Post-Consumer Recycled Plastics Market Analysis and Forecast 2024-2028

The post-consumer recycled plastics market size is projected to grow by USD 5.50 billion from 2023 to 2028, registering a CAGR of 5.89%. The increasing demand for lightweight components across industries such as electronics, cosmetics, and personal care is a key growth driver. The integration of recycled plastics into packaging solutions contributes to sustainability and a reduced carbon footprint. Additionally, rising consumer awareness, largely fueled by social media campaigns, is accelerating market adoption.However, the market faces challenges due to low recycling rates, which impact the availability of raw materials. Sectors such as vehicles and construction present expansion opportunities, as recycled plastics are increasingly used in insulation and fixtures. Additionally, the rise of online sales is further promoting the adoption of eco-friendly alternatives.

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Market Segmentation

The market is segmented by material type and geography. The report provides data and forecasts in USD billion for the period 2024-2028, with historical insights from 2018-2022.

By Material

• PET
• HDPE
• PP
• Others

By Geography

• North America

  • Canada

  • US

• APAC

  • China

• Europe

  • UK

• Middle East and Africa

• South America

By Material Insights

The PET segment is projected to witness significant growth during the forecast period. In 2023, PET held the largest market share, driven by its extensive use in packaging and textiles. PET is a recyclable polyester resin produced through polymerization of purified terephthalic acid and ethylene glycol. Post-consumer PET waste primarily comes from discarded bottles and containers, which are repurposed into new packaging materials and textiles. The increasing alignment of packaging companies with the circular economy further supports the growth of this segment.

In 2018, the PET segment was valued at USD 7.50 billion and has shown steady growth since.

Regional Market Trends

North America

North America is expected to contribute 33% of the market’s growth during the forecast period. The Recycle Demand Champions program, a collaboration between The Recycling Partnership and the Association, is encouraging manufacturers and retailers to incorporate more post-consumer resins into their supply chains. Key polymer types, including PP, PE, and PET, are widely utilized in the region. The textile industry is also integrating post-consumer recycled plastics, reinforcing circular economy practices.

Companies in North America are expanding their presence in the recycled plastics market to reduce carbon footprints and enhance sustainability initiatives.

Market Dynamics

Drivers

• Increased demand for recycled plastics in packaging
  The packaging industry is a major consumer of post-consumer recycled plastics due to growing sustainability concerns. These materials are used in FDA-approved food packaging, plastic containers, bottles, closures, jars, engineered pumps, sprayers, and caps. Advanced recycling technologies aid in the collection, segregation, and processing of plastic waste to produce high-quality recycled plastics. Despite plastic waste management challenges, the packaging industry remains a key driver of market growth.

Trends

• Rise in awareness through social media
  Social media campaigns have become a powerful tool in raising awareness about plastic waste management. Every year, approximately 300 million tons of plastic are produced globally, with 8-10 million tons ending up in oceans. Organizations such as The Association of Plastic Recyclers, 5 Gyres, and RECOUP are actively promoting recycling efforts through social media platforms. The push for recycled plastics in manufacturing is a step toward sustainability and waste reduction.

Challenges

• Low recycling rates of plastics
  Despite rising awareness, the global plastic recycling rate remains low. Over 50% of plastic waste is discarded, while only 20% is successfully recycled. Governments are implementing measures to promote plastic recycling, but significant gaps remain. Innovations in collection, segregation, and recycling technologies are essential to address these challenges and increase the supply of high-quality post-consumer recycled plastics.

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Key Players

The post-consumer recycled plastics market includes several key players implementing strategies such as mergers, acquisitions, partnerships, and product launches to strengthen their presence.

Notable Companies in the Market:

• AAA Polymer Inc.
• B and B Plastics Inc.
• B. Schoenberg and Co. Inc.
• Clear Path Recycling LLC
• Defy Design
• Dow Chemical Co.
• EFS Plastics Inc.
• Envision Plastics
• EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H.
• Fukutomi Recycling Ltd.
• Genpak LLC
• Green Warehouse Ltd.
• Jabil Inc.
• KW Plastics
• MBA Polymers Inc.
• Recycling Technologies Ltd.
• SUEZ SA
• TerraCycle Inc.
• Union J Plus (Thailand) Co. Ltd
• Veolia Environnement SA

Future Market Insights

The post-consumer recycled plastics market is poised for growth due to the increasing demand for sustainable materials across industries. The expansion of recycling technologies, the circular economy, and regulations promoting plastic waste management will shape market dynamics in the coming years.