DELRAY BEACH, Fla., Oct. 29, 2024 /PRNewswire/ — The report “Post-Consumer Recycled Plastics Market by Source (Bottles, Non-bottle Rigid), Polymer Type, Processing Type (Mechanical, Chemical, Biological), End-use (Packaging, Building & Construction, Automotive, Electronics), and Region – Global Forecast to 2029″. The post-consumer recycled plastics market size is projected to grow from USD 71.44 billion in 2024 to USD 106.97 billion by 2029, at a CAGR of 8.4%.
The demand of post-consumer recycled plastics is being driven by various factors. The increased awareness of the environmental issues and the need to reduce plastic wastage have led to an increased focus on recycling activities and usage of eco-friendly material. The governments around the globe are backing this trend by implementing stringent regulations aimed at reducing plastic pollution, thus forcing industries to use recycled plastics in their products. At the same time, corporations are also establishing new sustainability targets, which have led to improvement of the utilization of post-consumer recycled content in their products. Consumers are also playing a crucial role to meet this demand as their preference for eco-friendly and sustainable products is pushing manufacturers to adopt more recycled plastics. Also, recycling technologies have advanced and the quality, and the availability of the recycled plastics have increased, and this has made the recycled plastics to be attractive to many industries. These innovations have enabled organisations to incorporate recycled material in their products without necessarily having to reduce the quality of the products, which has helped to boost the use of post-consumer recycled plastics.
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150 – Tables
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290 – Pages
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By Source, Bottles to be the fastest-growing source during the forecast period.
Bottles are among the most common source of recycled plastics, owing to their high usage and visibility in plastic waste streams. Bottled beverages and household items produce a significant number of wasted plastic bottles, making them easily recyclable. Furthermore, the plastic bottles shape and composition are uniform, making recycling easier because they can be simply separated and processed. This homogeneity promotes the development of post-consumer recycle plastics that may be fed back into the manufacturing process, hence reducing the need of virgin plastic resources. Bottle recycling has the following benefits: first, it prevents plastic trash from ending up in landfills, and second, it promotes environmental sustainability and resource conservation. Finally, bottles have an essential role in the circular economy, with a significant influence on the percentages that attempt to reduce the impact of plastic trash.
The High-density Polyethylene (HDPE) polymer type is expected to be the 3rd largest market in post-consumer recycled plastics market during forecast period.
High-Density Polyethylene (HDPE) is one of the most often recycled forms of plastic, owing to its favorable characteristics and effective recycling mechanisms in place. Its strength and endurance make it ideal for mechanical recycling, which involves sorting, cleaning, and reprocessing. HDPE can be recycled into new products with little degradation of quality, maintaining much of its original strength and usability. Its adaptability allows it to be employed in a variety of applications, including packaging and containers, as well as consumer items. This extensive usage of HDPE generates a significant amount of post-consumer waste, assuring a steady supply of materials for recycling operations. Furthermore, the increasing need for HDPE across various industries makes its recycling not only good to the environment but also commercially viable, strengthening its continuous relevance in the circular economy.
The chemical recycling process is expected to experience significant growth during the forecast period.
The post-consumer recycled plastics market has seen a shift towards chemical processing as it can deal with more complicated and contaminated plastic waste streams. Chemical recycling provides a much more flexible alternative to mechanical recycling which has a hard time with sorting and processing mixed/contaminated plastics. Through advanced processes like chemolysis or pyrolysis, these technologies can break down plastics into their fundamental molecular components, regardless of their initial complexity or contamination. Chemical recycling gets around many of the limitations mechanical recycling has, such as the sorting that is required and the compatibility with other plastics, and therefore more waste could be recycled. So chemically recycled plastics are of great quality and can be used for many things, which will open the door to some new, green breakthroughs in that area.
By End-use Application, Packaging accounts for the fastest-growing application during the forecast period.
Recycled plastics primarily serve a crucial application in packaging because of the packaging industry’s significant influence on tackling sustainability issues. The demand of post-consumer recycled plastics is high within this sector as it correlates with the growing focus on minimizing plastic waste and promoting environmental accountability. By utilizing recycled plastics, packaging manufacturers can satisfy consumer demands for eco-friendly products and play a prominent role in circular economy efforts. The adaptability of recycled plastics enables them to substitute virgin plastics in numerous packaging formats, including bottles, containers and films. This offers a practical solution to mitigate the environmental repercussions of packaging waste, although it also fosters a more sustainable industry landscape. However, challenges remain, which require continued innovation and commitment.
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Asia-Pacific is the largest market during the forecast period.
Asia-Pacific has emerged as the largest market for post-consumer recycled plastics because of its rapid urbanization and large population pool. The region’s rapid urbanization leads to increasing plastic usage, which results in enormous plastic trash creation. As cities grow, so does the demand for sustainable waste management solutions, making post-consumer recycled plastics critical to addressing environmental issues. Furthermore, the large population increases demand for consumer products and packaging, making recycled plastics an appealing option for meeting environmentally conscious consumer preferences and regulatory needs. These factors combined to position the Asia-Pacific market as a significant participant in the acceptance and integration of post-consumer recycled plastics, resulting in more ecologically responsible and resource-efficient societies.
The report profiles key players such as Veolia (France), Suez SA (France), WM Intellectual Property Holdings, L.L.C. (US), Republic Services (US), Waste Connections, Inc. (Canada), Biffa (UK), Clean Harbors, Inc. (US), Stericycle, Inc. (US), Remondis SE & Co. KG (Germany), and DS Smith plc (UK).
Browse Adjacent Market: Packaging Market Research Reports & Consulting
Related Reports:
Recycled Plastics Market– Global Forecast to 2030
Recycled PET Market – Global Forecast to 2028
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