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Global Recycled Plastics Market Projected to Reach $57.71 Billion by 2030
The Global Recycled Plastics Market, valued at $31.77 billion in 2023, is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 8.9%, reaching approximately $57.71 billion by 2030. This growth is driven by increasing plastic consumption in lightweight components across industries such as automotive, building & construction, and electrical & electronics.
Competitive Landscape
The recycled plastics industry is characterized by significant competition, with key players focusing on innovation, strategic partnerships, and mergers and acquisitions to enhance their market positions. Leading companies such as Indorama Ventures, Veolia, Suez, and Jayplas are investing heavily in expanding their recycling capacities and developing advanced recycling technologies.
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Regional Demand Highlights
The Asia-Pacific region dominates the recycled plastics market, accounting for over 45% of the global share in 2023
This dominance is attributed to the region's robust manufacturing industries and increasing awareness of sustainable practices.
The United States recycled plastics market is experiencing consolidation, with companies focusing on mergers and acquisitions to strengthen their market positions. For instance, WM Recycle America, LLC plans to acquire Avangard Innovative’s U.S. operations, aiming to boost recycling capacity and target an impressive 400 billion pounds of post-consumer resin annually within five years.
Vietnam: Recycled Plastics Opportunities
Vietnam is emerging as a potential hub for plastic recycling, driven by government initiatives and increasing foreign investments. The country's commitment to reducing plastic waste and promoting a circular economy presents significant opportunities for recycled plastics manufacturers.
by Product
Bottles
Films
Fibers
Foams
Others
by Plastic Type
Polyethylene Terephthalate (PET)
Polyethylene (PE)
Polyvinyl Chloride (PVC)
Polypropylene (PP)
Polystyrene (PS)
Others
by Application
Packaging
Building & Construction
Textile
Automotive
Electrical & Electronics
Others
by Process
Mechanical
Chemical
by Type
Post-Consumer Recyclate
Industrial Recyclate
North America
1. Clear Path Recycling
2. Plastipak
3. Republic Services
4. Stericycle
5. B. Schoenberg
6. Waste Connections
7. MBA Polymers
Europe
8. Suez Environment
9. Jayplas
10. Biffa
11. Remondis
12. Plastic Recycling Amsterdam
13. Resiclo
APAC
14. Indorama Ventures
15. Far Eastern New Century
16. Asia Plastic Recycling Holdings
17. Jeplan
18. KK Plastic Waste Management
19. Srichakra Polyplast
Middle East and Africa
20. Saudi Investment Recycling
21. Tadweer Group
22. Renie
23. Kaltani
24. Pakam
South America
25. Lar Plásticos
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Article source: https://article-realm.com/article/Business/71820-South-Koreas-Investments-Boost-Recycled-Plastics-Opportunities.html
URL
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