Recycled Plastics
Recycled Plastics Market by Product (Polyethylene, Polyethylene Terephthalate, Polypropylene), Method (Distributed Recycling, Heat Compression, Pyrolysis), Source, Application - Global Forecast 2024-2030
360iResearch Analyst
SPEAK TO ANALYST? OR FACE-TO-FACE MEETING?
Want to know more about the recycled plastics market or any specific requirement? Ketan helps you find what you're looking for.
DOWNLOAD A FREE PDF
This free PDF includes market data points, ranging from trend analysis to market estimates & forecasts. See for yourself.

[199 Pages Report] The Recycled Plastics Market size was estimated at USD 47.07 billion in 2023 and expected to reach USD 49.00 billion in 2024, at a CAGR 4.41% to reach USD 63.69 billion by 2030.

Recycled Plastics Market
To learn more about this report, request a free PDF copy

Recycled plastics are materials reprocessed from plastic waste, transforming them into usable plastic products or materials. The recycled plastics process involves collecting plastic waste, cleaning and sorting it, breaking it down into plastic flakes or pellets, and then remolding it into new products. The necessity for recycled plastics stems from the urgency to address the environmental issues caused by the overproduction and disposal of virgin plastics. Increasing public consciousness regarding environmental sustainability and reducing plastic pollution drives the recycled plastics market. In addition, initiatives and stringent regulations by governments worldwide mandating the use of recycled materials propel the adoption of recycled plastics. However, contamination levels in plastics and variability in the quantity and quality of recyclable plastic waste present a challenge for the stable production of recycled plastics. Nevertheless, developing sorting techniques that can efficiently differentiate and process various plastics and ongoing investments in new recycled plastic facilities are expected to drive the recycled plastics market in the coming years.

Regional Insights

A growing consumer awareness of the environmental impact of plastic waste characterizes the recycled plastics market in the Americas. The countries in the Americas show commitment to reducing plastic waste through government initiatives and private investments in recycling infrastructure. The European Union (EU) countries promote using recycled plastics due to stringent regulations and policies, such as the EU Plastics Strategy and the Circular Economy Action Plan. These policies have encouraged investments in advanced recycling technologies and created a robust market for recycled plastics. Consumer purchasing behavior in the EU is greatly influenced by sustainability credentials, driving companies to incorporate recycled content into their products. While the Middle East is witnessing increased investments to develop recycling facilities, Africa’s market is still emerging with substantial opportunities, including efforts to formalize waste collection and recycling sectors. The recycled plastics in the Asia-Pacific is growing, with a focus on improving the quality and capacity of domestic recycling facilities. The government push for increased recycling rates and support for the informal recycling sector in emerging economies has promoted the demand for recycled plastic in the Asia-Pacific.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Recycled Plastics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Surging Need to Manage Plastic Pollution Globally
    • Significant Demand for Recycled Plastic Products From End-User Industries
    • Increasing Government Focus Toward Recycled Plastics
  • Market Restraints
    • Issues Concerning Plastic Recycling and Regulations for Plastic Recyclables Trade
  • Market Opportunities
    • Introduction of New Methods and Technology for Recycling Plastic
    • Emerging New Products from Recycled Plastics
  • Market Challenges
    • Environmental and Health Impacts of Recycling Process and Availability of Eco-Friendly Alternatives
Market Segmentation Analysis
  • Product: Growing demand for recycled polyethylene due to widespread use and well-established recycling programs

    Polyethylene, comprising subcategories such as High-density Polyethylene (HDPE) and Low-density Polyethylene (LDPE), is extensively used due to its versatility, durability, and recyclability. The preference for HDPE is generally driven by its strength-to-density ratio, making it ideal for products that require resilience, while LDPE is preferred for its flexibility and malleability. Polyethylene Terephthalate (PET) is predominantly used in the textile and packaging industries, with considerable demand for recycled PET in bottle and container manufacturing. Clear PET is preferred for food-grade containers and fiber applications in textiles. Polypropylene (PP) is a popular choice for consumer goods, automotive components, and industrial uses due to its chemical, heat, and fatigue resistance. The need-based preference for recycled PP often stems from its balance of toughness and flexibility and its application in producing items such as garden equipment, storage bins, and automotive parts. Polystyrene (PS) delivers disposable packaging materials, insulation, and other products that require rigid plastic. Polyvinyl chloride is widely used in construction for piping, windows, roofing, and healthcare for medical devices. Recycled PVC's preference is partially due to its longevity and resistance to environmental degradation.

