Recycled Plastic Market Growth | Trends, Forecast, and Industry Demand 2025 | DataM Intelligence

The Global Recycled Plastic Market is expected to reach at a CAGR of 8.9% during the forecast period 2024-2031.

AUSTIN, TX, UNITED STATES, June 4, 2025 /EINPresswire.com/ -- The Global Recycled Plastic Market is experiencing significant growth, driven by technological innovations, stringent environmental regulations, and increasing consumer demand for sustainable products. According to recent industry reports, the market is projected to reach USD 95.5 billion by 2031, expanding at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2031.

Market Overview:

Recycled plastics are derived from post-consumer and post-industrial plastic waste, processed through mechanical or chemical recycling methods to produce new plastic products. This process not only reduces the environmental impact of plastic waste but also conserves natural resources by decreasing the need for virgin plastic production.

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Market Drivers and Opportunities:

Several factors are contributing to the growth of the recycled plastics market:

Technological Advancements: Innovations in recycling technologies, such as enzymatic recycling and pyrolysis, are enhancing the efficiency and scalability of plastic recycling processes. For instance, Carbios has developed an enzyme capable of breaking down PET plastics into their monomers, facilitating the production of high-quality recycled materials.

Regulatory Support: Governments worldwide are implementing policies to promote plastic recycling. The European Union's €800-per-ton tax on non-recycled plastic packaging has incentivized the use of recycled materials, leading to a 25% increase in demand.

Consumer Demand: Increasing awareness among consumers about environmental issues has led to a surge in demand for products made from recycled plastics, particularly in packaging, automotive, and construction industries.

Market Segmentation:

By Type
Post Consumer Recyclate
Industrial Recyclate.

By Plastic Type
Polyethylene
Polyethylene Terephthalate
Polypropylene
Polyvinyl Chloride
Polystyrene
Others.

By Source
Bottles
Films
Foams
Fibers
Others.

By Process
Mechanical
Chemicals
Others.

By End-User
Building & Construction
Packaging
Electrical & Electronics
Textiles
Automotive
Others.

By Region
North America
Europe
South America
Asia Pacific
Middle East
Africa.

Regional Market Share:

The Asia Pacific region dominates the global recycled plastics market, holding over 60% of the market share. This is attributed to the region's large manufacturing base, robust recycling infrastructure, and supportive government policies.

Key Market Players:

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.

Recent Developments:

United States
ExxonMobil's Expansion: In November 2024, ExxonMobil announced a $200 million investment to expand its plastic recycling operations in Texas, aiming to process up to 1 billion pounds of plastic waste annually by 2027.

Carbios' Enzymatic Recycling Facility: In 2023, Carbios opened its first industrial-scale enzymatic recycling facility in France, marking a significant step toward the commercialization of enzymatic recycling technologies.

Japan
In November 2024, Japan launched a consortium aimed at developing a market for recycled plastics in automotive applications, aligning with the European Union's End-of-Life Vehicles Directive.

In April 2024, Asahi Kasei Corporation and Microwave Chemical Co., Ltd. launched a cooperative demonstration project to commercialize a chemical recycling method for Polyamide 66 that use microwave technology.

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Conclusion:

The Global Recycled Plastic Market is on a robust growth trajectory, fueled by technological innovations, supportive regulatory frameworks, and increasing consumer demand for sustainable products. As companies and governments continue to invest in recycling technologies and infrastructure, the market is poised to play a pivotal role in the transition toward a circular economy.

Related Reports:

Ceramide Market

Plywood Adhesives Market

Sai Kiran
DataM Intelligence 4Market Research
+1 877-441-4866
Sai.k@datamintelligence.com
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