Recycled Plastic Industry Sector Annual Growth to hit US$ 95.5 billion by 2031 | Top 5 Companies are WM Intellectual Property Holdings, L.L.C., Veolia, Shell International B.V., Waste Connections, CLEAN HARBORS, INC

Global Recycled Plastic Market reached US$ 48.6 billion in 2022 and is expected to reach US$ 95.5 billion by 2031, growing with a CAGR of 8.9% during the forecast period 2024-2031.

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Latest M&A

✅ AZEK Company acquired Northwest Polymers, a regional plastics recycler, to expand its recycling and PVC "FULL-CIRCLE" post‐construction recycling program in the U.S. Pacific Northwest, increasing access to high‐quality recycled feedstock for building materials.​

✅ The broader plastics and packaging space continues to see bolt‐on acquisitions of regional recyclers by large packaging and materials firms, aimed at securing recycled resin supply and meeting recycled‐content mandates in packaging.

Key Players:

Covetsro AG, REMONDIS SE & Co. KG, Biffa, Stericycle, Republic Services, Inc., WM Intellectual Property Holdings, L.L.C., Veolia, Shell International B.V., Waste Connections, CLEAN HARBORS, INC

Latest Product Launches

✅ Signify launched Europe's first LED tube (Philips MASTER LEDtube T8 EM/mains) using on average 40% post‐consumer recycled plastic, sourced from waste such as fishing nets, water jugs, and car headlights, targeting office, school, and warehouse lighting upgrades.​

✅ In India, Tetra Pak introduced carton packages with 5% certified recycled polymers produced at its ISCC PLUS‐certified Chakan, Pune factory, making it the first food and beverage packaging player in India to integrate certified recycled polymers, aligned with upcoming recycled‐content rules.​

✅ A Kerala startup, Naeth, is launching fabrics made from recycled PET bottles blended with bamboo fibers, including an "upcycled" apparel collection based on traditional handloom garments

Growth Forecast Projection:

The Global Recycled Plastic Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Recycled Plastic Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segmentation:

By Type: (Post Consumer Recyclate, Industrial Recyclate)

By Plastic Type: (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene, Others)

By Source; (Bottles, Films, Foams, Fibers, Others)

By Process: (Mechanical, Chemicals, Others)

By End-User: (Building & Construction, Packaging, Electrical & Electronics, Textiles, Automotive, Others)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Recycled Plastic producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Recycled Plastic revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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Latest Investments

PureCycle Technologies raised USD 33 million in February 2025 via a financing transaction to advance its polypropylene (PP) dissolution recycling technology and support commercial operations at its Ironton facility, with prior green bond and follow‐on rounds backing further capacity expansion in the U.S..​

In India, there is an estimated USD 200 million investment opportunity to add about 1,000 kilotonnes per annum of plastic waste recycling capacity in states like Odisha and Chhattisgarh, supported by policy pushes on circularity and extended producer responsibility (EPR).

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Project Hubs

Major project hubs for recycled plastics include:

✅ U.S. Gulf Coast and Midwest: ExxonMobil and others are investing in advanced/chemical recycling capacity expansions in Texas and other states to process mixed plastic waste back into feedstocks.​

✅ U.S. Southeast and Midwest: PureCycle's Ironton (Ohio) commercial PP recycling plant and a second multi‐line complex in Augusta, Georgia are emerging as key hubs for high‐purity recycled PP production.​

✅ India: Chakan (Pune) for Tetra Pak's ISCC PLUS‐certified recycled polymers production and multiple state‐level initiatives to expand mechanical recycling infrastructure.​

✅ Europe: Numerous packaging and chemical companies are piloting and scaling chemical recycling plants, supported by strong EU circular‐economy regulations and brand‐owner demand

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