According to a market report by Lucintel, the future of the recycled plastic market looks promising with opportunities in the packaging, textiles, building & construction, automotive, and electrical & electronics industries. The global recycled plastic market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028. The major drivers for this market are increasing plastic consumption in the production of lightweight components in various industries, growing acceptance and consumption of recycled plastics in the textile industry, increasing usage in packaging, automotive, and electrical & electronics industries, and development of cost-effective and sophisticated recycling technologies.
In this market, polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, and polystyrene are the major segments of recycled plastic market by product type. Lucintel forecast that polyethylene will remain the largest segment over the forecast period due to the high demand for packaging material in consumer goods, food & beverage, industrial, and various other industries. Also, it is commonly used in laundry detergent packaging, milk cartons, cutting boards, and garbage bins, among various other applications.
Within this market, packaging is expected to remain the fastest growing segment due to the rising demand for packaged foods & beverages, electrical & electronics, and textiles, rapid growth of e-commerce across the globe, and the volume of orders through e-commerce platforms have increased dramatically that resulted in the extensive use of recycled plastic for the packaging of products.
APAC will remain the largest region due to rapid growth of the food and beverages, electrical and electronics, automotive, e-commerce industry, and several other industries that have significantly contributed towards the growing consumption of recycled plastics in this region. The rising development of non-residential construction projects, including hospitals, commercial buildings, malls, schools, and colleges will drive the demand for plastics in the roofing tiles, insulation, fences, floor tiles, carpets, and various other construction applications.
Indorama Ventures Public, Biffa, Stericycle, Republic Services, WM Intellectual Property Holdings, Veolia, Shell International BV, Waste Connections, Clean Harbors, and Covetsro AG are the major suppliers in the global recycled plastic market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global recycled plastic market by product type, source, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Recycled Plastic Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global recycled plastic market by product type, source, end use industry, and region, as follows:
Recycled Plastic Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Polyethylene
· Polyethylene Terephthalate
· Polypropylene
· Polyvinyl Chloride
· Polystyrene
· Others
Recycled Plastic Market by Source [Value ($B) Shipment Analysis from 2017 to 2028]:
· Bottles
· Films
· Fibers
· Foam
· Others
Recycled Plastic Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
· Building & Construction
· Packaging
· Electrical & Electronics
· Textiles
· Automotive
· Others
Recycled Plastic Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Recycled Plastic Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the recycled plastic market by product type (polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and others), source (bottles, films, fibers, foams, and others), end use industry (building & construction, packaging, electrical & electronics, textiles, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?