Recycled Plastics Industry 2030: Sustainable Solutions for a Greener Future
Recycled Plastics Industry | Forecast 2030
Recycled Plastics Industry Data Book - Recycled Polyethylene, Recycled Polyethylene Terephthalate (rPET), Recycled Polypropylene, Recycled Polyvinyl Chloride (PVC) and Recycled Polystyrene Market
The economic value generated by the recycled plastics industry was estimated at approximately USD 47.61 Billion in 2022. This economic output is an amalgamation of businesses involved in the raw material suppliers, manufacturers of recycled plastic-based packaging products, distribution & supply, and application of recycled plastics.
Recycled Plastics Industry Data Book Coverage Snapshot
Markets Covered
- Recycled Plastics Industry USD 47.61 billion in 2022
- Recycled Polyethylene Market Size USD 12.37 billion in 2022 5.2% CAGR (2023-2030)
- Recycled Polyethylene Terephthalate Market Size USD 5.20 billion in 2022 5.1% CAGR (2023-2030)
- Recycled Polypropylene Market Size USD 11.11 billion in 2022 5.6% CAGR (2023-2030)
- Recycled Polyvinyl Chloride Market Size USD 6.25 billion in 2022 4.7% CAGR (2023-2030)
- Recycled Polystyrene Market Size USD 4.48 billion in 2022 4.2% CAGR (2023-2030)
- Other Recycled Plastics Market Size USD 8.20 billion in 2022 4.0% CAGR (2023-2030)
Access the Global Recycled Plastics Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Recycled Polyethylene Market Growth and Trends
Polyethylene includes high-density polyethylene (HDPE) and low-density polyethylene (LDPE). Polyethylene dominated the recycled plastics market in 2022 and is estimated to maintain its dominance over the forecast period. This can be attributed to the rising consumption of polyethylene for producing reusable bags, agriculture films, toys, milk bottles, housewares, containers, shampoo bottles, trays, food packaging films, and toys. Furthermore, properties such as excellent solvent resistance, high tensile strength, flexibility, toughness, and relative transparency drive the demand for polyethylene in the recycled plastics market. Recycled HDPE is mainly used to manufacture milk cartons, cutting boards, garbage bins, pens, plastics, fencing, tables, lumber, and bottles.
Recycled Polypropylene Market Growth and Trends
Polypropylene offers excellent chemical and mechanical properties, which make it suitable for use in various industries such as automotive, packaging & labeling, and medical devices. Recycled polypropylene is also used to manufacture battery cases, signal lights, battery cables, brooms and brushes, ice scrapers, kitchen utensils, plastic lumber, outdoor rugs, and oil funnels.
Polypropylene is one of the most formulated plastics across the globe. Properties of polypropylene, such as low moisture & vapor transmission, excellent optical clarity in biaxially oriented films & stretch blow molded containers, and chemical and electrical resistance, are further propelling its demand in the recycled plastics market. Moreover, it manufactures garden rakes, storage bins, shipping pallets, and trays.
Order your copy of the Free Sample of “Recycled Plastics Industry Data Book - Recycled Polyethylene, Recycled Polyethylene Terephthalate (rPET), Recycled Polypropylene, Recycled Polyvinyl Chloride (PVC) and Recycled Polystyrene Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030, published by Grand View Research
Recycled Polyethylene Terephthalate Market Growth & Trends
The global recycled polyethylene terephthalate market size is anticipated to reach USD 18.7 billion by 2030, registering a CAGR of 8.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the rising sustainability measures undertaken by food & beverage and packaging companies. The growing efforts for a circular economy by end-users and increasing adoption of recycled plastics in the packaging, textiles, and other end-use industries are anticipated to drive the demand for recycled polyethylene terephthalate (PET) during the forecast period. Furthermore, recycled polyethylene terephthalate (rPET) is used for developing both, colored and clear (white/non-colored) products.
However, clear rPET products are the most sought after by both, recyclers and end-use industries owing to their lower costs than colored rPET products. Colored rPET is preferred by packaging product and bottle manufacturers as it gives them brand identity and ensures the development of products with improved aesthetics. However, clear rPET products are the most sought after by both, recyclers and end-use industries owing to their lower costs than colored rPET products. Furthermore, the ban on landfills has been introduced in several developed nations in North America and Europe, such as Austria, Germany, the Netherlands, France, Denmark, Belgium, and several states in the U.S. and Canadian provinces.
Go through the table of content of Recycled Plastics Industry Data Book to get a better understanding of the Coverage & Scope of the study
Recycled Polyvinyl Chloride (PVC) Market Growth and Trends
Sorting and separation are significant challenges in the polyvinyl chloride recycling process. Different formulations composed of various additives are used to produce PVC plastic products, and separating different types of plastics, fillers, and stabilized flame retardants takes work. Furthermore, contamination of other waste streams, such as polyethylene terephthalate, polystyrene, and polyethylene with polyvinyl chloride, carries a significant risk of releasing hydrochloric acid (HCI) at elevated temperatures. These issues associated with PVC recycling affect its demand in the recycled plastics market.
Polyvinyl chloride is found in rigid bottles, clamshells, flexible medical & bedding bags, shrink wrap, wire/cable insulation-coated fabrics, and flooring. Recycled polyvinyl chloride is used to manufacture windows, pipes, floor tiles & mats, gutters, electrical boxes, traffic cones, garden hoses, fencing, films & sheets, cassette trays, electrical boxes, mobile home skirting, and binders, among others.
Competitive Insights
The global recycled plastics market is fragmented in nature with the presence of various players, such as Biffa, Placon, Clear Path Recycling LLC, Verdeco Recycling, Inc., Indorama Ventures Public Ltd., Zhejiang Anshun Pettechs Fibre Co., Ltd., PolyQuest, Evergreen Plastics, Inc., Phoenix Technologies, and Libolon, as well as various medium and small regional and country-level players, operating in different parts of the world. The global players face intense competition from each other and regional players with strong distribution networks and good knowledge about suppliers and regulations.
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