Enjoy complimentary customisation on priority with our Enterprise License!
The post-consumer recycled plastics market size is forecast to increase by USD 5.50 billion at a CAGR of 5.89% between 2023 and 2028. The market is experiencing significant growth, driven by the increased demand for lightweight components in various industries. This trend is particularly prominent in sectors such as electronics, cosmetics, and personal care items, where the use of recycled plastics in packaging helps reduce carbon footprint and enhance sustainability. Additionally, the rise in awareness about using recycled plastics, fueled by social media campaigns, is further boosting market growth. However, the low recycling rate of plastics remains a major challenge, limiting the supply of raw materials for the recycling sector. In industries such as vehicles and construction, the use of recycled plastics for insulation and fixtures offers significant potential for market expansion. Online sales, a key driver in many industries, also contribute to the growth of the market, as consumers increasingly seek eco-friendly alternatives.
Post-consumer recycled plastics have emerged as a viable solution for waste reduction and sustainability in various industries. Recycling technologies play a crucial role in converting single-use plastic waste into recycled content for use in packaging, textiles, and other sectors. The circular economy is driving the demand for sustainable materials, leading to increased focus on plastic waste management and collection. Plastic waste management faces challenges such as segregation and recycling quotas. However, advances in recycling technologies enable the production of high-quality post-consumer recycled plastics from bottles, single-use plastic waste, and other sources. These recycled plastics, including polypropylene (PP), polyethylene (PE), and polyethylene terephthalate (PET), are used extensively in packaging, electronics, cosmetics, personal care items, personal protective equipment, and even in lightweight components for vehicles.
Further, the plastic recycling sector continues to evolve, with growing applications in various industries. Recycled plastics help reduce carbon footprints, address waste management challenges, and contribute to a more sustainable future. Online sales and e-commerce sectors are also adopting post-consumer recycled plastics to meet consumer demand for sustainable products.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The PET segment is estimated to witness significant growth during the forecast period. Post-Consumer Recycled Plastics (PCR) market encompasses the use of Polypropylene (PP), Polyethylene (PE), and Polyethylene Terephthalate (PET) derived from post-consumer waste. Among these polymer types, PET held the largest market share in 2023. This segment is projected to expand at a faster rate than the overall market during the forecast period. PET is a recyclable polymer produced by the reaction of purified terephthalic acid and ethylene glycol, which are then polymerized to create new PET. It is a polyester resin used in manufacturing various products, including textiles and packaging. Post-consumer PET waste is generated when consumers discard empty PET packaging, such as bottles and containers. The textiles industry and packaging companies are significant contributors to the demand for PCR plastics, aligning with the circular economy's principles and reducing the reliance on single-use plastics.
Get a glance at the market share of various segments Request Free Sample
The PET segment accounted for USD 7.50 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The Association of Plastic Recyclers, a leading industry organization in North America, represents over 94% of the post-consumer plastics recycling processing capacity in the region. In collaboration with The Recycling Partnership, the Association has initiated the Recycle Demand Champions program, encouraging manufacturers and retailers to incorporate more post-consumer resins into their supplies. This initiative aims to boost the demand for recycled plastics, primarily in the packaging industry. Notable polymer types, such as Polypropylene (PP), Polyethylene (PE), and Polyethylene Terephthalate (PET), are commonly used in this context. The textiles industry is another sector showing interest in post-consumer recycled plastics, aligning with the circular economy's principles.
By increasing the utilization of recycled plastics, companies can expand their market presence, reduce their carbon footprint, and contribute to a more sustainable future.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased demand for recycled plastics from packaging industry is the key driver of the market. Post-consumer recycled plastics have gained significant importance in various industries due to the increasing focus on sustainability and waste reduction. The packaging sector is a major consumer of post-consumer recycled plastics, driven by growing consumer awareness regarding environmental protection. The use of these recycled plastics helps reduce carbon footprints and contributes to a greener environment. In the packaging industry, post-consumer recycled plastics are utilized extensively in various applications, including the production of FDA-approved food packaging, plastic containers, bottles, closures, jars, engineered pumps, sprayers, and caps. Recycling technologies play a crucial role in the collection, segregation, and management of plastic waste, enabling the production of high-quality post-consumer recycled plastics.
Despite the challenges in plastic waste management, including collection and segregation, the adoption of sustainable materials like post-consumer recycled plastics is essential for addressing carbon footprints and minimizing waste.
