(MENAFN- EIN Presswire)
CHICAGO, NY, UNITED STATES, January 10, 2025 /EINPresswire / -- The global recycled plastic
market is set to experience substantial expansion, with its market size expected to rise from US$ 50.80 billion in 2024 to an impressive US$ 102.40 billion by 2033, at a robust CAGR of 8.1% during the forecast period from 2025 to 2033.
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This growth is driven by the increasing demand for sustainable solutions across industries, stringent
government regulations promoting plastic recycling, and heightened consumer awareness of environmental conservation. Recycled plastics, derived from post-consumer and post-industrial waste, are gaining traction in packaging, automotive, construction, and textile applications due to their cost-effectiveness and eco-friendly attributes.
Market Dynamics
Driver: Growing environmental consciousness among producers fosters sustainable plastic waste practices
Over the past decade, businesses in the recycled plastics market have begun placing ecological concerns at the core of their operations, but in 2024 the momentum is more influential than ever. An estimated 39 million metric tons of plastic were repurposed globally this year, revealing a tangible shift in corporate responsibility. Major consumer goods companies introduced at least 4,000 new product lines containing recycled resins, underscoring how environmental priorities are shaping supply chains. Multinational retailers increased orders of reclaimed polyethylene, translating to nearly 15 million metric tons of previously discarded plastic re-entering production loops. Researchers from various institutes logged more than 300 patents dedicated to eco-friendly polymer formulations, an upward trend mirroring surging innovation. Legislators in prominent jurisdictions also drafted over 25 new policies aimed at driving greener production cycles, a direct response to growing environmental demands.
Corporate executives report that this heightened awareness has enabled cross-industry partnerships in the recycled plastics market aimed at streamlining plastic recovery. Packaging giants are collaborating with chemical firms to design materials that maintain quality after multiple recycling loops, expanding the lifespan of each polymer molecule. Meanwhile, philanthropic organizations have accelerated grants to industrial recycling facilities, ensuring that growth in sorted, high-grade plastic feedstock is met with adequate processing capacity. As new regulations tighten specifications around sustainable packaging, manufacturers must integrate eco-conscious strategies from product conception onward. This merging of ecological foresight and practical design is projected to shape the plastics industry for years to come, as stakeholders increasingly champion circular economies over linear disposability.
Key Recycled Plastic Market Companies:
.B&B Plastics
.B. Schoenberg & Co.
.Clear Path Recycling
.Custom Polymers, Inc.
.Envision Plastics
.Green Line Polymers
.Green-O-Tech India
.Jayplas
.Kuusakoski Group Oy
.KW Plastics, Inc.
.MBA Polymers Inc.
.Miller Waste Mills
.Recycled Plastic Inc.
.Plastipak Holdings
.Recyclex S.A.
.Seraphim Plastics
.UltrePET, LLC
.Veolia
.Other Prominent Players
For more information about the recycled plastic market and its projected growth, please contact:
Market Segmentation Overview
By Source
.Plastic Bottles
.Plastic Films
.Synthetic Fibers
.Rigid Plastics & Foams
.Others (auto-parts, electrical goods, furniture and others)
By Type
.Polyethylene Terephthalate (PET)
.Polyethylene (PE) - LPDE & HDPE
.Polypropylene (PP)
.Polyvinyl Chloride (PVC)
.Polystyrene (PS)
.Polyamide (PA)
.Others
By Recycling Method
.Thermal decomposition
.Heat compression
.Distributed recycling
.Pyrolysis
.Others
By End-User
.Packaging (Bottles, Containers, Bags & Films, Strapping, Others)
.Building & Construction (Carpets & Rugs, Lumber, Pipe, Furnishings, Others)
.Textiles
.Automotive (Batteries, Others)
.Electrical & Electronics
.Others
By Region
.North America
.The U.S.
.Canada
.Mexico
.Europe
.Western Europe
.The UK
.Germany
.France
.Italy
.Spain
.Rest of Western Europe
.Eastern Europe
.Poland
.Russia
.Rest of Eastern Europe
.Asia Pacific
.China
.India
.Japan
.Australia & New Zealand
.ASEAN
.Malaysia
.Philippines
.Singapore
.Thailand
.Indonesia
.Vietnam
.Cambodia
.Rest of ASEAN
.Rest of Asia Pacific
.Middle East & Africa (MEA)
.UAE
.Saudi Arabia
.South Africa
.Rest of MEA
.South America
.Argentina
.Brazil
.Rest of South America
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