Latest News- Post-Consumer Recycled Plastics Market: PET is expected to lead the Material segment during 2025-2029

The Post-Consumer Recycled Plastics Market is being driven by Increased demand for recycled plastics from packaging industry

The Post-Consumer Recycled Plastics Market is expected to grow at a CAGR of 5.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5570.4 million. The global production of plastic exceeds 300 million tons annually, with approximately 8-10 million tons ending up in oceans, posing a significant environmental hazard. Plastic waste negatively impacts marine and terrestrial life through dumping or incineration. To mitigate this issue, organizations such as The Association of Plastic Recyclers, 5 Gyres, and Recycling of Used Plastics Limited (RECOUP) are advocating for the utilization of post-consumer recycled plastics. They employ social media platforms to disseminate informative content through videos, images, and hashtags, promoting eco-friendly solutions and raising awareness about the importance of reducing plastic waste. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Material
  • PET
  • HDPE
  • PP
  • Others
• Source
  • Bottles
  • Non-bottle rigid plastics
  • Others
• End-user
  • Packaging
  • Construction
  • Automotive
  • Electronics
  • Others
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased demand for recycled plastics from packaging industry
• Lightweight nature and durable properties of recycled plastics
• Environment-friendly nature of recycled plastics

However, the market also witnesses some limitations, which are as follows:

• Low recycling rate of plastics
• Negative impacts of Chinas plastic recycling ban
• Stringent government regulations

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Market Scope in Post-Consumer Recycled Plastics Market Research Report

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Research Analysis Overview

The Post-Consumer Recycled Plastics (PCR) market encompasses various types of recycled plastics, including blends with Virgin Plastic, additives, colorants, reinforcements, fillers, and more. The market's growth is driven by the need to enhance Plastic Recycling Infrastructure, increase Plastic Recycling Capacity, and advance Plastic Recycling Technology and Innovation. Sustainable Packaging, Bio-Based Plastics, and Renewable Resources are key trends, with a focus on Plastic Waste Reduction and Prevention. The market is influenced by Corporate Social Responsibility, Sustainable Development Goals, Consumer Awareness, Behavior Change, and Education, as well as Recycled Plastic Certification, Labeling, and Transparency initiatives. Plastic Waste Management methods such as Landfill, Incineration, Pyrolysis, Gasification, Bioconversion, Environmental Product Declarations, Carbon Offset, and Green Procurement also impact the market. The challenge of addressing Single-Use Plastics, Plastic Pollution, and Ocean Plastic remains a significant concern.

Market Research Overview

The Post-Consumer Resin (PCR) segment of the specialty chemicals market encompasses the production and sale of Recycled PET, Recycled HDPE, Recycled PP, and Recycled PVC. These PCR resins, also known as Recycled Plastic Pellets, are high-value-added chemicals utilized in the manufacturing of various products, including adhesives, sealants, and advanced polymers. According to Technavio, the global specialty chemicals market is projected to grow significantly due to the increasing demand for specialty adhesives and sealants. This trend is expected to drive the market for Post-Consumer Resin during the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/