  • Application: Wide applications of recycled plastics in automotive industry

    The automotive industry increasingly utilizes recycled plastics to satisfy environmental targets and reduce carbon footprints. Recycled plastics offer cost benefits and help manufacturers meet sustainability goals. Recycled plastics in the automotive industry are preferred for their durability, heat resistance, and potential to decrease vehicle weight. Recycled plastics in the building and construction industry serve insulation, pipes, and flooring applications. Builders prioritize thermal resistance, stability, and the potential for cost reduction while using recycled plastics. Using recycled plastics in electrical and electronic equipment involves enclosures, insulating materials, and various components. Packaging remains the major sector for recycled plastic use, with applications in containers, wrapping films, and bottles. The increased consumer awareness about sustainable practices and governmental regulations to reduce plastic waste have amplified the demand for recycled packaging materials. The textile industry uses recycled plastic fibers for clothing, home furnishings, and industrial uses. Environmental concerns and consumer demand for sustainable fashion have accelerated the adoption of recycled plastics in textiles. Textile applications require recycled plastics that provide durability, versatility in design, and texture suitability.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Recycled Plastics Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Recycled Plastics Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Recycled Plastics Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Recycled Plastics Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Recycled Plastics Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Recycled Plastics Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Recycled Plastics Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Recycled Plastics Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Recycled Plastics Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Recycled Plastics Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Recycled Plastics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Recycled Plastics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Samyang Corporation Acquires Global Eco-Friendly Certification for Recycled Plastic Fishing Net Materials

    Samyang Corporation made a significant leap in sustainability by securing the prestigious "ECV Ocean Plastic (2809-3)" certification from UL Solutions for their innovative "TRIECO 4D" range. This certification applauds Samyang's commitment to environmental stewardship by rigorously validating the attributes of their ocean-recycled plastics, ensuring they are sourced and processed without greenwashing. [Published On: 2023-12-14]

  • DeepTech Recycling Secures Investment for Plastic Recycling Technology

    DeepTech Recycling, based in the UK, recently secured a GBR 1 million investment to enhance strategies for more sustainable plastic waste management. Leveraging patented technology, DeepTech transforms difficult-to-recycle plastics, that would otherwise end up in landfills or incinerators, into oil usable by the petrochemical industry to create virgin-quality plastics. This initiative supports the transition towards a circular economy by enabling the production of new plastics from recycled materials. [Published On: 2023-12-05]

  • SI Group Launches New Brand for Plastics Recycling

    SI Group, an innovator in performance additives and chemical solutions, announced the launch of its EVERCYCLE additives platform at the K 2022 trade fair in Düsseldorf, aligning with the company's commitment to sustainability and circular economy principles. This platform introduces a suite of products designed to enhance plastics recycling processes and final recycled product quality. [Published On: 2022-10-20]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Recycled Plastics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Recycled Plastics Market, highlighting leading vendors and their innovative profiles. These include Ace Plastics Recycling, Advanced Drainage Systems, Inc., Alpek S.A.B. de C.V., Altium Packaging LP, B & B Plastics Recycling, Inc., B. Schoenberg & Co., Inc., BASF SE, Berry Global Group, Inc., Biffa PLC, Cabka Group GmbH, Covestro AG, Custom Polymers, Inc., Fresh Pak Corporation, Imerys S.A., Indorama Ventures Public Company Limited, Jayplas, K K Asia (HK) Ltd., KW Plastics, Let's Recycle It Ltd, MBA Polymers Inc., Phoenix Technologies International, LLC, Plastic Recycling, Inc., RDB Plastics GmbH, Revolution Company, Shakti Plastic Industries, Stericycle Inc., The Dow Chemical Company, Ultra-Poly Corporation, UltrePET, LLC, Veolia Environnement S.A., and Waste Management, Inc..