A rise in awareness about using recycled plastics through social media is the upcoming trend in the market. Plastic waste management is a significant challenge for waste reduction and sustainability. Every year, approximately 300 million tons of plastic are produced globally, and unfortunately, 8-10 million tons of it ends up in our oceans. Plastic waste poses a threat to both marine and terrestrial life. To mitigate this issue, various organizations such as The Association of Plastic Recyclers, 5 Gyres, Recycling of Used Plastics Limited (RECOUP), and others are advocating for the use of recycled plastics. They are utilizing social media platforms to promote awareness by sharing visuals and information about the environmental impact of plastic waste. Recycling technologies play a crucial role in reducing the carbon footprint and addressing the challenges of plastic waste management.
The use of recycled content in plastic production is a sustainable solution to minimize the amount of plastic waste. Effective plastic waste collection and segregation are essential to ensure the successful implementation of recycling quotas. The recycling industry focuses on processing various types of plastic waste, including bottles and single-use plastic waste, to manufacture new products.
The low recycling rate of plastics is a key challenge affecting the market growth. Plastic, an inexpensive and versatile material, is produced from petroleum and natural gas, making it a significant contributor to environmental concerns. Annually, over 300 MT of plastic is manufactured worldwide, with approximately 8 MT ending up in oceans. This issue is a major global concern, necessitating the promotion of plastic recycling by governments. However, recycling rates remain low, with over 50% of plastic waste discarded, around 25% incinerated, and only about 20% recycled. To mitigate the environmental impact of plastic and meet recycling quotas, advancements in recycling technologies are crucial. Effective plastic waste collection and segregation are essential components of plastic waste management.
Implementing sustainable materials and addressing waste management challenges are key to reducing carbon footprints and minimizing the production of single-use plastic waste.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AAA Polymer Inc. - The company offers post consumer recycled resin which used to store foods.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Post-consumer recycled plastics have gained significant attention in various industries due to their role in promoting waste reduction and sustainability. Recycling technologies play a crucial part in converting single-use plastic waste into valuable resources for the production of recycled content. The circular economy is driving the demand for post-consumer recycled plastics in sectors such as packaging, textiles, and automotive. Polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET), and other polymer types are commonly used in the production of post-consumer recycled plastics. Mechanical recycling is the most common processing type, which involves the reprocessing of waste plastic into new products. Bottles, single-use plastic waste, and non-bottle rigid plastics are the major categories of post-consumer recycled plastics.
However, the packaging industry, textiles industry, and various end-use sectors such as electronics, automotive, construction, and insulation are significant consumers of these recycled materials. Plastic waste management remains a significant challenge due to the vast amounts of plastic waste generated globally. Proper plastic waste collection, segregation, and recycling are essential to minimize the environmental impact of plastic waste. Landfill bans and taxes are driving the need for responsible packaging solutions and the adoption of post-consumer recycled plastics. Post-consumer recycled plastics offer several benefits, including reduced carbon footprints, waste reduction, and the diversion of plastic waste from landfills and oceans.
Moreover, they also provide excellent chemical resistance properties, making them suitable for various applications in sectors such as electronics, medical devices, and automotive. The plastic recycling sector is expected to witness significant growth due to the increasing demand for sustainable materials and the need to reduce greenhouse gas emissions associated with the production of new plastics from fossil fuels. The use of post-consumer recycled plastics in non-bottle rigid applications such as polyurethane (PUR), polyvinyl chloride (PVC), polystyrene (PS), plastic foam, sheets, expanded polystyrene, films, tubes, laminates, and various other products is also on the rise. The adoption of post-consumer recycled plastics is not limited to traditional industries such as packaging and textiles but is also gaining traction in sectors such as online sales, cosmetics, personal care items, personal protective equipment, and various industrial applications.
Further, the use of recycled packaging materials in various sectors is expected to continue to grow as companies seek to reduce their carbon footprint and promote sustainable practices. In conclusion, the market is poised for significant growth due to the increasing demand for sustainable materials and the need to reduce plastic waste and greenhouse gas emissions. The adoption of post-consumer recycled plastics in various industries such as packaging, textiles, automotive, construction, electronics, and various other applications is expected to continue to grow, providing opportunities for innovation and growth in the plastic recycling sector.
Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.89% |
Market Growth 2024-2028 |
USD 5.50 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.67 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key countries |
US, China, Canada, UK, and Saudi Arabia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AAA Polymer Inc., B and B Plastics Inc., B. Schoenberg and Co. Inc., Clear Path Recycling LLC, Defy Design, Dow Chemical Co., EFS Plastics Inc., Envision Plastics, EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H., Fukutomi Recycling Ltd., Genpak LLC, Green Warehouse Ltd., Jabil Inc., KW Plastics, MBA Polymers Inc., Recycling Technologies Ltd., SUEZ SA, TerraCycle Inc., Union J Plus (Thailand) Co. Ltd, and Veolia Environnement SA |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.