Recycled Plastics Market to Reach USD 57.71 Billion by 2030 with CAGR of 8.9% - Driving Circular Economy Growth

According to a new report by Maximize Market Research, the global recycled plastics market was valued at USD 31.77 billion in 2023 and is projected to grow to USD 57.71 billion by 2030, registering a CAGR of 8.9%. The expansion is being driven by stricter environmental policies, growing demand for sustainable materials, and improvements in waste collection and sorting infrastructure worldwide.

► Get a sample of the report:https://www.maximizemarketresearch.com/request-sample/10814/

♦ Key Highlights

Market size + CAGR: From USD 31.77 billion in 2023 to USD 57.71 billion by 2030, CAGR of 8.9%

Leading segment: In many forecasts, PET (polyethylene terephthalate) is dominant in recycled plastics usage

Fastest-growing or largest regional market: Asia Pacific leads globally, often exceeding 60% share by value

Key drivers & trends:

Regulatory mandates (EPR, bans on single‐use plastics)

Increased consumer preference for recycled content

Advances in sorting, recycling technologies, and chemical recycling

Challenges such as feedstock contamination, collection inefficiencies, and cost competitiveness

Top companies: Major players include Veolia, Tomra, Suez, and other global recycling and waste management firms (as frequently cited in industry analyses)

♦ Market Outlook

The recycled plastics market is poised for robust growth through 2030, underpinned by global shifts toward circular economy frameworks. Key plastic types such as PET, HDPE, and PP are forecast to maintain strong demand due to extensive applications in packaging, textiles, construction, and automotive sectors. Innovations in chemical recycling and improved sorting technologies will help to mitigate limitations associated with mechanical recycling, such as quality degradation.

► Get access to the full description of the report @https://www.maximizemarketresearch.com/market-report/global-recycled-plastics-market/10814/

♦ Regional Insights

Asia Pacific currently dominates the recycled plastics landscape, driven by booming manufacturing, population growth, expanding packaging industries, and supportive government policies. In 2023, Asia made up over 60% of the market in some estimates . North America and Europe are also important markets, propelled by stringent legislation on plastic waste, high consumer awareness, and investments in recycling infrastructure.

♦ Key Players & Competitive Landscape

Major participants in the recycled plastics sector compete through strategic alliances, capacity expansions, technological innovation, and vertical integration into waste collection systems. For example, Veolia recently announced a large closed-loop recycling facility in the UK, illustrating industry investment in high-purity recycled polymers. Firms are also investing in sensor technologies, AI-based sorting, and chemical depolymerization to enhance yield and quality of recycled outputs.

♦ Quote

"Across regions, the recycled plastics market is transforming from a compliance-driven niche into a mainstream material supply stream," said Dr. Aisha Raman, Senior Analyst at Maximize Market Research. "With advances in sorting, chemical recycling, and regulatory pull, the industry is approaching a tipping point in scalability and cost efficiency."

◉ Get Market Research Latest Trends

♦ Global AI in Computer Vision Market https://www.maximizemarketresearch.com/market-report/global-ai-in-computer-vision-market/6916/

♦ Digital Workplace Market https://www.maximizemarketresearch.com/market-report/global-digital-workplace-market/29093/

♦ Global Data Center Construction Market https://www.maximizemarketresearch.com/market-report/global-data-center-construction-market/64138/

♦ Electronic Data Interchange (EDI) Market https://www.maximizemarketresearch.com/market-report/global-electronic-data-interchange-edi-market/90413/

♦ Asia Pacific Commercial Vehicle Telematics Market https://www.maximizemarketresearch.com/market-report/asia-pacific-commercial-vehicle-telematics-market/7833/

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2
Pune Bangalore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.