Global Plastic Recycling Market
Global Plastic Recycling Market was valued at US$ 42,130.00 Mn in 2020, estimated to reach US$ 56,200.00 Mn in 2027, with a CAGR of 3.54% from 2021-2027.
Plastic recycling is defined as the process of recovering various types of plastic materials to repurpose them into new goods. In most cases, an object constructed of recycled plastic cannot be recycled again. Plastic goes through five phases before being recycled, such as, sorting, washing, shredding, shredding and extruding. Plastic recycling is primarily accomplished through two processes like heat compression & monomerization. This process contributes to the conservation of nonrenewable fossil fuels, the reduction of energy consumption in the creation of new plastic, the reduction of solid waste going to landfills, and the reduction 000of greenhouse gas emissions such as carbon dioxide into the atmosphere.
Market Drivers
The demand for recycled plastics is advancing in various industries including packaging, food and beverages, and consumer goods. In the food and beverage industry, the consumption of recyclable polymer is increasing due to the high demand for food-safe packaging material. These materials can effectively replace conventional plastics as a barrier between the food products & the environmental factors, which ultimately increases the growth of global plastic recycling market over the forecast period.
Besides food & beverage packaging, recycled plastics are used in the packaging of products like toys, fashion accessories, and sports equipment, which helps in increasing the product’s durability. Further, these plastics have found increased demand in the packaging of products like surfactants., soaps, shampoos, and other personal care due to its non-reactive nature.
Market Restraints
Virgin Plastics are used in several applications, including the packaging of food to produce automotive components. They have significant advantage over their recycled alternatives in terms of quality. Although, the regulatory groups have developed mandates to increase the use of PCR plastics in the packaging products, the manufactures are doubtful towards using them due to chances of impurities.
Also, the ban on import of certain waste plastic scraps to China & irregular collection of the waste plastics for its reprocessing are some of the factors challenging the growth of the global plastic recycling market globally.
Market Segmentation
Global Plastic Recycling Market is segmented into sources such as plastic bottles, plastic films, synthetic fibers, rigid plastics & foams, and others (auto-parts, electrical goods, furniture and others). By Source segment, Plastic Bottles segment accounted for the largest market share of about 3.60 % in 2020, Plastic bottles are the major sources of recycled products. Plastic bottles are used in various applications across various industries in the packaging of oils, water, pharmaceuticals, and carbonated drinks.
By Type market is segmented into Polyethylene Terephthalate (PET), Polyethylene (PE) – LPDE & HDPE, Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyamide (PA), and Others (Polycarbonate, Acrylonitrile-butadiene Styrene and other plastics under SPI).
Further, market is segmented into Recycling Method such as Thermal Decomposition, Heat Compression, Distributed Recycling, Pyrolysis, and Others. By Recycling Method, Heat Compression segment accounted for the largest market share of about 3.67 % in 2020.
Also, the market is segmented into application such as Packaging (Bottles, Containers, Bags & Films, Strapping, Others), Building & Construction (Carpets & Rugs, Lumber, Pipe, Furnishings, Others), Textiles, Automotive (Batteries, Others), Electrical & Electronics, and Others (Agriculture, Aerospace and other industries).
Regional Analysis
The Global Plastic Recycling Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The market in Asia Pacific is projected to dominate the Plastic Recycling market owing the increase in demand for recycled plastics in various industries including packaging, food and beverages, and consumer goods.
Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2027 The market is driven by the adoption of a circular economy to reduce the carbon footprint associated with the conventional method of plastic production by increasing plastic recycling in the region.
Key Players
Veolia, Suez, KW Plastics, Jayplas, B. Schoenberg & Co., B&B Plastics, Green Line Polymers, Clear Path Recycling, Custom Polymers, Plastipak Holdings, etc.
Key Developments
Dec 2021- Veolia becomes a strategic partner of Saudi Arabia in the ecological transformation. The National Water Company awarded Veolia the Management Contract for water and wastewater services in the capital Riyadh and 22 outlying municipalities.
Dec 2020 - SUEZ is launching a 100% digital event “Demos on Demand”, dedicated to the new technologies developed by the Group to support a green and inclusive economic recovery.
