Press release
United States Plastic Recycling Market to Reach US$ 18.06 Billion by 2031| North America leads with 30% share | Top Companies - Plastipak industries Inc., CarbonLITE Industries, HUD Group
Plastic recycling global market size
As per DataM intelligence research report "Global Plastic recycling global market size reached USD 28.3 billion in 2022 and is expected to reach USD 60.2 billion by 2031, growing with a CAGR of 8.9% during the forecast period 2024-2031."
Growth is supported by regulatory pressure, environmental awareness, and demand for circular economy solutions. PET, HDPE, and mixed plastic recycling dominate processes. Municipal and industrial sectors are primary end-users. Advances in chemical recycling and mechanical recycling technologies drive market expansion.
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Plastic Recycling Market: Competitive Intelligence
Plastipak industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co., LTD., Nam Phong Industry, KW Plastics
The Plastic recycling global market size is being positively influenced by Plastipak Industries Inc., CarbonLITE Industries, HUD Group, Plastima, Iavglobal Co., LTD., Nam Phong Industry, and KW Plastics as these companies collectively expand recycling capacity, material recovery, and circular supply chains. Their activities support higher collection rates, improved processing efficiency, and consistent supply of recycled plastics for packaging, consumer goods, and industrial applications. By converting post-consumer and post-industrial plastic waste into usable raw materials, these players strengthen the sustainability, resilience, and economic viability of the Plastic Recycling Market. This collective contribution accelerates the shift toward circular plastics usage across global markets.
Together, these companies create strong momentum within the Plastic Recycling Market by combining large-scale recycling operations with regional processing expertise and downstream integration. Plastipak Industries Inc., CarbonLITE Industries, and KW Plastics drive volume and consistency in recycled PET and other polymers, supporting brand owners' sustainability targets. HUD Group, Plastima, Iavglobal Co., LTD., and Nam Phong Industry complement this scale with regional recycling networks, specialized processing, and flexible supply capabilities. This combination enhances market competitiveness, stabilizes recycled material pricing, and encourages broader adoption of recycled plastics across end-use industries.
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Fund Raisings
✅ January 2026 - Loop Industries, Inc. (North America)
Loop Industries raised $60 million to expand its PET plastic recycling technology and production capacity. The funding supports scaling up circular economy solutions and sustainable packaging initiatives.
✅ December 2025 - Veolia Environnement S.A. (Europe)
Veolia directed $55 million toward enhancing its plastic recycling infrastructure and chemical recycling R&D. The investment strengthens European recycling plants and high-value recycled polymer production.
✅ November 2025 - Recycling Technologies Ltd. (Europe)
Recycling Technologies invested $40 million to scale plastic depolymerization and recovery technology. The funding focuses on increasing efficiency, reducing emissions, and expanding market reach.
Product Launches & Partnerships
✅ January 2026 - Loop Industries, Inc. (North America)
Loop Industries launched advanced PET recycling technology for food-grade and industrial packaging. The product improves polymer recovery rates and reduces reliance on virgin plastics.
✅ December 2025 - Veolia Environnement S.A. (Europe)
Veolia introduced new chemical recycling processes for multi-layer plastics and flexible packaging. The launch enhances circular economy adoption and supports sustainability targets.
✅ October 2025 - Recycling Technologies Ltd. (Europe)
Recycling Technologies unveiled upgraded depolymerization units for converting mixed plastics into high-quality feedstock. The products focus on reducing waste, emissions, and operational costs.
Mergers & Acquisitions
✅ January 2026 - Loop Industries, Inc. (North America)
Loop expanded its portfolio through acquisition of a plastic-to-PET recycling startup. The move strengthens technological capabilities and production capacity for sustainable packaging.
✅ November 2025 - Veolia Environnement S.A. (Europe)
Veolia acquired a European plastic recycling facility to increase throughput and recycled polymer quality. The acquisition supports circular economy strategies and regional market growth.
✅ October 2025 - Recycling Technologies Ltd. (Europe)
Recycling Technologies completed a strategic acquisition of a specialty plastics recovery company. The deal enhances innovation, feedstock variety, and environmental performance.
Segment Covered in the Plastic Recycling Market:
By Material
The market is segmented into polyethylene (PE) 35%, polypropylene (PP) 25%, polystyrene (PS) 15%, and polyethylene terephthalate (PET) 25%, with PE and PET dominating due to high usage in packaging, bottles, and consumer goods. PP is growing with automotive and industrial applications, while PS is emerging in specialty and consumer products. Increasing demand for sustainable materials and circular economy initiatives drive market adoption.
By Application
Applications include packaging 50%, automotive 20%, construction 15%, and others 15%, with packaging dominating due to high plastic consumption in food, beverage, and consumer goods industries. Automotive and construction applications are growing with lightweighting initiatives and sustainable building material adoption. Recycling regulations, environmental awareness, and government policies support market growth.
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Regional Analysis
North America - 30% Share
North America leads with 30% share due to adoption in the U.S. and Canada. PE and PET dominate materials. Packaging applications lead, with automotive and construction growing. Regulatory mandates, sustainability initiatives, and corporate recycling programs drive market growth.
Europe - 25% Share
Europe holds 25% share driven by adoption in Germany, U.K., France, and Italy. PE and PET dominate. Packaging applications lead, with automotive and construction adoption growing. EU circular economy policies and recycling targets support market expansion.
Asia Pacific - 30% Share
Asia Pacific accounts for 30% share due to adoption in China, India, Japan, and South Korea. PE and PP dominate. Packaging applications lead, with automotive and construction applications growing. Industrial growth, urbanization, and government recycling programs drive market expansion.
Latin America - 5% Share
Latin America records 5% share with adoption in Brazil, Mexico, and Argentina. PE dominates. Packaging applications lead, with automotive and construction emerging. Growing environmental awareness and recycling initiatives support growth.
Middle East & Africa - 10% Share
Middle East & Africa hold 10% share due to adoption in UAE, Saudi Arabia, and South Africa. PE and PET dominate. Packaging applications lead, with automotive and construction applications emerging. Infrastructure development and government recycling initiatives drive market adoption.
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✅ Sustainability Impact Analysis
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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