Recycled Plastics Market - Global Forecast 2024-2030
To learn more about this report, request a free PDF copy
Market Segmentation & Coverage

This research report categorizes the Recycled Plastics Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Product
    • Polyethylene
    • Polyethylene Terephthalate
    • Polypropylene
    • Polystyrene
    • Polyvinyl Chloride
  • Method
    • Distributed Recycling
    • Heat Compression
    • Pyrolysis
    • Thermal Decomposition
  • Source
    • Fibers
    • Plastic Bottles
    • Plastic Films
    • Polymer Foam
    • Rigid Plastic and Foam
  • Application
    • Automotive
    • Building & Construction
    • Electrical & Electronics
    • Packaging
    • Textiles

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Recycled Plastics Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Recycled Plastics Market, by Product
  7. Recycled Plastics Market, by Method
  8. Recycled Plastics Market, by Source
  9. Recycled Plastics Market, by Application
  10. Americas Recycled Plastics Market
  11. Asia-Pacific Recycled Plastics Market
  12. Europe, Middle East & Africa Recycled Plastics Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 390]
  17. List of Companies Mentioned [Total: 31]
Innovations in Recycling Technology: The Future of Recycled Plastics
October 27, 2023
BLOG
Innovations in Recycling Technology: The Future of Recycled Plastics
Plastic waste has become a growing concern worldwide as it pollutes our environment, endangering marine and wildlife. Recycling has been one of the solutions to tackle this problem, but has faced certain challenges in the past, including inefficient sorting and collection methods. However, with new methods and technologies, recycling plastics has become more efficient and effective. This blog explores the future of recycled plastics and the innovations in recycling technology.

Advanced Sorting Technology:

Improper sorting of plastics has been a major obstacle in the recycling process. Mixed plastics are undesirable and expensive, so recycling facilities often reject them. Advanced sorting technology, such as AI and machine learning, can help identify and sort plastics more efficiently, ensuring high-quality recycled material. With advanced sorting technology, it is now possible to recycle a wide variety of plastics that were once considered difficult.

Chemical Recycling:

Chemical recycling is an innovative process that breaks down plastic waste into its building blocks, which can be used to create new products. The process is more flexible than mechanical recycling because it can break down challenging plastics. This technology is still in the early stages, but it shows significant promise, as it can reduce the need for landfills and the amount of plastic waste in our oceans.

Innovative Materials:

There are also several innovations in materials science to create easily recycled or biodegradable plastics. Research is ongoing to create sustainable plastics with the same qualities as traditional plastics but less environmentally harmful. One example is food packaging that is edible and biodegradable or recycling plastics with bacteria that can be used to break them down.

3D Printing Technology:

Another way to reduce plastic waste is through 3D printing technology. With the ability to print objects on demand, 3D printing can reduce the need for traditional manufacturing, which generates more waste and carbon emissions. In addition, 3D printing can use recycled plastics to produce new products, reducing the need for virgin materials.

Partnerships and Collaboration:

Recycling is a collective effort that involves everyone, from manufacturers to consumers, as each plays an essential part in ensuring the efficient and effective recycling of plastics. Partnerships between companies and governments can also facilitate progress toward creating a more sustainable environment. Collaborations and alliances between recycling facilities can create economies of scale, making recycling more affordable and efficient.

The future of recycled plastics looks bright with technological advances and innovative approaches to reduce plastic waste. Recycling is crucial to reducing plastic waste and preserving the environment, and with new initiatives, it is becoming more effective than ever before. The world is moving towards a sustainable future, and it's essential to invest in innovative technologies that can aid us in our journey towards creating a greener planet. We can create a safer, cleaner, and more sustainable future by continuing to progress in recycling technology and partnering with others to promote sustainable practices.

Frequently Asked Questions
  1. How big is the Recycled Plastics Market?
    Ans. The Global Recycled Plastics Market size was estimated at USD 47.07 billion in 2023 and expected to reach USD 49.00 billion in 2024.
  2. What is the Recycled Plastics Market growth?
    Ans. The Global Recycled Plastics Market to grow USD 63.69 billion by 2030, at a CAGR of 4.41%
  3. When do I get the report?
    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
  4. In what format does this report get delivered to me?
    Ans. We will send you an email with login credentials to access the report. You will also be able to download the pdf and excel.
  5. How long has 360iResearch been around?
    Ans. We are approaching our 7th anniversary in 2024!
  6. What if I have a question about your reports?
    Ans. Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available and included in every purchase to help our customers find the research they need-when they need it.
  7. Can I share this report with my team?
    Ans. Absolutely yes, with the purchase of additional user licenses.
  8. Can I use your research in my presentation?
    Ans. Absolutely yes, so long as the 360iResearch cited correctly.