Post-consumer Recycled Plastics Market Size, Share, Trends, Growth and Forecast 2030

With a compound annual growth rate (CAGR) of around 6.89% between 2023 and 2030, the global post-consumer recycled plastics market estimated to be worth around USD 60.98 billion in 2022, is expected to reach roughly USD 103.92 billion by 2030.

Post-consumer recycled plastics are made from plastics that consumers have already used and discarded after usage. Once more, these used plastics are processed and transformed into new goods. All of the plastics gathered through commercial and residential recycling programs are classified as post-consumer plastics. Plastic molding factories receive the gathered plastics and use them to create new items. By keeping these post-consumer recycled plastics out of landfills and recycling them, the items generated from them complete the cycle.

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Global Post-consumer Recycled Plastics Market: Growth Factors

The global post-consumer recycled plastics market is expanding due in large part to government regulations that are becoming more and more stringent about waste and disposal management. Additionally, the global market has grown dramatically as a result of increased awareness of the negative environmental effects of accumulating plastic trash. The demand for recycled plastic is expected to rise during the forecast period due to the increasing use of plastic in the production of lightweight components used in many industries, including food processing, automotive, and construction. Because of the sharp increase in online sales of cosmetics, PPE, and personal hygiene items, the coronavirus pandemic has greatly increased the demand for post-consumer recycled plastic packaging products.

Global Post-consumer Recycled Plastics Market: Segmentation

Segmenting the worldwide post-consumer recycled plastics market based on source, type, and geography is possible. Polyethylene, terephthalate, polyurethane, polyvinyl chloride, polyethylene, polystyrene, polypropylene, and other types can be used to segment the market. Thanks to its exceptional resistance to chemicals including alcohols, solvents, alkalis, and diluted acids, polyethylene holds the greatest proportion of the global post-consumer recycled plastics industry. It is mostly used to make laminated films, tubes, and plastic parts that are used in packaging, automotive, and electrical industries. Since polypropylene has great mechanical and chemical properties, it is widely used in the manufacturing of automotive components, packing, labeling, and various laboratory equipment. As a result, the polypropylene segment is expected to develop significantly throughout the projected period.

The market can be divided into non-bottles, bottles, and others based on the source. Since plastic bottles are the main source of post-consumer recycled products, the bottles segment of the global post-consumer recycled plastics market has the biggest share. These bottles are used for a variety of purposes, including the packaging of water, oils, fizzy drinks, and pharmaceuticals.

Global Post-consumer Recycled Plastics Market: Regional analysis

Due to the increasing demand from non-residential construction projects like colleges, schools, and hospitals, Asia Pacific has the largest share of the global post-consumer recycled plastics market. This will increase demand for personal protective equipment like helmets, safety wear, seat belts, and other items. Thanks to the widespread adoption of circular economy strategies to reduce carbon emissions by promoting post-consumer plastic recycling, Europe now holds the second-largest share of the worldwide market for recovered plastics following consumer use.

Global Post-consumer Recycled Plastics Market: Competitive Players

The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.

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Some of the significant players in the global post-consumer recycled plastics market are –