recycling Market are:
- Veolia Environment S.A.
- Suez SA
- BASF
SE
- B.
Schoenberg & Co., Inc.
- KW
Plastics
- Republic
Services, Inc.
- Waste
Connections
- Clean
Harbors, Inc.
- Covestro
AG
- WM
Intellectual Property Holdings, L.L.C
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“The plastic recycling market faces a
classic systems problem: technical, economic, policy and social constraints
reinforce one another. Solving it requires coordinated action across the value
chain—policymakers to provide stable signals; brands to redesign and buy back
PCR; investors to finance infrastructure; innovators to commercialize advanced
recycling where appropriate; and communities to support better collection.
Absent this multi-pronged push, recycling will remain an important but
insufficient tool in the broader effort to stem plastic pollution and make
materials circular, “said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“Plastic Recycling Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2020-2030F Segmented By Type
(Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP),
Polyvinyl Chloride (PVC), Polystyrene (PS) and Others), By Source (Bottles,
Films, Fibers, Foams, and Others), By End-User (Packaging, Building &
Construction, Textile, Automotive, Electrical & Electronics, and Others),
By Region and Competition ”, has evaluated the future growth
potential of Global Plastic Recycling Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Plastic Recycling Market.
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