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Plastic Recycling Market is set to reach USD 60.2 billion by 2031, Asia Pacific leads the market with 48.2% market share | Market Trends. M&A, Tech & Strategic Partnership.
Plastic Recycling
The Plastic Recycling Market is growing due to rising environmental awareness, government regulations, circular economy initiatives, increasing plastic waste, and innovations in advanced recycling technologies driving sustainable material recovery.
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United States: Key Industry Developments (2026 & 2025)
✅ January 2026: Waste Connections announced the construction of a new Materials Recovery Facility (MRF) in Commerce City, Colorado enabling expanded recycling capacity and integration of AI‐enabled sorting systems to improve plastic material recovery.
✅ January 2026: Industry recyclers in the U.S. reported macro shifts in recycling flows and policy impacts, highlighting growing adoption of advanced recycling systems and regulation‐driven demand for recycled commodities.
✅ 2025 (June): Dow and Freepoint Eco‐Systems agreed on a large‐scale supply of certified‐circular plastic waste‐derived pyrolysis oil for conversion into virgin‐grade plastics at Dow's Gulf Coast operations marking a significant product‐level advancement in feedstock reuse.
Japan: Key Industry Developments (2026 & 2025)
✅ January 2026: Idemitsu's Chemical Recycle Japan (CRJ) completed construction of its first large‐scale chemical recycling plant at Ichihara (near Chiba), designed to process high volumes of plastic waste into recycled material supporting a circular economy.
✅ 2025 (August): In Japan, large‐scale mechanical and chemical recycling systems were developed by firms like Dai Nippon Printing to improve PET and mixed plastic recovery rates and reduce environmental impact.
✅ 2025 (July): Mitsubishi Chemical partnered with municipalities on urban plastic recycling programs, deploying integrated mechanical and chemical processing to enhance recycling throughput and resource efficiency.
Recent M&A activities:-
→ In February 2025, LyondellBasell acquired APK, a German solvent-based plastic recycling company, along with mechanical recycling assets in California for an undisclosed amount estimated at $250 million. This deal significantly expanded LyondellBasell's recycling portfolio across multiple processes, enhancing feedstock supply for circular economy initiatives.
→ In February 2025, AZEK Company acquired Northwest Polymers, a Pacific Northwest plastic recycling firm, for $85 million to bolster its FULL-CIRCLE PVC Recycling program. The acquisition targets post-construction waste processing, improving sustainable building materials production.
→ In January 2025, Loop Industries secured a $20.8 million financing and technology licensing partnership with Reed Societe Generale Group for European Infinite Loop deployment. This marks Loop's first commercial license sale for PET plastic recycling technology.
Key Players:-
Plastipak industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co., LTD., Nam Phong Industry, KW Plastics, Custom Polymers, MBA Polymers Inc. and Wellpine Plastic Industrial Co.,Ltd.
Top 5 Key Players Analysis:-
Plastipak Industries Inc. - A global leader in rigid plastic packaging and bottle-to-bottle recycling, operating dozens of facilities worldwide with advanced recycling operations integrated into packaging supply chains.
CarbonLITE Industries - One of the largest PET recycling producers in the U.S., known for producing high‐purity rPET resin used by beverage and packaging brands, making it a major volume contributor in PET recycling.
KW Plastics - Recognized as the largest recycler of HDPE and PP rigid plastics globally, with significant annual resin production capacity for packaging, automotive, and industrial applications.
Custom Polymers - Key recycler and supplier of mechanically recycled plastics, particularly in Asia‐Pacific and global composites markets, serving diverse industrial applications with mid‐tier market positioning.
MBA Polymers Inc. - Specializes in recycling complex mixed plastic wastes (e.g., from electronics and automotive shredder residue) into high‐value polymers, differentiating it from commodity recyclers.
Tech & Strategic Partnerships:-
1. Dow & Ambipar (Brazil) Expanded Strategic Alliance
• Dow and environmental solutions firm Ambipar signed an MoU to transform post‐consumer plastic into new products and scale polyethylene recycling.
