Plastic Recycling Market to Reach US$60.2 Billion by 2031, Growing at 8.9% CAGR | Asia-Pacific Dominates as Largest and Fastest-Growing Region | DataM Intelligence

Leander, Texas and Tokyo, Japan - Dec 03, 2025
According to DataM Intelligence, the global plastic recycling market reached US$28.3 billion in 2022 and is expected to reach US$60.2 billion by 2031, growing with a CAGR of 8.9% during the forecast period 2024-2031. This robust growth is propelled by stringent global regulations against plastic waste, the growing demand for eco-friendly packaging solutions, corporate sustainability commitments and Extended Producer Responsibility (EPR) schemes, technological advancements in sorting and recycling processes, and increasing consumer awareness and demand for recycled content.

Get a Free Sample PDF Of This Report (Get Higher Priority for Corporate Email ID): https://www.datamintelligence.com/download-sample/plastic-recycling-market?jd

Report Details:
• No. of Pages: 180
• Forecast Period: 2024-2031
• Market Size (2022): $28.3 Billion
• Market Size (2031): $60.2 Billion
• Compound Annual Growth Rate: 8.9%
• Regions Covered: Global

Global Recent Developments:
✅ November 2025: Dow and Mura Technology inaugurated the world's first commercial-scale HydroPRSTM (Hydrothermal Plastic Recycling Solution) plant in Germany, capable of recycling all forms of plastic, including flexible and multi-layer Packaging, back into virgin-quality feedstocks.
✅ November 2025: Korea passed a groundbreaking "Plastic Resource Circulation Act," banning the landfilling of all recyclable plastics and mandating advanced chemical recycling for hard-to-recycle streams, positioning Asia-Pacific for accelerated market growth.
✅ October 2025: The European Union officially implemented its mandate requiring all plastic Packaging placed on the EU market to contain a minimum of 30% recycled content by 2030, triggering massive investment in PET, HDPE, and PP recycling capacity across the continent.
✅ October 2025: IBM and Waste Management launched an AI-powered robotic sorting system that uses hyperspectral imaging to identify and sort black plastics and contaminated films at material recovery facilities (MRFs), dramatically improving yield for Polypropylene (PP) and Polyethylene (PE) streams.
✅ September 2025: L'Oreal, PepsiCo, and SABIC announced a consortium to create a closed-loop supply chain for recycled Polyethylene Terephthalate (PET) in Europe, guaranteeing offtake for food-grade rPET and stabilizing prices for recyclers.

Buy Now and Enjoy a 30% Year-End Discount: https://www.datamintelligence.com/buy-now-page?report=plastic-recycling-market

Competitive Landscape
The market features a mix of global waste management giants, specialized recycling technology firms, and chemical companies integrating recycling into their production.

1. Waste Management, Inc. and Republic Services, Inc. (USA) maintained leadership in collection and mechanical recycling infrastructure in North America.
2. Veolia Environnement S.A. (France) and Suez S.A. (France) were key players in Europe and globally, investing heavily in advanced sorting and chemical recycling technologies.
3. KW Plastics (USA) remained a major player in recycling Polypropylene (PP) and Polyethylene (PE) for durable goods.
4. Indorama Ventures (Thailand) and Alpek (Mexico) led the Polyethylene Terephthalate (PET) recycling segment as integrated producers of virgin and recycled PET resin.
5. LyondellBasell and Dow emerged as significant players through investments in advanced (chemical) recycling ventures to produce circular feedstocks for their polymer production.

Speak to Our Analyst and Get Customization in the Report: https://www.datamintelligence.com/customize/plastic-recycling-market?jd

Segmentation Analysis
By Application
• Growing Demand for Eco-friendly Packaging Solution is the primary market driver. During the forecast period, the packaging application is expected to hold around 1/3rd of the global market. This includes bottles, trays, films, and pouches made from rPET, rHDPE, and rPP, driven by brand owner commitments and regulatory mandates for recycled content.
• Construction (pipes, panels) and Automotive (interior parts, under-the-hood components) are other significant, high-volume applications for recycled plastics like PP and ABS.

By Material
• Polyethylene Terephthalate (PET) is the most established and valuable recycling stream due to high demand for clear, food-grade rPET from the beverage industry.
• Polyethylene (PE) (both HDPE and LDPE) is the largest stream by volume, recycled into non-food bottles, crates, and films.
• Polypropylene (PP) is a fast-growing segment as recycling technology improves, with demand from automotive and rigid packaging.

Request for 2 Days FREE Trial Access: https://www.datamintelligence.com/reports-subscription?jd

Regional Analysis:
Asia-Pacific is both the Largest Region and the Fastest Growing Region for the plastic recycling market. Its dominance is due to being the world's largest producer and consumer of plastics, coupled with increasingly stringent national policies in China, India, Japan, and Southeast Asia to combat plastic pollution and develop circular economies. The region is also the hub for manufacturing that consumes recycled plastic resins.

Europe is a highly mature and regulated market, leading in recycling rates, advanced technology adoption, and policy frameworks (like the EU's Single-Use Plastics Directive and Packaging and Packaging Waste Regulation - PPWR), making it a key region for innovation and high-value recycled plastics.

Market Trends & Drivers
The plastic recycling market is undergoing a technological revolution. Key trends include the rapid scale-up of chemical (advanced) recycling to handle contaminated, flexible, and multi-layer plastics that mechanical recycling cannot; the integration of AI, robotics, and digital watermarking (e.g., HolyGrail 2.0) to drastically improve sorting purity and yield; the emergence of mass balance accounting for allocating recycled content in complex chemical production; and increased vertical integration from waste management to polymer production. Regulatory pressure, corporate sustainability goals, and technological breakthroughs are the core market drivers.

Related Reports:
1. Plastic Additive Market - https://www.datamintelligence.com/research-report/plastic-additive-market?jd
2. Recycled Plastic Market - https://www.datamintelligence.com/research-report/recycled-plastic-market?jd
3. Sustainable Packaging Coatings Market - https://www.datamintelligence.com/research-report/sustainable-packaging-coatings-market?jd

Contact Us:
Sai Kiran
DataM Intelligence 4market Research LLP
Phone: +1 877-441-4866
Email: Sai.k@datamintelligence.com

About DataM Intelligence
DataM Intelligence is a renowned provider of market research, delivering deep insights through pricing analysis, market share breakdowns, and competitive intelligence. The company specialises in strategic reports that guide businesses in high-growth sectors such as nutraceuticals and AI-driven health innovations.
To find out more, visit https://www.datamintelligence.com/ or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.