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Rapid Expansion in Plastic Recycling Market: Exploring Current Trends, Market Drivers, and Projections for 2025-2029
Plastic Recycling Market Share
Zooming in on the Thriving Plastic Recycling Industry: Key Players, Growth Driven by Environmental Awareness, and Shift Towards Eco-Friendly Solutions
What Is The Projected Market Size Of The Global Plastic Recycling Market And Its Growth Rate?
The global plastic recycling market has experienced significant growth in recent years and projected to maintain this upward trajectory.
• The market size was $44.88 billion in 2024, growing to $48.59 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. This impressive growth can be credited to rising environmental awareness, regulatory initiatives, resource scarcity, waste management challenges, competitive market conditions, and incentive programs.
• Expert forecasts predict a continued market expansion in the coming years, with growth to $67.58 billion in 2029 at a CAGR of 8.6%. This expected growth can be attributed to single-use plastic bans, consumer education, extended producer responsibility (EPR), waste-to-energy solutions, and global supply chains.
What Is Driving The Growth In The Plastic Recycling Market?
The surge in plastic consumption worldwide is the primary engine propelling the growth of the plastic recycling market. Synthetic organic polymers, also known as plastics, are derived chiefly from fossil fuels and have found extensive usage across almost every sector of the modern economy due to their lightweight, low cost, durability, and versatility. Plastic recycling processes recover waste or scrap* plastic and transform it into functional and useful products. To illustrate, in 2022, the World Economic Forum estimated that roughly 400 million tons of plastic waste are generated annually across the globe, with packaging accounting for approximately 36% of all plastic produced, with 85% ending up in landfills. This increasing consumption of plastics, coupled with the need to manage waste, is fuelling the growth of the plastic recycling market.
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Who Are the Key Players Driving Plastic Recycling Market Growth?
The plastic recycling market is driven by a number of influential businesses, including:
• Kuusakoski Group Oy
• Berry Global Inc
• B & B Plastics Inc.
• Plastipak Packaging Inc.
• CarbonLite Industries LLC
• Custom Polymers Inc
• MBA Polymers Inc
• Clear Path Recycling LLC
• Veolia Environnement S.A
• Jayplas Limited
• Envision Plastics Industries LLC
• Green Line Polymers Inc
• Republic Services
• The Coca-Cola Company
• Loop Industries
• GreenMantra Technologies
• Next Generation Recyclingmaschinen GmbH
What Are The Key Trends In The Plastic Recycling Market?
Notable trends in the plastic recycling market include:
• Innovation in sorting technologies
• Adoption of eco-friendly packaging solutions
• Development of plastic-to-fuel technologies
• Strategic collaborations and partnerships
• Innovation in collection systems
What Are The Segments Of The Global Plastic Recycling Market?
The global plastic recycling market is segmented as follows:
• By Type: Polyethylene Terephthalate, Polyethylene, Polystyrene, Polyvinyl Chloride, Polypropylene, Other Types
• By Source: Bottles, Films, Foams, Fibers, Other Sources
• By End Use: Packaging, Automotive, Building And Construction, Electrical And Electronics, Other End Uses
Which Region Leads The Plastic Recycling Market?
North America emerged as the largest region in the plastic recycling market in 2024. However, the plastic recycling market spans across various regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Plastic Recycling Market Global Market Report?
- Market Size Analysis: Analyze the Plastic Recycling Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Plastic Recycling Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Plastic Recycling Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Plastic Recycling Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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