Plastic Recycling Market Trends

Skyquest Technology's expert advisors have carried out comprehensive research on the plastic recycling market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.

Plastic Recycling Market Dynamics

Drivers

Increasing Regulatory Pressures

  • Around the world, governments have empowered regulations to curb plastic waste and facilitate increased recycling. Consumers are a lot more inclined towards brands showing eco-friendly practices which are pushing many industries towards using recycled materials in their products. In fact, this change in consumer behavior has contributed greatly to the expansion of the global market in plastic recycling.

Rising Consumer Awareness

  • Increased awareness of environmental issues has led consumers, demanding green products. People in the present times are more likely to prefer brands that showcase environment-friendly practices. Therefore, a progressive industrial development must incorporate recycled materials into its products. Adoption of this consumer behavior in bringing changes to the industry has greatly helped in expanding the global plastic recycling market growth.

Restraints

Limited Recycling Infrastructure

  • Inadequate recycling infrastructure, particularly in developing regions, restricts the collection and processing of plastic waste. Numerous regions have no high-level sorting and recycling technologies, heightened by inefficient logistics. All these factors converge into hitching the extent of the infrastructure to handle mounting plastic waste and stalling progress in the entire world in plastic recycling.

Complex Material Composition

  • Commonly used multilayered and composite plastics in packaging are very hard to recycle due to the various material combinations they possess. They require special technologies to separate layers that yield complex processing and cost. Such inevitable failures in recycling hamper development for plastics recycling due to the lack of scalable solutions for such materials.
REPORT OVERVIEW BUY NOW

REQUEST FOR SAMPLE

Want to customize this report? REQUEST FREE CUSTOMIZATION

FAQs

Global Plastic Recycling Market size was valued at USD 45.5 Billion in 2023 poised to grow from USD 49.73 Billion in 2024 to USD 101.30 Billion by 2032, growing at a CAGR of 9.3% in the forecast period (2025-2032).

The global plastic recycling market is very competitive; many players are investing in advanced recycling technologies as well as infrastructures. The leading companies in the sector such as Veolia, SUEZ, Tomra Systems, offer innovative solutions for the collection, sorting, and processing of plastic waste. Other key players include Waste Management Inc. and ALBA Group. All these companies generally focus their commitments on enhancing recycling capabilities coupled with the promotion of sustainability and technological advancement to meet the increasing demand for recycled plastics and to satisfy the growing legal requirements. 'Veolia (France)', 'SUEZ (France)', 'Tomra Systems (Norway)', 'Waste Management Inc. (USA)', 'ALBA Group (Germany)', 'Covestro (Germany)', 'Biffa (United Kingdom)', 'Plastic Energy (United Kingdom)', 'Renewi (Netherlands)', 'Cleanaway Waste Management (Australia)', 'DS Smith Recycling (United Kingdom)', 'Indorama Ventures (Thailand)', 'Krones AG (Germany)', 'Brightmark (USA)', 'Unilever (United Kingdom/Netherlands)'

Around the world, governments have empowered regulations to curb plastic waste and facilitate increased recycling. Consumers are a lot more inclined towards brands showing eco-friendly practices which are pushing many industries towards using recycled materials in their products. In fact, this change in consumer behavior has contributed greatly to the expansion of the global market in plastic recycling.

Shift Towards Chemical Recycling Technologies: Chemical recycling is gaining momentum in the global plastic recycling market trends. It would enable the recycling of materials that were yet unrecyclable by breaking plastics up into their components. The emerging chemical recycling process is supposed to boost efficacy and even types of plastics available for recycling.

Asia Pacific dominated the global plastic recycling market due to its large-scale manufacturing base, high plastic consumption, and increasing focus on sustainability. This region enjoys very rich recycling infrastructure; such countries as China and India rank among the major recycling hub countries. Government initiative promotes waste management and circular economy goals and further helps with expansion. Low-Cost Labor and Raw Materials and Other Factors Increasing Compete for Recycling Operations. Rising awareness of environmental issues, coupled with stricter regulations on plastic waste, drive regional investments in the advanced recycling technologies that continue to elevate Asia Pacific's dominance in the world plastic recycling market.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Feedback From Our Clients

Global Plastic Recycling Market
Plastic Recycling Market

Report ID: SQMIG20N2039

[email protected]
USA +1 351-333-4748

BUY NOW GET FREE SAMPLE