Post-consumer Recycled Plastics Market worth $10.2 billion by 2024 | Key Players include Veolia Environnement S.A., SUEZ, Waste Management Inc., Republic Services Inc., Stericycle Inc., Biffa

According to recent market research "Post-consumer Recycled Plastics Market by Service (Collection & Transportation, Recycling, Landfills, Incineration) Polymer Type (PP, LDPE, HDPE, PVC, PUR, PET, PS), Processing Type, End-use Application, and Region - Global Forecast to 2024", size is projected to grow from USD 7.7 billion in 2019 to USD 10.2 billion by 2024, recording a CAGR of 5.7% during the forecast period.

The increasing urban population, rapid industrialization, growing concern toward the environmental impact of the improper disposal of plastic waste, along with laws & regulations regarding disposal and treatment of plastic waste, have propelled the growth of the global post-consumer recycled plastics market.

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The post-consumer recycled plastics market size is projected to grow from USD 7.7 billion in 2019 to USD 10.2 billion by 2024, recording a CAGR of 5.7% during the forecast period. The rise in the number of laws & regulations enforced by governments regarding recycling of post-consumer plastic waste is driving the growth of the post-consumer recycled plastics across the globe. Also, increasing urbanization and awareness regarding sustainable packaging solutions are projected to contribute to the growth of the post-consumer recycled plastics market during the forecast period.

Post-consumer recycled plastics can be defined as the recycled plastics obtained by recycling the plastic waste collected from consumers. The post-consumer plastic waste management include recycling, recovery, and disposal of plastic waste. Waste management systems ensure the safe collection, segregation, storage, transportation, processing, and disposal of generated plastic waste. Post-consumer plastic waste recycling also ensures that no harm is caused to the environment during this process and that the process is undertaken by the rules, regulations, and standards prescribed by governments or associations.

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The post-consumer recycled plastics market size is projected to grow from USD 7.7 billion in 2019 to USD 10.2 billion by 2024, recording a CAGR of 5.7% during the forecast period. The increase in awareness regarding sustainable & green packaging practices is projected to drive the demand of the post-consumer recycled plastics across the globe during the forecast period.

Veolia (France), SUEZ (France), Waste Management Inc. (US), Republic Services (US), and Stericycle (US), Clean Harbors (US), Waste Connections, Inc. (US), Biffa (UK), DS Smith (UK), and Remondis SE & Co. KG (Germany) are the key players operating in the post-consumer recycled plastics market. These players have adopted numerous growth strategies such as acquisitions, expansions, partnerships, contracts, joint ventures, new product & service developments, and technological advancements to increase their market shares and enhance their service portfolios.

The strategies of acquisitions together accounted for the largest share of all strategic developments that took place in the post-consumer recycled plastics market between January 2017 and July 2019. Companies such as Veolia Environnement (France), Waste Management, Inc. (US), Republic Services (US), Waste Connections, Inc. (US), and Biffa (UK) are the key players operating in the market that adopted these strategies to strengthen their business portfolios and market presence in the post-consumer recycled plastics market.

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Veolia Environnement (France) holds a strong market position throughout the diverse end-markets that it caters to. It has built a strong market image through its efficient operations for more than a century. Strategic partnerships, expansions, and agreements have enabled the company to reach out to fast-growing markets where the concern for environmental services is of paramount interest. Industrial and service sector companies are placing contracts or are partnering with Veolia to offer tailor-made services to suit different industries. Veolia is engaged in public-private and private-private partnerships to deliver comprehensive solutions to grave environmental & economic issues.

SUEZ (France) a leading and innovative group, has implemented a balanced and profitable growth strategy. The company has a strong presence across the globe and especially in Europe, for its Recycling & recovering segment. Its focus on growth strategies, such as expansions, contracts, new service developments, new product developments, joint ventures, and partnerships, will aid in its growth in the emerging and developed markets. For instance, SUEZ planned to build a recycling plant in Thailand, which would convert plastic waste into circular polymers. This plant is in line with Thailand’s ambitious target for achieving 100% plastic recycling by 2030. This expansion is expected to increase the company’s presence in Southeast Asia and also its expertise in plastic recycling. SUEZ, a leading and innovative group, has implemented a balanced and profitable growth strategy. The company has a strong presence across the globe and especially in Europe, for its Recycling & recovering segment.

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