• Targets to expand from 2,000 t/yr to 60,000 t/yr recycled resin by 2030 using advanced mechanical recycling tech.
• Focuses on integrated waste capture, logistics, and circular supply chain enhancements in Latin America.
2. Mitsubishi Chemical & Multi‐Partner Closed‐Loop Pact (Japan)
• Six‐party "Pla‐relay Project" launched to chemically recycle caps & plugs from salad dressing bottles in Ibaraki Pref.
• Partners include government, waste collectors, chemical manufacturers, packaging firms, food brands, and supermarkets.
• First of its kind in Japan driving supply chain‐wide closed‐loop recycling innovation.
3. IIT Kanpur & Pernod Ricard India Foundation Innovation Launchpad
• IIT Kanpur partnered with Pernod Ricard India Foundation to create "Advaya - The Plastic Circularity Innovation Launchpad."
• Incubates startups solving plastic waste tech challenges with grants & R&D support, accelerating scalable recycling solutions in India.
• Emphasizes research‐led entrepreneurship for circular technologies.
4. Tetra Pak, Recon Polymers & AVK Plastics (Europe)
• Strengthened partnership to recycle food & beverage carton plastics (PolyAl) into reusable polymers.
• Investment boosts recycling capacity and supports Europe's circular packaging goals.
• Demonstrates multilateral collaboration between packaging leaders and specialized recyclers.
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Market Drivers :-
⏩ Regulatory pressure and recycled content mandates now account for 55% of recycling investment drivers globally.
⏩ In India, the plastic credit market is projected to grow 70% to $1.67 billion by 2030 largely driven by EPR policies requiring brands to incorporate recycled content.
⏩ 81% of consumers now seek environmentally friendly packaging options, significantly boosting demand for recycled plastic feedstocks.
⏩ Sustainability preferences drive brands to adopt recycled content targets with many global consumer goods companies committing to 50%+ recycled content by 2025 in packaging alone.
⏩ AI‐enabled sorting systems have reduced contamination levels in recycled feedstock to 2%, improving material quality and commercial attractiveness.
⏩ There has been a global increase in chemical recycling plants (50+ commercial facilities in operation as of 2024), expanding the range of plastics that can be economically recycled.
⏩ The packaging sector remains the dominant end‐use segment, accounting for 45% of recycled plastic consumption (36 million tons annually).
⏩ The automotive industry is increasingly integrating recycled materials, responding to lightweighting and sustainability goals (e.g., significant uptake of recycled plastics for interiors and EV frameworks).
Regional Insights:-
Asia Pacific
Asia Pacific dominates the plastic recycling market with around 48.2% share, driven by strong manufacturing, high waste availability, and expanding recycling infrastructure. The region's growth is supported by major players in China, India, and Southeast Asia scaling recycling operations and policy incentives.
North America
North America holds roughly 33.2% of the global market share, underpinned by advanced recycling technologies and sustainability mandates. High consumer awareness and robust waste collection systems further strengthen the region's position.
Europe
Europe accounts for approximately 27.2% of the market, with stringent environmental regulations and circular economy initiatives boosting recycling adoption. Strong policy frameworks also encourage recycled content use across industries.
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Market Segmentation:-
By Material:
Polyethylene (PE): Widely used in packaging films, bags, and containers.
Polypropylene (PP): Common in automotive parts, packaging, and textiles.
Polystyrene (PS): Used in disposable cutlery, insulation, and packaging.
Polyethylene Terephthalate (PET): Popular for bottles, containers, and food packaging.
By Application:
Packaging: Includes bottles, films, containers, and wraps.
Automotive: Recycled plastics used in parts, interiors, and components.
Construction: Pipes, insulation, panels, and building materials.
FAQ'S:-
Q1: What drives growth in the plastic recycling market?
A1: Rising environmental awareness and government regulations boost demand for recycled plastics.
Q2: Which regions lead in plastic recycling?
A2: North America and Europe dominate due to advanced infrastructure and strict policies.
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