Recycled Plastics Market Size

Recycled Plastics Market size was over USD 64.2 Billion in 2023 and is anticipated to exceed USD 106.1 Billion by the end of 2036, growing at over 8.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of recycled plastics is evaluated at USD 72.2 Billion.

With the growing awareness regarding environmental and energy concerns, countries across the world have started focusing on reducing greenhouse gas emissions. Plastic products can serve the purpose of ensuring that achieve greener and more sustainable living standards. These products require much less energy in the manufacturing process as compared to other materials. Various applications like construction, transport, electronics, and packaging require less energy. According to report published by Plastivision in 2021, emissions of greenhouse gases could increase by 61% if plastics are replaced with alternative materials and it can also boost lifecycle energy consumption by 57%.