Recycled Plastics Market Analysis

Product (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene)

Polyethylene terephthalate segment is set to capture over 32% recycled plastics market share by 2037. The large-scale adoption of PET for packaging various products and bottling is the major factor resulting in segment growth. It is lightweight, can be recycled easily, and has higher durability. Moreover, the government is supporting to use of recycled PET instead of virgin PET for packaging bottles and other beverages.

Recycled PET has various other applications including manufacturing furniture, carpets, and fibers. According to the International Bottled Water Association, more than 1.5 billion pounds of used PET plastic bottles and containers majorly containing beverage bottles and cosmetics containers are recovered in the United States each year for recycling.

Source (Plastic Bottles, Films, Foams, Fibers)

By the end of 2037, plastic bottles segment is expected to capture around 45% recycled plastics market share. The segment growth can be attributed to the large-scale use of plastic bottles for the packaging of soft drinks, water, cosmetics, oils, pharmaceuticals, and others.

 The majority of the plastic waste generated is from packaged drinking water. Recycled plastic is used for manufacturing drinking bottles with the cause of saving our environment. Moreover, the government has introduced various regulations which state the compulsory use of recycled plastic for manufacturing water bottles. As per a recent report issued in 2021, around 1.3 billion plastic bottles are used every single day worldwide, which is about 1 million per minute.

Application (Packaging, Building & Construction, Textiles, Electronics, Automotive)

In recycled plastics market, packaging segment is expected to account for around 37% revenue share by 2037. The segment growth is due to the increasing adoption of recycled plastic for various applications majorly plastic containers leading to rapid growth of e-commerce worldwide.

The massive orders received through e-commerce platforms have increased progressively leading to the large-scale use of recycled plastic for product packaging, resulting in segment growth. For instance, the world produces around 141 million tonnes of plastic packaging a year which contributes to 1.8 billion tonnes of carbon emissions annually.

Our in-depth analysis of the recycled plastics market includes the following segments: