Market Size, Growth & Valuation (2024-30)

Plastic Recycling Market size is valued at nearly USD 32.9 billion in 2023 & is predicted to reach about USD 59.23 billion by 2030. Along with this, the market is also estimated to grow at a CAGR of about 8.72% during the forecast period, i.e., 2024-30.

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Plastic Recycling Market Structure – Segmentation & Geography

By Source

    • Bottles- Market Size & Forecast 2019-2030, USD Million
    • Films- Market Size & Forecast 2019-2030, USD Million
    • Fibers- Market Size & Forecast 2019-2030, USD Million
    • Foams- Market Size & Forecast 2019-2030, USD Million

By Plastic Type

    • Polyethylene Terephthalate (PET) - Market Size & Forecast 2019-2030, USD Million
    • Polyethylene (PE)- Market Size & Forecast 2019-2030, USD Million
    • Polypropylene (PP)- Market Size & Forecast 2019-2030, USD Million
    • Polyvinyl Chloride (PVC)- Market Size & Forecast 2019-2030, USD Million
    • Polystyrene (PS)- Market Size & Forecast 2019-2030, USD Million

By Type

    • Post-consumer Recyclates- Market Size & Forecast 2019-2030, USD Million
    • Industrial Recyclates- Market Size & Forecast 2019-2030, USD Million

Polyethylene Terephthalate (PET) holds a leading share of the Plastic Recycling Market, and this trend is expected to continue through 2030.

By Process

    • Mechanical Recycling - Market Size & Forecast 2019-2030, USD Million
    • Chemical Recycling - Market Size & Forecast 2019-2030, USD Million

By Application

    • Packaging- Market Size & Forecast 2019-2030, USD Million
    • Building & Construction- Market Size & Forecast 2019-2030, USD Million
    • Textiles- Market Size & Forecast 2019-2030, USD Million
    • Automotive- Market Size & Forecast 2019-2030, USD Million
    • Electrical & Electronics- Market Size & Forecast 2019-2030, USD Million

The Packaging Sector is poised to experience the most rapid market growth during the forecast period, primarily driven by the substantial demand for plastic in various applications, particularly in the packaging of food & beverages, including ready-to-eat and ready-to-serve products.

By Region

    • North America
    • South America
    • Europe
    • The Middle East & Africa
    • Asia-Pacific.

The Asia-Pacific region is poised to hold its dominance in the Global Plastic Recycling Market throughout the forecast period.

Key Growth Challenge (2024-2030)

Lack of Investment to Hinder the Market Expansion – Insufficient investment in plastic recycling infrastructure & technologies represents a critical challenge for the industry, impacting its growth & innovation. Despite the increasing global awareness of the environmental consequences of plastic waste, the allocation of capital to support recycling efforts has not kept pace with the burgeoning demand. This lack of investment hindered the expansion of recycling facilities and the development of cutting-edge technologies necessary to enhance the efficiency & quality of plastic recycling. As a result, the industry faces limitations in its ability to process larger volumes of plastic waste and meet the growing demand for recycled materials.

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Research Methodology

MarkNtel Advisors employs a thorough and iterative research methodology to enhance accuracy in market estimates. Our process combines bottom-up and top-down approaches, focusing on data triangulation for validation. It includes defining research objectives, selecting representative samples, and collecting data through surveys and interviews. Post-collection, we analyze and validate the data using statistical tools, ensuring reliability. Finally, we forecast market trends through predictive modeling, compiling our insights into detailed reports with charts and strategic recommendations for informed decision-making.

Competitive Analysis Framework

The Plastic Recycling industry is moderately fragmented, with key players focusing on technological advancements and strategic partnerships. A detailed competitive analysis helps businesses benchmark against industry leaders and identify growth opportunities.

Leading Plastic Recycling Companies are:

  • Veolia
  • Suez
  • KW Plastic
  • Jayplas
  • Schoenberg & Co.
  • B&B Plastics
  • Green Line Polymers
  • Clear Path Recycling                  
  • Custom Polymers
  • Plastipak Holdings.
  •  

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Key Questions Answered in This Report:

  1. What is the current market size of Plastic Recycling, and what growth rate is projected by 2030?
  2. Which key trends are driving Plastic Recycling market expansion in the next five years?
  3. How does market segmentation impact industry dynamics?
  4. Which geographic regions offer the highest growth potential?
  5. What are the primary challenges hindering Plastic Recycling industry growth?
  6. How do regulatory policies influence market development?
  7. What are the latest technological advancements impacting the sector?
  8. Who are the leading Plastic Recycling companies, and what are their market shares?
  9. What strategies are top competitors adopting to maintain dominance?
  10. What are the emerging niche segments with high growth potential?
  11. How do macroeconomic factors affect market performance?
  12. What are the investment opportunities for new entrants?
  13. How does pricing strategy vary across different market segments?
  14. What are the future innovation trends expected in this industry?

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