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Recycled Plastic Market is Forecasted to Rise at 7.8% CAGR through 2034 | FactMR Report

09-29-2025 09:06 AM CET | Chemicals & Materials

Press release from: Fact.MR

Recycled Plastic Market is Forecasted to Rise at 7.8% CAGR

The global recycled plastic market is projected to reach US$ 85.18 billion in 2024 and thereafter increase at a 7.8% CAGR to end up at US$ 180.51 billion by 2034, as stated in a newly published report by Fact.MR. This growth reflects an industry increasingly driven by corporate sustainability goals, supportive regulations, and the growing economic viability of recycling processes.

Segmentation by Polymer Type

High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), and Polypropylene (PP)

Among recycled polymers, HDPE remains one of the most important. Its prevalence in consumer goods such as detergent bottles, pipes, and packaging films ensures a consistent and relatively pure feedstock stream for recycling. LDPE is also significant, particularly in plastic films and flexible packaging, where collection systems are being strengthened. Polypropylene has broad applications across packaging, automotive, and household goods, making it an increasingly sought-after recycled resin. However, PP recycling faces challenges due to contamination and the difficulty of sorting mixed streams.

Polyethylene Terephthalate (PET), Polystyrene (PS), Polyamides, and PVC

PET is one of the most established plastics in the recycling sector, mainly due to the dominance of plastic bottles as an easily recoverable source. Recycled PET (rPET) is widely used in textiles, beverage bottles, and packaging, often meeting both cost and regulatory requirements. By contrast, polystyrene, polyamides, and PVC are more difficult to recycle due to contamination issues, smaller waste volumes, and technical complexities. Advances in chemical recycling are beginning to make these polymers more commercially viable, opening up new opportunities in sectors where their use has historically been limited.

Recent Developments and Technological Advances

One of the most impactful developments in recent years has been the adoption of advanced sorting technologies. Optical sensors, robotics, and AI-driven detection systems are enabling recyclers to improve sorting accuracy, reduce contamination, and enhance yield. These technologies allow for higher quality recycled outputs, thereby increasing acceptance in demanding applications.

Chemical recycling has also emerged as a transformative force. Unlike mechanical recycling, chemical processes break plastics down to their original monomers, which can then be re-polymerized into high-purity resins. This approach is especially promising for polymers such as polystyrene and PVC, which have historically been difficult to recycle mechanically. Although chemical recycling is still in its early commercial stages, it is expected to expand significantly over the coming decade.

The industry has also seen bold strategic moves from major companies. Dow has introduced new recycled resin lines under the REVOLOOP brand, aiming to expand the role of recycled materials in mainstream applications. Coca-Cola recently transitioned all its 500 mL bottles in Canada to 100% recycled plastic, showcasing both supply-chain capability and brand leadership. PepsiCo, in collaboration with INEOS and Amcor, has rolled out snack packaging made with 50% recycled content. Meanwhile, Veolia launched its PlastiLoop program to offer recycled plastic products and services worldwide. These examples illustrate the growing integration of recycling into the core strategies of both material producers and consumer brands.

Full Market Report available for delivery. For purchase or customization, please request here - https://www.factmr.com/connectus/sample?flag=S&rep_id=10332

Regional and Market Share Dynamics

East Asia is expected to dominate the recycled plastic market, accounting for over a third of global demand in 2024. Countries such as China, Japan, and South Korea are driving this growth with strong recycling mandates, investment in infrastructure, and a cultural emphasis on waste reduction. North America also remains a vital region, supported by advanced collection systems, innovative recycling technologies, and growing regulatory requirements.

In the United States, the recycled plastic market is forecast to generate more than US$ 17 billion in 2024, nearly doubling to over US$ 39 billion by 2034. This growth highlights the combination of consumer demand for sustainable products and government efforts to reduce plastic waste across industries.

Competitive Landscape

The competitive environment in the recycled plastic industry is intensifying as both established players and new entrants vie for market share. Global giants in chemicals and waste management are investing heavily in recycling infrastructure, while consumer goods companies are entering long-term agreements to secure reliable recycled feedstock.

Companies such as Clean Harbors, Shell International, Covestro, Waste Connections, WM, Alpek, Plastipak Holdings, Veolia, MBA Polymers, Green Line Polymers, CarbonLite Industries, ReVital Polymers, Dow, and INEOS are among the most influential players. Each is pursuing distinct strategies, ranging from vertical integration and expansion of processing facilities to partnerships with major consumer brands.

Competition is being reshaped by three key factors: technology, collaboration, and quality. Companies with advanced sorting and chemical recycling capabilities are positioned to win contracts with demanding clients. Strategic collaborations-such as joint ventures between resin producers and consumer brands-help secure both supply and demand. Finally, consistent quality and reliability are critical differentiators in an industry where contamination often limits usability.

Browse Full Report: https://www.factmr.com/report/recycled-plastic-market

Challenges and Risks

Despite strong growth prospects, the recycled plastic industry faces considerable challenges. Contamination and quality variation remain persistent issues, limiting the adoption of recycled plastics in high-specification applications such as food packaging and automotive components. High processing costs, including the capital intensity of advanced recycling infrastructure, also weigh heavily on profitability.

Another challenge lies in policy inconsistencies. While some regions mandate recycled content and ban single-use plastics, others lag in regulatory enforcement, creating uneven demand and uncertainty for investors. Feedstock availability is another limiting factor in regions with underdeveloped collection and sorting systems.

Check out More Related Studies Published by Fact.MR Research:

Wheat Herbicides Market: https://www.factmr.com/report/5166/wheat-herbicides-market

Ytterbium Fluoride Market: https://www.factmr.com/report/5167/ytterbium-fluoride-market

Sodium Dichromate Market: https://www.factmr.com/report/5168/sodium-dichromate-market

Mercuric Chloride Market: https://www.factmr.com/report/5169/mercuric-chloride-market

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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

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