Press release
Navigating the Future: Recycled Plastics Market Trends and Forecast Insights, 2025 Edition
Recycled Plastics
Recycled Plastics Market Size Growth Forecast: What to Expect by 2025?
In recent times, we've seen consistent growth in the recycled plastics market. The market, which was valued at $54.16 billion in 2024, is projected to increase to $56.17 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 3.7%. Factors such as increased environmental consciousness, governmental regulations, e-waste recycling, customer need, and supply chain sustainability have all contributed to the growth seen in previous periods.
How Will the Recycled Plastics Market Size Evolve and Grow by 2029?
In the coming years, the recycled plastics market is anticipated to experience robust growth. The market is projected to expand to $68.48 billion by 2029, with a compound annual growth rate (CAGR) of 5.1%. Several factors are driving this growth during the forecast period, such as circular economy initiatives, corporate sustainability objectives, reduction of plastic waste, bioplastics, and hybrid materials, as well as sustainable packaging. Key trends during this forecast period will be innovative recycling technologies, greener packaging, conversion of plastic to fuel, e-waste recycling, and sustainable fashion.
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What Drivers Are Propelling the Growth of Recycled Plastics Market Forward?
The surge in e-commerce activities is anticipated to drive the expansion of the recycled plastics market. E-commerce activities, which comprise of online buying and selling, digital payments, and various transaction models, are redefining trade via the internet. In order to minimize waste and lessen the ecological impact of online retail, recycled plastics are increasingly utilized in e-commerce packaging, this includes shipping boxes, mailers, and protective materials. For example, a report released by the U.S. Census Bureau, an arm of the United States Department of Commerce, highlighted that in the third quarter of 2023, U.S. online retail sales amounted roughly to $284.1 billion. This represented a 2.3% growth when compared to the second quarter of 2023. Thus, the swift advancement in e-commerce activities will propel the expansion of the recycled plastics market.
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Which Emerging Trends Are Transforming the Recycled Plastics Market in 2025?
The rise of technological innovations is a significant trend gaining traction in the recycled plastics market. Prominent organizations in this market are aiming to devise new technological responses in order to solidify their market status. For example, in February 2024, BASF SE, a chemical company originating from Germany, initiated ChemCycling. This technology converts plastic waste into valuable raw materials via chemical recycling, thus promoting sustainability and the circular economy by substituting fossil-based resources with recycled plastics for production.
What Are the Key Segments in the Recycled Plastics Market?
The recycled plastics market covered in this report is segmented -
1) By Type: Polyethylene Terephthalate, Polyvinyl Chloride, Polyethylene, Polypropylene, Polystyrene, Other Types
2) By Source: Plastic Bottles, Plastic Films, Plastic Foams, Plastic Fibers, Other Sources
3) By Application: Packaging, Textile, Automotive, Building And Construction, Electrical And Electronics, Other Applications
Subsegments:
1) By Polyethylene Terephthalate (PET): Post-Consumer Recycled PET (rPET), Post-Industrial Recycled PET
2) By Polyvinyl Chloride (PVC): Rigid PVC, Flexible PVC
3) By Polyethylene (PE): High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE)
4) By Polypropylene (PP): Homopolymer PP, Copolymer PP
5) By Polystyrene (PS): Expanded Polystyrene (EPS), High-Impact Polystyrene (HIPS)
6) By Other Types: Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC)
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Who Are the Key Players Shaping the Recycled Plastics Market's Competitive Landscape?
Major companies operating in the recycled plastics market include Rethmann SE & Co. KG, Biffa Waste Services Limited, Stericycle Inc., Veolia India Private Limited, Jayplas Limited, KW Plastics, MBA Polymers Inc, Waste Connections Inc., Clean Harbors Inc, Suez India Private Limited, Plastic Recycling Inc., UltrePET LLC, Greenotech Recycling Private Limited., Advanced Environmental Recycling Technologies Inc., Alpek S.A.B. de C.V., B. Schoenberg & Co Inc., B&B Plastics Recycling Inc., Berry Global Inc., CABKA North America Inc., CarbonLite Industries LLC, Custom Polymers Inc., Dart Container Corporation., Delta Plastics of the South LLC, ECO-Cycle Solutions LLC, Emco Industrial Plastics Inc., Envision Plastics LLC, Far Eastern New Century Corporation, Fresh Pak Corporation, GDB International Inc.
What Geographic Markets Are Powering Growth in the Recycled Plastics Market?
Asia-Pacific was the largest region in the recycled plastics market in 2024. North America is expected to be the fastest-growing region in the recycled plastics market share during the forecast period. The regions covered in the recycled plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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