The India waste plastic recycling market size reached 9.9 Million Tons in 2023. Looking forward, the publisher expects the market to reach 23.7 Million Tons by 2032, exhibiting a growth rate (CAGR) of 10.19% during 2023-2032. The increasing use of recycled plastic in the packaging industry, rising focus on sustainable lifestyle, and favorable initiatives by the Government for recycling waste plastic represent some of the key factors driving the market.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with several small and large players operating in the industry due to low entry and exit barriers of entering the market. The volume of new entrants is strong in the India waste plastic recycling industry due to favorable government initiatives that support start-ups with innovative technology and low switching cost.
What is Waste Plastic Recycling?
Waste plastic recycling refers to the process of collecting and reprocessing plastic waste into new products. It prevents environmental pollution and helps conserve energy and natural resources. It also aids in reducing energy consumption and greenhouse gas (GHG) emissions, as it takes less energy to recycle plastic. It is cost-effective as compared to plastic made from raw materials. Moreover, it creates various job opportunities, such as collection, sorting, processing, and manufacturing, in the recycling industry.
However, the volume of waste collected and sorted has fallen drastically and demand for recycled plastic has dropped in India. Apart from this, the closure of hotels and restaurants further caused serious disturbances in the waste plastic recycling market. Furthermore, the labor shortage has also blighted the sector, as most workers left the cities to move back to their homes in the countryside.
2. What is the expected growth rate of the India waste plastic recycling market during 2024-2032?
3. What are the key factors driving the India waste plastic recycling market?
4. What has been the impact of COVID-19 on the India waste plastic recycling market?
5. What is the breakup of the India waste plastic recycling market based on the treatment?
6. What is the breakup of the India waste plastic recycling market based on the material?
7. What is the breakup of the India waste plastic recycling market based on the application?
8. What is the breakup of the India waste plastic recycling market based on the recycling process?
9. What are the key regions in the India waste plastic recycling market?
10. Who are the key players/companies in the India waste plastic recycling market?
Increasing Use of Recycled Plastic in Packaging Industry Fostering Market Growth
The India waste plastic recycling market is experiencing continuous growth on account of the increasing use of recycled plastic in the food and beverage (F&B) packaging industry. The rising working population is resulting in the escalating demand for convenience and ready-to-eat (RTE) food. Moreover, due to rising environmental concerns leading market players and packaging companies are focusing on introducing recyclable packaging. Apart from this, individuals are adopting eco-friendly packaging prepared with non-toxic, durable, and recycled materials.Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with several small and large players operating in the industry due to low entry and exit barriers of entering the market. The volume of new entrants is strong in the India waste plastic recycling industry due to favorable government initiatives that support start-ups with innovative technology and low switching cost.
What is Waste Plastic Recycling?
Waste plastic recycling refers to the process of collecting and reprocessing plastic waste into new products. It prevents environmental pollution and helps conserve energy and natural resources. It also aids in reducing energy consumption and greenhouse gas (GHG) emissions, as it takes less energy to recycle plastic. It is cost-effective as compared to plastic made from raw materials. Moreover, it creates various job opportunities, such as collection, sorting, processing, and manufacturing, in the recycling industry.
COVID-19 Impact:
The COVID-19 pandemic had a positive impact on the India plastic waste generation market. During the outbreak, the demand for face shields, gloves, takeaway food containers, and bubble wrap surged. Moreover, the mandatory use of personal protective equipment (PPE) by frontline workers significantly contributed to the plastic waste generation market in India.However, the volume of waste collected and sorted has fallen drastically and demand for recycled plastic has dropped in India. Apart from this, the closure of hotels and restaurants further caused serious disturbances in the waste plastic recycling market. Furthermore, the labor shortage has also blighted the sector, as most workers left the cities to move back to their homes in the countryside.
India Waste Plastic Recycling Market Trends:
At present, the flourishing automotive industry and the increasing number of auto parts and components prepared using recycled plastics represent one of the key factors positively influencing the market across India. In addition, the growing awareness among people about the harmful effects of plastic on the environment is catalyzing the demand for waste plastic recycling in the country. Apart from this, the Government of India (GoI) is undertaking plastic waste management (PWM) initiatives and introducing a ban on single-use plastic. This, in confluence with favorable initiatives to recycle plastic waste by the department of science and technology (DST), is stimulating the growth of the market across the country.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the India waste plastic recycling market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on treatment, material, application and recycling process.Treatment Insights:
- Co-Processing
- Heat Compression
- Pyrolysis
- Landfill
- Incineration
- Others
Material Insights:
- Poly Vinyl Chloride (PVC)
- Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Acrylonitrile Butadiene Styrene (ABS)
- Others
Application Insights:
- Packaging
- Construction
- Textile
- Automotive
- Others
Recycling Process Insights:
- Mechanical
- Others
Regional Insights:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the India waste plastic recycling market. Some of the companies covered in the report include:
- A1 Impex
- Addonn Polycomponds Private Limited
- GD Plast
- Gravita India Limited
- Jairam Plastic Industries
- Key Exports
- Luckystar International Pvt. Ltd.
- Manjushree Technopack Limited (AI Lenarco Midco Limited)
- Parkash Plastic
- Polyraw Enterprises
- R.B. Polymers
- Yadav Infrapolymers Private Limited
Key Questions Answered in This Report
1. What was the size of the India waste plastic recycling market in 2023?2. What is the expected growth rate of the India waste plastic recycling market during 2024-2032?
3. What are the key factors driving the India waste plastic recycling market?
4. What has been the impact of COVID-19 on the India waste plastic recycling market?
5. What is the breakup of the India waste plastic recycling market based on the treatment?
6. What is the breakup of the India waste plastic recycling market based on the material?
7. What is the breakup of the India waste plastic recycling market based on the application?
8. What is the breakup of the India waste plastic recycling market based on the recycling process?
9. What are the key regions in the India waste plastic recycling market?
10. Who are the key players/companies in the India waste plastic recycling market?
Table of Contents
1 Preface3 Executive Summary14 Value Chain Analysis16 Price Analysis17 Technological Advancements in Waste Plastic Recycling Industry18 Impact Analysis of Recycled Plastics on Virgin Plastics
2 Scope and Methodology
4 Introduction
5 India Waste Plastic Recycling Market
6 India Plastic Recycling Capacity
7 India Waste Plastic Generated
8 Market Breakup by Treatment
9 Market Breakup by Material
10 Market Breakup by Application
11 Market Breakup by Recycling Process
12 Market Breakup by Region
13 SWOT Analysis
15 Porters Five Forces Analysis
19 Policy Changes and Trends
20 Sourcing Strategies for Procuring Large Quantities of PCR
21 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- A1 Impex
- Addonn Polycomponds Private Limited
- GD Plast
- Gravita India Limited
- Jairam Plastic Industries
- Key Exports
- Luckystar International Pvt. Ltd.
- Manjushree Technopack Limited (AI Lenarco Midco Limited)
- Parkash Plastic
- Polyraw Enterprises
- R.B. Polymers
- Yadav Infrapolymers Private Limited.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 112 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value in 2023 | 9.9 Million Tons |
| Forecasted Market Value by 2032 | 23.7 Million Tons |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | India |
| No. of Companies Mentioned | 12 |
