Recycled Plastic Market to hit US$ 95.5 Billion by 2031 | North America leads with 30% share | Major Companies 2026 - Covetsro AG, REMONDIS SE & Co. KG, Biffa

As per DataM intelligence research report "The 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."

The market is expanding due to rising focus on sustainability and circular economy practices. Recycled plastics reduce environmental impact and resource consumption. Government regulations and eco-friendly initiatives drive adoption.

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DataM Intelligence unveils exclusive insights into the Recycled Plastic Market 2026, highlighting emerging trends, growth drivers, and key regional opportunities for manufacturers, suppliers, and industry professionals worldwide

United States: Recent Developments

✅ In January 2026, ExxonMobil expanded its advanced recycling initiatives with new facilities converting plastic waste into feedstock for polymer production. The company is focusing on chemical recycling technologies to support circular economy goals. ExxonMobil continues investing in large-scale plastic recycling infrastructure.

✅ In December 2025, Dow Inc. launched new recycled plastic resins for packaging applications with improved performance and sustainability. The products are designed to meet increasing regulatory and consumer demand. Dow continues strengthening its circular plastics portfolio.

✅ In November 2025, LyondellBasell expanded its recycled polymer production capacity in North America through advanced recycling technologies. The company focuses on producing high-quality recycled plastics for various industries. LyondellBasell continues scaling its circular solutions business.

✅ In September 2025, Eastman Chemical Company advanced its molecular recycling technologies to process difficult-to-recycle plastic waste into new materials. The initiative supports sustainable packaging and reduces landfill waste. Eastman continues driving innovation in plastic recycling.

Japan: Recent Developments

✅ In January 2026, Mitsubishi Chemical Group expanded its recycled plastics production using advanced chemical recycling technologies. The company focuses on producing high-quality materials for automotive and packaging industries. Mitsubishi Chemical continues supporting circular economy initiatives.

✅ In December 2025, Sumitomo Chemical introduced new recycled plastic materials for packaging and industrial applications. The products emphasize sustainability and regulatory compliance. Sumitomo Chemical continues strengthening its eco-friendly product portfolio.

✅ In November 2025, Toray Industries expanded its recycled polymer solutions for textiles and industrial uses. The company focuses on reducing environmental impact and improving material performance. Toray continues advancing sustainable materials innovation.

✅ In September 2025, Teijin Limited enhanced its recycling technologies for engineering plastics used in automotive and electronics applications. The initiative supports resource efficiency and carbon reduction goals. Teijin continues investing in sustainable material solutions.

Recycled Plastic Market: Competitive Intelligence
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 and others.

Covestro 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., and other key participants are collectively strengthening the Recycled Plastic Market by advancing material recovery, circular economy practices, and supply chain integration for post‐consumer and post‐industrial plastics. Their combined efforts in collection, sorting, reprocessing, and commercialization of recycled polymers help increase feedstock availability for manufacturers seeking sustainable alternatives to virgin plastics. By investing in advanced technologies-such as chemical recycling, high‐efficiency sorting systems, and contamination reduction processes-these companies support improved quality and performance of recycled plastic resins, enhancing their competitiveness across automotive, packaging, consumer goods, and industrial end markets. Their global networks also help balance regional supply‐demand dynamics, reduce environmental impact, and support corporate sustainability commitments. Together, they reinforce the Recycled Plastic Market as an essential driver of resource circularity and environmental stewardship.

Individually and in combination, these organizations' strengths create competitive differentiation and momentum within the Recycled Plastic Market by providing complementary capabilities across the value chain. Covestro AG and Shell International B.V. integrate recycled polymer solutions into broader materials portfolios, enabling brand and OEM adoption of circular resin alternatives. REMONDIS, Veolia, Republic Services, WM, Biffa, and Waste Connections bring extensive collection and waste management infrastructure that underpins consistent supply of recyclable plastic streams at scale. Stericycle and Clean Harbors contribute specialized hazardous and regulated waste handling expertise that ensures safe processing pathways for complex or contaminated plastic waste. This blend of advanced materials innovation, robust logistics, and responsible waste handling supports improved economics and quality outcomes for recycled plastics. Together, their collaborative impact helps accelerate adoption, improve performance standards, and drive growth in the Recycled Plastic Market as demand for sustainable materials continues to expand across industries.

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Segment Covered in the Recycled Plastic Market:
By Type
The market is segmented into post-consumer recyclate 60% and industrial recyclate 40%, with post-consumer recyclate dominating due to increasing focus on sustainability, circular economy practices, and regulatory mandates for recycled content. Industrial recyclate is growing with adoption in manufacturing and controlled production processes. Rising consumer awareness and corporate sustainability initiatives drive market growth.

By Plastic Type
Plastic types include polyethylene (PE) 25%, polyethylene terephthalate (PET) 20%, polypropylene (PP) 20%, polyvinyl chloride (PVC) 10%, polystyrene (PS) 10%, and others 15%, with PE and PET dominating due to widespread usage in packaging, bottles, and films. PP is growing in automotive and industrial applications. PVC and PS are gaining traction in construction and specialty applications. Increasing demand for recycled plastics in packaging and consumer goods supports adoption.

By Source
Sources include bottles 30%, films 25%, foams 15%, fibers 15%, and others 15%, with bottles and films dominating due to high availability of post-consumer waste and ease of collection and processing. Foams and fibers are gaining adoption in specialized applications such as textiles and insulation. Growing waste management infrastructure and recycling awareness drive market expansion.

By Process
Processes include mechanical recycling 70%, chemical recycling 20%, and others 10%, with mechanical recycling dominating due to cost-effectiveness, scalability, and established technology. Chemical recycling is growing rapidly for hard-to-recycle plastics and enhancing material quality. Innovation in recycling technologies and investment in circular solutions support market growth.

By End-User
End-users include packaging 35%, building & construction 20%, automotive 15%, electrical & electronics 10%, textiles 10%, and others 10%, with packaging dominating due to high demand for sustainable packaging solutions. Building & construction and automotive sectors are growing with increasing use of recycled plastics in pipes, panels, and automotive components. Consumer demand for eco-friendly products drives adoption across industries.

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Regional Analysis
North America - 30% Share
North America leads with 30% share due to strong regulatory frameworks and high recycling infrastructure in the United States and Canada. Post-consumer recyclate dominates. PE and PET are primary plastic types. Mechanical recycling is widely used. Packaging and automotive applications lead. Government incentives and corporate sustainability initiatives drive growth.

Europe - 25% Share
Europe holds 25% share driven by strict recycling mandates and circular economy policies in Germany, France, and the UK. Post-consumer and industrial recyclates are widely used. PE, PET, and PP dominate. Mechanical and chemical recycling are key processes. Packaging, construction, and automotive sectors lead applications. Strong policy support and consumer awareness fuel market expansion.

Asia-Pacific - 25% Share
Asia-Pacific accounts for 25% share due to growing recycling infrastructure and manufacturing demand in China, India, Japan, and Southeast Asia. Post-consumer recyclate dominates. PE, PET, and PP are widely adopted. Mechanical recycling is primary, with chemical recycling growing. Packaging and automotive are key end-users. Urbanization and industrial growth drive demand.

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✅ Competitive Landscape
✅ Technology Roadmap Analysis
✅ Sustainability Impact Analysis
✅ KOL / Stakeholder Insights
✅ Consumer Behavior & Demand Analysis
✅ Import-Export Data Monitoring
✅ Live Market & Pricing Trends

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