Global Recycled Plastics Market Size Report, 2022 - 2030
Recycled Plastics Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030

Recycled Plastics Market Share, Size, Trends, Industry Analysis Report, By Type (Polyethylene (PE), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Others); By Source; By End-Use; By Region; Segment Forecast, 2022 - 2030

  • Published Date:Sep-2022
  • Pages: 112
  • Format: PDF
  • Report ID: PM2609
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Outlook

The global recycled plastics market was valued at USD 46,752.4 million in 2021 and is expected to grow at a CAGR of 7.4% during the forecast period. Recycled plastics involve reusing and recovering plastic waste to develop functional and valuable products. They are obtained through sorting and cleaning plastic waste, followed by identifying, extruding, and reprocessing. The application of the industry has increased in the packaging, textiles, automotive, and construction sectors.

Recycled Plastics Market Size

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Several countries across the globe are introducing regulations to promote the adoption of the industry. In January 2021, a plastic tax associated with plastic packaging, which has not been recycled, was announced by E.U. The U.K. also introduced a charge on plastic packaging not comprising 30% recycled content by April 2022. Similar regulations have been introduced in the U.S., with California driving the adoption. California announced a minimum recycled plastic content of 15% in PET bottles to be applied from 2022.

The E.U. Strategy for Plastic in a Circular Economy aims to embrace a material-specific lifecycle approach for the integration of using, reusing, and recycling activities into plastic value chains. The Strategy aims to achieve 100% reusable or recyclable plastic use in the packaging in the E.U. market by 2030.

The COVID-19 outbreak restricted the growth of the recycled plastics market. Negative impact on industries such as automotive, construction, and electronics resulted in decreased demand for the industry. The industry faced disruption of the supply chain, workforce impairment, limitations in waste collection, and restricted manufacturing activities. However, the industry is expected to grow significantly in the coming years on account of supportive government regulations and favorable environmental policies.

Industry Dynamics

Growth Drivers
Recycled plastics are used in packaging, automotive, construction, textile, electrical & electronics, and others. Greater environmental concerns, strict regulations regarding packaging waste, and implementation of new recycling techniques support the growth of the industry. Technological advancements, supportive government initiatives, and rising investments in R&D have further increased the demand.

Initiatives taken by several companies operating in the market to reduce their carbon footprint also support market growth. For instance, in January 2020, Nestlé invested significantly to support the shift from virgin plastics to food-grade plastic. The company also works toward the advancement of innovative sustainable packaging solutions. In 2018, Nestlé announced to create 100% of its packaging recyclable or reusable by 2025 while also decreasing the use of virgin plastics by 33%.

Report Segmentation

The market is primarily segmented based on type, source, end-use, and region.

By Type

By Source

By End-Use

By Region

  • Polyethylene (PE)
  • Polyvinyl Chloride (PVC)
  • Polyethylene Terephthalate (PET)
  • Polypropylene (PP)
  • Polystyrene (PS)
  • Others
  • Foams
  • Films
  • Bottles
  • Fibers
  • Others
  • Packaging
  • Automotive
  • Construction
  • Textile
  • Electrical & Electronics
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Polyethylene Terephthalate segment is expected to account for the largest market share

Based on type, the recycled plastics market has been segmented into polyethylene (PE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polypropylene (PP), polystyrene (PS), and others. The polyethylene terephthalate segment accounted for a major share in 2021, owing to its use in food packaging and bottles.

PET is transparent, durable, light, and completely recyclable. Due to its non-toxicity, lightweight, and ease of recycling, it is in high demand for use in the packaging of food and beverage goods. Bottled water and beverage manufacturers have switched from using virgin PET to recycled PET for manufacturing packaging bottles as a result of regulations implemented by governments worldwide.

Bottles accounted for a major share in 2021

The different sources of recycled plastics include foams, films, bottles, fibers, and others. The bottles segment accounts for a major market share owing to its easy availability and efficient collection network. Bottles are widely used in the packaging of water, carbonated drinks, medicines, and pharmaceuticals, among others, making it easier to sort and recycle.

