Post-Consumer Recycled Plastics Global Market Report 2024

The global post-consumer recycled plastics market has grown strongly in recent years. It will grow from $15.07 billion in 2023 to $16.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth observed during the historic period can be credited to several key factors. These include the implementation of corporate sustainability initiatives, increased consumer demand for sustainable products, voluntary industry-driven initiatives promoting sustainability, the establishment of robust infrastructure for plastic waste collection, decreased reliance on virgin plastics, and economic incentives encouraging recycling efforts. These combined elements played a pivotal role in driving growth within this period.

The global post-consumer recycled plastics market is expected to see strong growth in the next few years. It will grow to $20.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. Anticipated growth in the forecast period is linked to several contributing factors. These encompass escalating global concerns regarding plastic waste, the implementation of Extended Producer Responsibility (EPR) programs, the proliferation of green labeling and certification initiatives, increased consumer education and advocacy, the expansion of collection infrastructure, and alignment with global sustainability objectives. These elements collectively drive the projected growth in this period.

The surge in demand for non-residential construction projects is anticipated to drive growth in the post-consumer recycled plastics market. Recycled plastics present a viable and eco-friendly alternative material for various construction applications, including incorporation into 'green' concrete and substitution for traditional materials like steel and brick. Notably, the construction of commercial buildings saw a 13% increase in 2021, underscoring the escalating need for non-residential construction projects, thus fueling the demand for post-consumer recycled plastics.

The escalating demand within the automotive industry is poised to propel the expansion of the post-consumer recycled plastics market. These recycled plastics find application in manufacturing interior components of vehicles, such as dashboards and door panels. Statistical data from 2022 showed a substantial 5.7% increase in global vehicle production and a remarkable 10% rise in unit sales within the automobile sector. This increased demand within the automotive industry signifies a driving force behind the growth of the post-consumer recycled plastics market.

Technological advancements emerge as a pivotal trend shaping the post-consumer recycled plastics market. Key industry players are directing their efforts toward developing innovative technological solutions, notably AI-powered sortation. Such advancements facilitate the circular economy for recycled plastics. For instance, in April 2021, a company deployed AI-guided robotic sorting systems that effectively identify and sort specific plastics, thereby contributing to the recycling process and supplying feedstock for new containers and packaging.

Prominent companies in the post-consumer recycled plastics market prioritize product innovation, exemplified by the introduction of 50% post-consumer recycled (PCR) plastic pails. These containers, crafted from recycled plastic materials, notably assist customers in reducing waste and advancing sustainability goals. For instance, a US-based natural gas company launched these PCR plastic pails in February 2023, marking a significant step toward sustainable development and decreased plastic waste.

In April 2022, SCG Chemicals, a Bangkok-based chemical manufacturing company, acquired Sirplaste-Sociedade Industrial De Recuperados De Plásticos Sa, for an undisclosed amount. The acquisition of Sirplaste shares would help SCGC expand its high-quality PCR business, one of the primary products under SCGC GREEN POLYMERTM, which includes eco-friendly polymer solutions in four sectors. Sirplaste-Sociedade Industrial De Recuperados De Plásticos SA is a Portugal-based plastic recycling company.

Major companies operating in the post-consumer recycled plastics market report are Veolia Environnement SA, Suez SA, Biffa PLC, DS Smith PLC, Genpak LLC, Envision Plastics Industries LLC, Multiplast Systems Inc., KW Plastics Inc., Clear Path Recycling LLC, Jayplas, Delta Plastics, Custom Polymers Inc., MBA Polymers Inc., Waste Management Inc., Republic Services Inc., Waste Connections Inc., Clean Harbors Inc., Remondis SE & Co. KG, Stericycle Inc., Plastipak Holdings Inc., CarbonLITE Industries LLC, Avangard Innovative LP, B. Schoenberg & Co. Inc., Mohawk Industries Inc., Omachron Plastics Inc., Otto Environmental Systems Inc., Closed Loop Partners, Ecoraster Inc., GridX LLC, Braskem

Asia-Pacific was the largest region in the post-consumer recycled plastics market in 2023. North-America is expected to be the fastest-growing region in the forecast period. The regions covered in the post-consumer recycled plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the post-consumer recycled plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Diverse types of post-consumer recycled plastics exist, including polypropylene (PP), polystyrene (PS), polyethylene (PE), polyvinyl chloride (PVC), polyurethane (PUR), polyethylene terephthalate (PET), and others. Polypropylene, for instance, finds application in consumer product packaging, diverse industries requiring plastic parts, including automotive sectors, specialized devices like living hinges, and fabric production. As a thermoplastic addition polymer formed from propylene monomers, polypropylene holds significant utility across various sectors. Within the post-consumer recycled plastics market, services encompass collection and transportation, recycling processes, incineration, and landfill management. These recycled plastics find utilization across industries such as packaging, building and construction, automotive manufacturing, electronics, furniture, and various other end-use sectors.

This report provides post consumer recycled plastics market statistics, including post consumer recycled plastics industry global market size, regional shares, competitors with an post consumer recycled plastics market share, detailed post consumer recycled plastics market segments, market trends and opportunities, and any further data you may need to thrive in the post consumer recycled plastics industry. This post consumer recycled plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The post-consumer recycled plastics market consists of sales of low-density polyethylene (LDPE), high-density polyethylene (HDPE) and polycarbonate (PC) plastics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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