Plastic Recycling

Global Plastic Recycling Market to Reach US$86.7 Billion by 2030

The global market for Plastic Recycling estimated at US$56.3 Billion in the year 2024, is expected to reach US$86.7 Billion by 2030, growing at a CAGR of 7.5% over the analysis period 2024-2030. PET, one of the segments analyzed in the report, is expected to record a 7.9% CAGR and reach US$23.8 Billion by the end of the analysis period. Growth in the HDPE segment is estimated at 7.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$5.0 Billion While China is Forecast to Grow at 8.2% CAGR

The Plastic Recycling market in the U.S. is estimated at US$5.0 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$33.9 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.6% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR.

Global Plastic Recycling Market - Key Drivers and Trends Summarized

Plastic recycling is a critical component of the global effort to reduce plastic waste and mitigate environmental impact. This process involves collecting, sorting, and reprocessing used plastic materials into new products, thereby conserving resources and reducing landfill waste. Plastic recycling encompasses various methods, including mechanical recycling, chemical recycling, and energy recovery. Mechanical recycling involves physically processing plastics into new forms, while chemical recycling breaks down plastics into their chemical components for reuse. Energy recovery converts plastic waste into energy through combustion. These methods contribute to a circular economy by extending the life cycle of plastic materials and reducing the need for virgin plastic production.

Technological advancements have significantly improved the efficiency and effectiveness of plastic recycling. Innovations in sorting and processing technologies, such as advanced optical sorting, automated separation, and chemical depolymerization, have enhanced the quality and yield of recycled plastics. The development of biodegradable and bio-based plastics is also addressing the limitations of traditional plastic recycling, offering more sustainable alternatives. Additionally, the integration of digital technologies, such as blockchain and IoT, is improving traceability and transparency in the recycling supply chain. These advancements are not only increasing the recycling rate but also ensuring the production of high-quality recycled plastics suitable for various applications, from packaging to automotive parts.

The growth in the plastic recycling market is driven by several factors. The increasing awareness of environmental issues and the need to reduce plastic pollution are major drivers, encouraging both consumers and industries to adopt recycling practices. Regulatory mandates and government initiatives promoting recycling and the use of recycled materials are also boosting market growth. Technological advancements in recycling processes and the development of advanced recycling technologies are enhancing the efficiency and quality of plastic recycling, driving adoption. The growing demand for sustainable packaging solutions in various industries, including food and beverage, personal care, and consumer goods, is further propelling market growth. Additionally, the rise of the circular economy concept and the increasing focus on resource conservation are encouraging the use of recycled plastics. The expansion of the recycling infrastructure and the increasing investment in recycling facilities are also contributing to market growth. Finally, the collaboration between stakeholders, including governments, industries, and environmental organizations, is fostering innovation and promoting the adoption of plastic recycling, creating new opportunities in the market.

 

SCOPE OF STUDY:

The report analyzes the Plastic Recycling market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Material (PET, HDPE, LDPE, PVC, PP, PS, Other Materials); Application (Packaging, Automotive, Construction, Textile, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 130 Featured) -

• Advanced Drainage Systems, Inc.
• B & B Plastics Recycling, Inc.
• B. Schoenberg & Co., Inc.
• Custom Polymers, Inc.
• Envision Plastics
• Green-O-Tech India
• Jayplas
• Kuusakoski Oy
• KW Plastics
• MBA Polymers, Inc.
• NAM Polymers Inc.
• Norwich Plastics
• PARC Corporation
• Plastic Recycling Inc.
• Plastipak Holdings, Inc.
• Seraphim Plastics LLC
• Ultra Poly Corporation
• Veolia Environnement S.A.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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