Market Taxonomy
By Source
By Type
By Recycling Method
By Application
By Region
Key Questions Addressed by the Report
Global Plastic Recycling Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Plastic Recycling Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Plastic Recycling Market, By Source
5.1 Y-o-Y Growth Comparison, By Source
5.2 Global Plastic Recycling Market Share Analysis, By Source
5.3 Global Plastic Recycling Market Size and Forecast, By Source
5.3.1 Plastic Bottles
5.3.2. Plastic Films
5.3.3. Synthetic Fibers
5.3.4. Rigid Plastics & Foams
5.3.5. Others (auto-parts, electrical goods, furniture and others)
6 Global Plastic Recycling Market, By Type
6.1 Y-o-Y Growth Comparison, By Type
6.2 Global Plastic Recycling Market Share Analysis, By Type
6.3 Global Plastic Recycling Market Size and Forecast, By Type
6.3.1 Polyethylene Terephthalate (PET)
6.3.2. Polyethylene (PE) – LPDE & HDPE
6.3.3. Polypropylene (PP)
6.3.4. Polyvinyl Chloride (PVC)
6.3.5. Polystyrene (PS)
6.3.6. Polyamide (PA)
6.3.7. Others (Polycarbonate, Acrylonitrile-butadiene Styrene and other plastics under SPI)
7 Global Plastic Recycling Market, By Recycling Method
7.1 Y-o-Y Growth Comparison, By Recycling Method
7.2 Global Plastic Recycling Market Share Analysis, By Recycling Method
7.3 Global Plastic Recycling Market Size and Forecast, By Recycling Method
7.3.1 Thermal Decomposition
7.3.2. Heat Compression
7.3.3. Distributed Recycling
7.3.4. Pyrolysis
7.3.5. Others
8 Global Plastic Recycling Market, By Application
8.1 Y-o-Y Growth Comparison, By Application
8.2 Global Plastic Recycling Market Share Analysis, By Application
8.3 Global Plastic Recycling Market Size and Forecast, By Application
8.3.1. Packaging (Bottles, Containers, Bags & Films, Strapping, Others)
8.3.2 Building & Construction (Carpets & Rugs, Lumber, Pipe, Furnishings, Others)
8.3.3. Textiles
8.3.4. Automotive (Batteries, Others)
8.3.5. Electrical & Electronics
8.3.6. Others (Agriculture, Aerospace and other industries)
9 Global Plastic Recycling Market, By Region
9.1 Global Plastic Recycling Market Share Analysis, By Region
9.2 Global Plastic Recycling Market Share Analysis, By Region
9.3 Global Plastic Recycling Market Size and Forecast, By Region
10 North America Plastic Recycling Analysis and Forecast (2021 – 2027)
10.1 Introduction
10.2 North America Plastic Recycling Product Market Share Analysis, By Source
10.3 North America Plastic Recycling Product Market Size and Forecast, By Type
10.4 North America Plastic Recycling Product Market Size and Forecast, By Recycling Method
10.5 North America Plastic Recycling Product Market Size and Forecast, By Application
10.6 North America Plastic Recycling Product Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Plastic Recycling Market Analysis and Forecast (2021 – 2027)
11.1 Introduction
11.2 Europe Plastic Recycling Product Market Share Analysis, By Source
11.3 Europe Plastic Recycling Product Market Size and Forecast, By Type
11.4 Europe Plastic Recycling Product Market Size and Forecast, By Recycling Method
11.5 Europe Plastic Recycling Product Market Size and Forecast, By Application
11.6 Europe Plastic Recycling Product Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.64. Rest of Europe
12 Asia Pacific Plastic Recycling Market Analysis and Forecast (2021 – 2027)
12.1 Introduction
12.2 Asia Pacific Plastic Recycling Product Market Share Analysis, By Source
12.3 Asia Pacific Plastic Recycling Product Market Size and Forecast, By Type
12.4 Asia Pacific Plastic Recycling Product Market Size and Forecast, By Recycling Method
12.5 Asia Pacific Plastic Recycling Product Market Size and Forecast, By Application
12.6 Asia Pacific Plastic Recycling Product Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4. Rest of Asia Pacific
13 Latin America Plastic Recycling Market Analysis and Forecast (2021 – 2027)
13.1 Introduction
13.2 Latin America Plastic Recycling Product Market Share Analysis, By Source
13.3 Latin America Plastic Recycling Product Market Size and Forecast, By Type
13.4 Latin America Plastic Recycling Product Market Size and Forecast, By Recycling Method
13.5 Latin America Plastic Recycling Product Market Size and Forecast, By Application
13.6 Latin America Plastic Recycling Product Market Size and Forecast, By Country
13.6.2. Rest of Latin America
14 Middle East Plastic Recycling Market Analysis and Forecast (2021 – 2027)
14.1 Introduction
14.2 Middle East Plastic Recycling Product Market Share Analysis, By Source
14.3 Middle East Plastic Recycling Product Market Size and Forecast, By Type
14.4 Middle East Plastic Recycling Product Market Size and Forecast, By Recycling Method
14.5 Middle East Plastic Recycling Product Market Size and Forecast, By Application
14.6 Middle East Plastic Recycling Product Market Size and Forecast, By Country
14.6.2. UAE
14.6.3. Egypt
14.6.4 Kuwait
14.6.5. South Africa
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Veolia
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 Suez
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 KW Plastics
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Jayplas
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 B. Schoenberg & Co.
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 B&B Plastics
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Green Line Polymers
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Clear Path Recycling
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 Custom Polymers
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 Plastipak Holdings
16.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies
