Authored By: Sarah
11 Jul 2024

 Post-Consumer Recycled Plastics Market Size to grow by USD 5500.2 million between 2024-2028

According to a research report “ Post-Consumer Recycled Plastics Market” by Material (PET, HDPE, PP, Others) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5500.2 million, at a CAGR of  5.89% during the forecast period. In today's business landscape, corporations are prioritizing eco-friendly practices and sustainable solutions in response to growing consumer awareness and demand for healthy living. One such area of focus is the utilization of post-consumer recycled plastics (PCR). The packaging industry, in particular, has seen significant adoption of PCR plastics, as consumers increasingly advocate for environmental protection. This shift towards recycled plastic use has been instrumental in reducing carbon emissions and contributing to a greener environment. In the packaging sector, PCR plastics are employed extensively across various applications. These include the production of Food and Drug Administration (FDA)-approved food packaging, plastic containers, bottles, closures, jars, engineered pumps, sprayers, and caps. The versatility of PCR plastics allows for their application in numerous industries, making them an attractive alternative to virgin plastics. By embracing PCR plastics, businesses can not only meet their sustainability goals but also cater to the evolving preferences of eco-conscious consumers.

Browse market data tables, figures, and in-depth TOC on “Post-Consumer Recycled Plastics Market” by Material (PET, HDPE, PP, Others) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Material, the PET segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The Post-Consumer Recycled Plastics (PCR) market experienced significant growth in 2023, with Polyethylene Terephthalate (PET) being the largest segment. PET, a recyclable polymer derived from modified ethylene glycol and purified terephthalic acid, is a polyester resin widely used in the manufacturing of various products, including low-grade items such as carpets. Post-consumer PET refers to the waste generated from discarded PET packaging by consumers. This segment is projected to expand at a faster rate than the overall market during the forecast period, driven by increasing consumer awareness and government regulations promoting sustainable practices.

North America is forecasted to hold the largest market size by region in 2024

The Post-Consumer Recycled Plastics (PCR) market represents a significant business opportunity for companies committed to sustainable manufacturing practices. PCR plastics are derived from discarded consumer items, making their use an essential component of the circular economy. This market segment is experiencing robust growth due to increasing consumer awareness, stringent regulations, and corporate initiatives to reduce waste and carbon footprint. Companies can leverage PCR plastics to enhance their brand image, meet sustainability targets, and cater to eco-conscious consumers.

The Post-Consumer Recycled Plastics Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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
.

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Research Analysis Overview

The post-consumer recycled plastics (PCR) market is experiencing significant growth, particularly in sectors such as vehicles, personal protective equipment, personal care items, cosmetics, electronics, and online sales. PCR plastics, made from recycled plastic waste, are increasingly being used as lightweight components in vehicles, reducing their carbon footprints and contributing to the circular economy. Key types of PCR plastics include Polyethylene Terephthalate (PET), Polyethylene (PE), and Polypropylene (PP), derived from single-use plastics like bottles. The textiles industry and packaging companies are also major consumers of PCR plastics. Effective plastic waste management, including segregation and collection, is crucial for the production of PCR plastics. Recycling quotas and the reduction of single-use plastic waste are driving the demand for sustainable materials. Recycling technologies are continuously evolving to improve the quality and usability of PCR plastics. However, waste management challenges persist, including the need for efficient collection systems and the high cost of recycling compared to virgin materials. As the world transitions to a circular economy, the use of PCR plastics in various industries will continue to grow, contributing to waste reduction and the reduction of carbon footprints.

Market Research Overview

Post-Consumer Recycled Plastics (PCR) have become a hot topic in the world of sustainability, as the need to reduce plastic waste and minimize carbon footprints grows. PCR refers to plastics that have been collected from the waste stream after consumer use and processed into new products. Landfill taxes and bans have driven the demand for PCR, as governments and businesses seek to minimize the environmental impact of plastic waste. The automotive sector, with its use of safety belts and vests, hospitals, and non-residential construction projects, are among the major consumers of PCR. PCR is used in various applications, including rugs, carpets, plastic hinges, piping systems, floor mats, laboratory equipment, medical devices, and tubes. The chemical resistance properties of PCR make it ideal for use in industries such as electronics, electrical, and automotive. Polypropylene (PP), Polyvinyl Chloride (PVC), and Polyurethane (PUR) are common polymer types used in PCR. Mechanical recycling is the most common processing type, which involves melting down the plastic and reforming it into new products. PCR is used in a wide range of applications, from recycled packaging materials to fixtures, insulation, and construction materials. The textiles industry and packaging companies are also major consumers of PCR. The use of PCR reduces the need for fossil fuels and minimizes greenhouse gas emissions, making it a more sustainable alternative to single-use plastics. However, waste management challenges such as segregation, plastic waste collection, and recycling quotas remain. PCR is used in various industries, including electronics, electrical, automotive, and construction, as well as in personal protective equipment, personal care items, cosmetics, and online sales. PCR is also used in lightweight components, such as plastic bottles, and in various recycling technologies. PCR is a crucial component of the circular economy and offers a responsible packaging solution for businesses looking to reduce their carbon footprint and minimize plastic waste. It is essential to continue investing in recycling technologies and waste reduction initiatives to ensure a sustainable future for our planet.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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