Foam is used as a lightweight core material across several industries, such as wind energy and power, marine, industrial, and transportation, among others. PET foam is also used in the building and construction sector owing to its fire resistance, thermal insulation, and corrosion resistance.

Packaging segment expected to dominate the global market

On the basis of the end-use industry, the global recycled plastics market is segmented into packaging, automotive, construction, textile, electrical & electronics, and others. The packaging segment accounted for a significant market share in 2021. It is increasingly being used in packaging solutions for food and beverages, consumer goods, and electronic devices. Greater environmental concerns combined with a rise in consumer awareness regarding recycling and packaging waste disposal support the growth of this segment.

Market players are taking initiatives to develop recycled packaging solutions to reduce the environmental impact associated with packaging. In May 2022, Trioworld collaborated with Lidl Sweden for the introduction of post-consumer recycled (PCR) plastic film for application in frozen food packaging.

The solution involves a 5-layer concept to be used for packaging Lidl Sweden’s cinnamon buns and cardamom buns. The packaging comprises 30% recycled PCR, offers 100% recyclability, and meets the standards set by the European Regulations for Food Contact Material.

Asia Pacific accounted for a major share in 2021

Asia Pacific dominated the global recycled plastics market in 2021. Economic growth, industrialization, and urbanization support the growth of the market. Greater use of plastics in the manufacturing sector, growth in automotive penetration, and wider application in construction and development activities boost the adoption of the industry in Asia Pacific. Construction of residential & commercial projects and significant investments in infrastructure development also contribute to the growth.

Increasing environmental concerns and initiatives to adopt sustainable solutions have increased the adoption of the industry in the region. In September 2021, India developed a plastics pact, which is an initiative to encourage businesses to support a circular system for plastics.

The India Plastics Pact is a collaboration between the Confederation of Indian Industry and WWF India and supported by UK Research and Innovation (UKRI) and WRAP to achieve targets such as the use of 100% reusable or recyclable plastic packaging and effective recycling of 50% of plastic packaging by 2030.

Competitive Insight

Major players in the recycled plastics market are Alpek S.A.B. de C.V., Biffa plc, Custom Polymers, Envision Plastics Industries, Far Eastern New Century, Green Line Polymers, Indorama Ventures, Jayplas, KW Plastics, Plastipak Holdings, Republic Services, Stericycle, Suez, Ultra Poly Corporation, and Veolia Polymers. These prominent market players are launching new products to address growing environmental concerns. Collaboration with private and public organizations enable entering new markets and exploring advanced technologies.

Recent Developments

In November 2021, the commercialization of Honeywell's "UpCycle Process Technology" plastic recycling method was announced.

In October, 2021, ExxonMobil announced the construction of its facility for advanced recycling of plastic trash at its Baytown, Texas plant. By the end of 2022, the plastic recycling facility is anticipated to be operational. With an initial planned capacity to recycle 30,000 metric tonnes of plastic trash per year, the plant is expected be one of the biggest plastic waste recycling facilities in North America.

In September 2021, Sumitomo Chemical introduced Meguri, which is a new brand incorporating plastic products that are developed using recycling technology. The brand includes several recycled plastic products, such as acrylic resin, polyethylene and polypropylene. The new launch enabled the company to cater to the growing industry need for sustainable solutions and reduce of greenhouse gas emissions.

In October 2019, Dow launched a new resin, AGILITY CE, comprising 70 percent recycled plastic. This resin is made of low-density polyethylene and recycled plastic shrink film. The product is aimed at expanding the company’s portfolio of sustainable solutions.

Recycled Plastics Market Report Scope

Report Attributes


Market size value in 2022

USD 48, 996.53 million

Revenue forecast in 2030

USD 86, 968.51 million


7.4% from 2023 - 2030

Base year


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Segments covered

By Type, By Source, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Alpek S.A.B. de C.V., Biffa plc, Custom Polymers, Envision Plastics Industries, Far Eastern New Century, Green Line Polymers, Indorama Ventures, Jayplas, KW Plastics, Plastipak Holdings, Republic Services, Stericycle, Suez, Ultra Poly Corporation, and Veolia Polymers.