Global Post-Consumer Recycled Plastics Market Size Expands at Significant CAGR of almost 5% to Surpass USD 93.2 Billion by 2030

Published | 02 April 2024

Global Post-Consumer Recycled Plastics Market is expanding rapidly due to increasing environmental awareness, stringent regulations on plastic waste management, demand for sustainable packaging, and corporate sustainability initiatives.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Post-Consumer Recycled Plastics Market size by value at USD 67.11 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Post-Consumer Recycled Plastics Market size to expand at a CAGR of 4.92% reaching a value of USD 93.21 billion by 2030. The Global Post-Consumer Recycled Plastics Market is poised for remarkable growth driven by multiple factors. The surge in lightweight plastic usage across industries like construction, automotive, and food processing is a significant catalyst. Moreover, the escalating demand for packaging, fueled by the COVID-19 pandemic's online shopping boom, underscores the need for recycled plastics. China's stringent recycling regulations are reshaping the industry landscape, prompting recyclers to relocate to Southeast Asia. Economic growth in countries like Malaysia and Indonesia further propels demand, especially in automotive and construction. Emerging markets such as Brazil, China, India, and Mexico are also pivotal, as their construction booms fuel demand for recycled plastics in various applications, including safety gear. Companies like Placon, Talco Plastics, and SUEZ Group are primed to capitalize on these burgeoning opportunities.

By volume, BlueWeave estimated the Global Post-Consumer Recycled Plastics Market size at 90.33 million tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Post-Consumer Recycled Plastics Market size to expand at a CAGR of 4.34% reaching a volume of 135.21 million tons by 2030. The Global Post-Consumer Recycled Plastics Market is driven by various factors. Firstly, increasing environmental awareness and stringent regulations worldwide propel the demand for sustainable solutions, boosting the market for recycled plastics. Secondly, the rise of circular economy initiatives and corporate sustainability goals drive investment in recycling infrastructure and technologies. Additionally, consumer preferences for eco-friendly products and packaging drive demand for post-consumer recycled plastics across industries. Recent events, like international sustainability summits and collaborations between governments and industries, highlight the importance of recycling, creating opportunities for innovation and market expansion. Despite advancements, challenges such as infrastructure limitations underscore the need for strategic partnerships and investments in recycling infrastructure globally.

Opportunity – Surge in demand for plastic waste management

The surge in demand for plastic waste management from emerging economies is driving the expansion of the Global Post-Consumer Recycled Plastics Market. As these economies experience rapid industrialization and urbanization, the need for sustainable waste management solutions becomes paramount. Governments and businesses alike are increasingly prioritizing environmentally friendly practices, spurring investments in recycling infrastructure and technologies. This demand shift towards recycled plastics not only addresses environmental concerns but also fosters a circular economy model, reducing reliance on virgin plastics. Consequently, the market witnesses robust growth fueled by emerging economies' commitment to sustainability.

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Impact of Escalating Geopolitical Tensions on Global Post-Consumer Recycled Plastics Market    

Escalating geopolitical tensions can impede the collection, sorting, and processing of plastic waste, thus reducing the availability of raw materials for recycling. The pandemic-induced disruptions in global trade and economic activity have further affected the demand for post-consumer recycled (PCR) plastics.

Nevertheless, the PCR plastics market is anticipated to witness growth amidst these challenges. Nations and sectors prioritizing sustainability and circular economy practices are expected to fuel demand for PCR plastics as a sustainable substitute for virgin plastics. Rising awareness about the environmental consequences of plastic waste and initiatives aimed at reducing and recycling plastic waste are poised to bolster market expansion. Despite hurdles, the emphasis on eco-friendly solutions and waste management strategies presents opportunities for growth in the Global PCR Plastics Market.

Global Post-Consumer Recycled Plastics Market    

Segmental Coverage

Global Post-Consumer Recycled Plastics Market – By Polymer Type

Based on polymer type, Global Post-Consumer Recycled Plastics Market is divided into Polyethylene Terephthalate, High-Density Polyethylene, Low-Density Polyethylene, Polypropylene, Polyvinyl Chloride, and Other (including Polyurethane and Polystyrene) segments. The Polyethylene Terephthalate (PET) segment is the largest in the Global Post-Consumer Recycled Plastics Market, due to its widespread use in various industries, such as packaging, textiles, and automotive. Its recyclability and versatility make it a preferred choice for manufacturers aiming to reduce environmental impact. While other segments like High-Density Polyethylene (HDPE) and Polypropylene (PP) also contribute substantially, PET stands out due to its extensive application range and consumer demand for eco-friendly products. Despite competition from other materials, PET maintains its dominance, driving the growth of the post-consumer recycled plastics market worldwide.

Global Post-Consumer Recycled Plastics Market – By Processing Type

Based on processing type, Global Post-Consumer Recycled Plastics Market is divided into Chemical Process, Mechanical Process, and Biological Process segments. The mechanical process segment is the highest in the Global Post-Consumer Recycled Plastics Market. Mechanical recycling involves sorting, cleaning, and processing plastics without altering their chemical structure. The method is widely adopted due to its efficiency in handling various types of plastics and its lower energy consumption compared to chemical processes. Mechanical recycling contributes significantly to the circular economy by diverting plastic waste from landfills and reducing the demand for virgin plastics. Its scalability and cost-effectiveness make it a prominent choice in the recycling industry, driving its dominance in the market landscape.

Competitive Landscape

Global Post-Consumer Recycled Plastics Market is fiercely competitive. Major companies in the market include Placon, SUEZ Group, Talco Plastics, Cabka Group GmbH, Berry Global Inc., EFS Plastics, REMONDIS SE & Co. KG, Stericycle, Inc., WM Intellectual Property Holdings, LLC, Denton Plastic, Covetsro AG, Fresh Pak Corp, Dow Corporate, Clean Harbors, Waste Connections, AlphaPoly, Mondi Group, Envision Plastics, Sealed Air, Resource Recycling, Inc, SKS Bottle & Packaging, Inc., Veolia Environnement SA, and Seventh Generation Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Global Post-Consumer Recycled Plastics Market.

Don’t miss the business opportunity Global Post-Consumer Recycled Plastics Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Post-Consumer Recycled Plastics Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in Global Post-Consumer Recycled Plastics Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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