Recycled Plastics Industry Overview
The global recycled plastics market size was estimated at USD 51.70 billion in 2023 and is projected to grow at a CAGR of 9.5% from 2024 to 2030.
Increasing plastic consumption in the production of lightweight components which are used in various industries including building construction, automotive, electrical electronics, and various other industries are expected to propel the market growth over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Recycled Plastics Market
The rise in online purchases of electrical electronics, personal care products and personal protective equipment products such as gloves, face masks, and various products is driving the demand for recycled plastics used in different types of packaging sources.
According to the Verge, the demand for affordable consumer electronic products such as laptops, mobile, modems and various others have increased majorly through e-commerce websites. These rise in demand for consumer electronic have propelled the demand of recycled plastics in electrical electronics and packaging source which is expected to boost the demand over the forecast period.
The growth of the construction industry in emerging economies such as Brazil, China, India, and Mexico is expected to drive the demand for recycled plastics in the manufacturing of components such as insulation, fixtures, structural lumber, windows, fences, and various others over the forecast period. The growth of recycled plastic in building construction market can be attributed to increased foreign investment in these countries construction industry, as a result of easing FDI norms and requirements for redevelopment of public and industrial infrastructure.
Browse through Grand View Research's Plastics, Polymers Resins Industry Research Reports.
- The global epoxy curing agents market size was estimated at USD 3,542.52 million in 2023 and is projected to grow at a CAGR of 6.8% from 2024 to 2030.
- The global thermally conductive plastics market size was estimated at USD 156.10 million in 2023 and expected to grow at a CAGR of 12.6% from 2024 to 2030.
Recycled Plastics Market Segmentation
Grand View Research has segmented the global recycled plastics market report based on product, source, application, and region:
Recycled Plastics Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Polyethylene
- Polyethylene Terephthalate
- Polypropylene
- Polyvinyl Chloride
- Polystyrene
- Others Products
Recycled Plastics Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Plastic Bottles
- Plastic Films
- Polymer Foam
- Others Sources
Recycled Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Building Construction
- Packaging
- Electrical Electronics
- Textiles
- Automotive
- Others Applications
Recycled Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Southeast Asia
- Malaysia
- Indonesia
- Thailand
- Central South America
- Brazil
- Middle East Africa
- Saudi Arabia
Key Companies profiled:
- EMONDIS SE Co. KG
- Biffa
- Stericycle
- Republic Services, Inc.
- WM Intellectual Property Holdings, L.L.C.
- Veolia
- Shell International B.V.
- Waste Connections
- CLEAN HARBORS, INC.
- Covetsro AG
Recent Developments
- In January 2024, Republic Services, Inc. announced the opening of a new Salt River recycling center. The new facility will play a vital role in improving recycling rates in the Valley as it has more modern technology and higher capacity than its predecessor. It is a 51,000-square-foot recycling center in the Salt River Pima-Maricopa Indian Community, designed to manage recyclables from approximately 1.4 million residents and over 2,000 businesses. The facility can process up to 40 tons of recyclables or eight truckloads per hour. This includes cardboard, paper, jugs, plastic bottles, metal food and beverage cans, and glass bottles and jars
- In September 2023, WMhas recently announced the opening of a new recycling facility in Cleveland, spanning over a vast area of 100,000 square feet. The facility is anticipated to process nearly 420 tons of recyclable materials daily. This project is part of WM's previously declared enterprise-wide initiative to invest over USD 1 billion in recycling infrastructure, which includes around 40 automated or planned new recycling facilities. The new facilities are expected to add 2.8 million incremental tons managed by 2026
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