Plastic Recycling Market by Material Type (Polyethylene Terephthalate, Polypropylene, High-Density Polyethylene, Low-Density Polyethylene, Polystyrene, Polyvinyl Chloride, Others), by Source (Bottles, Films, Fibers, Foams, Pipes, Others), by Application (Packaging, Automotive, Textiles, Construction, Personal Care & Household, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027
Key Market Insights:
“Rising adoption of recycled plastic products worldwide will boost the market growth”
The global plastic recycling market is growing substantially, projected to grow at a CAGR of 6.6% during the projected period from 2019 to 2027, starting from US$ 41.73 Bn in 2018. The global plastic recycling market volume is rising significantly, anticipated to expand with a CAGR of 8.9% during the estimated period from 2019 to 2027, starting from 29,438 kilotons in 2018.
The global plastic recycling market is majorly driven by the growing adoption of recycled plastic products worldwide. Growing penetration of recycled plastics in numerous industries (includes food & beverages, packaging, personal care and others) is expected to further drive the market growth throughout the forecast period. The demand for plastic recycling is anticipated to surge at a rapid pace in years to come due to abysmal statistics about the plastic waste generation in the atmosphere. The plastic production has reached over 350 Bn metric tons in 2018 from 1.5 Mn metric tons in 1950.
Rising government initiatives worldwide for plastic recycling is another major factor responsible for market growth during the forecast period. For instance, in some states of the U.S. such as California, Delaware, Connecticut, and others ‘Bottle Bill or Container Deposit Law’ has passed in which states refund 5 or 10 cents per bottle to encourage recycling and reusing of beverage plastic containers. Growing hygiene concerns and initiatives by major companies for the use of recycled plastics are some other factors expected to drive the market in years to come. For instance, in 2015, Adidas partners with Parley an environmental organization to convert marine trash to sportswear. Adidas sold around 5 Mn pairs of shoes in 2018 and it is expected that the number will reach around 20 Mn by 2021.
Application Analysis:
“Expansion of the packaging industry to spur the segment growth”
The packaging segment has highest share in the global plastic recycling market in 2018 in value terms and volume terms. The segment contributed to more than 38% market share in revenue terms and over 45% of the market share in volume terms in 2018. The segment was dominant in 2018 owing to expansion in the packaging industry, and stringent industry regulations for environment- friendly processes. The packaging industry was valued over US$ 840 Bn in 2018 and anticipated to reach around US$ 1.0 Tn by 2021 with a CAGR of nearly 6%.
“Growing need for packaging anticipated boosting the segment revenue”
The growing need for packaging due to the rapidly increasing e-commerce industry and a surge in the food delivery industry worldwide are anticipated to support the segment growth. Growing technological advancements to use recycled plastic for packaging and rising awareness to use recycled plastic for packaging are some other factors expected to enhance the market growth in years to come. Thus, the packaging segment is projected to continue its dominance in terms of both value and volume during the forecast period.
Regional Analysis:
“Rising import of plastic waste is expected to enhance the Asia Pacific growth”
In 2018, Asia Pacific has a major share in terms of both volume and value. The region contributed to around 48% market share in value and nearly 55% market share in volume. The region has the highest share owing to growing plastic waste imports in the South Asian economies such as India, Indonesia, Malaysia, Thailand and others. Growing small scale recycling plants along with the growth of the packaging industry in Asia Pacific are some other factors anticipated to enhance the market growth during the forecast period. Growing awareness accompanied by rising government initiatives for plastic recycling is some other factor expected to drive regional growth in years to come. For instance, in 2018, the Indian government installed ‘Reverse Vending Machines’ at different places to discard plastic bottles.
“Rising adoption of plastic recycling will spur the market in Europe”
Europe is anticipated to grow with the highest CAGR in terms of volume owing to the enhancement of domestic recycling facilities, increased use of recycled plastic across the packaging industry and growing environmental stability targets. For instance, in 2017, the European Union (EU) tightened recycling targets to 55% of plastic packaging waste by 2030 compared with 41% in 2016 for its member states.
Key Industry Developments:
- In April 2019, MBA Polymers, Inc. acquired Europe based automotive plastic recycler PPR Wipag. This acquisition is expected to support MBA Polymers, Inc. to enhance the product portfolio and increase market opportunities.
- In October 2019, Terracycle US, Inc. partners with Gerber Products Company a subsidiary of Nestle S.A. for retrieval of recycling baby food packaging across the U.S. This partnership will help Terracycle US, Inc. to increase its market share.
- In February 2020, DS Smith Plc partnered with Keep Scotland Beautiful to recycle coffee cups. DS Smith Plc will provide Coffee Cup Drop Box made from 100% recycled ingredients.
List of Companies Covered:
- MBA Polymers, Inc.
- MOL Group
- Plasgran Ltd
- Novolex
- Phoenix Technologies International LLC
- Vikoz Enterprises, Inc.
- Plastic Recycling, Inc.
- Terracycle US, Inc.
- KW Plastics
- DS Smith Plc
- PETCO
- Waste Connections, Inc.
- Custom Polymers, Inc.
- Envision Plastics
- Kuusakoski Group Oy
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Market Segmentation:
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2017-2027 |
| Base Year | 2018 |
| Forecast Period | 2019-2027 |
| Historical Year | 2017 |
| Unit | USD Billion |
|
Segmentation |
Material Type (2017–2027; US$ Bn) • Polyethylene Terephthalate (PET) |
|
Source (2017–2027; US$ Bn) |
|
|
Application (2017–2027; US$ Bn) |
|
|
Geography (2017–2027; US$ Bn) |
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the overall plastic recycling market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report:
- What are the current market trends and dynamics in the plastic recycling market and valuable opportunities for emerging players?
- Which segment accounts for the fastest CAGR during the forecast period?
- What are the drivers of the plastic recycling market?
- Notable developments going on in the plastic recycling market.
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Plastic Recycling (PR) Market
2.2. Global PR Market, by Material Type, 2018 (US$ Bn) (Kilotons)
2.3. Global PR Market, by Source, 2018 (US$ Bn) (Kilotons)
2.4. Global PR Market, by Application, 2018 (US$ Bn) (Kilotons)
2.5. Global PR Market, by Geography, 2018 (US$ Bn) (Kilotons)
3. Market Dynamics
3.1. Introduction
3.1.1. Global PR Market Value, 2017-2027, (US$ Bn) (Kilotons)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Plastic Recycling (PR) Market, by Material Type , 2017-2027 (US$ Bn) (Kilotons)
4.1. Overview
4.2. Polyethylene Terephthalate (PET)
4.3. Polypropylene (PP)
4.4. High-Density Polyethylene (HDPE)
4.5. Low-Density Polyethylene (LDPE)
4.6. Polystyrene (PS)
4.7. Polyvinyl Chloride (PVC)
4.8. Others (Polyurethane, Polycarbonate, Polylactide, etc.)
5. Global Plastic Recycling (PR) Market, by Source , 2017-2027 (US$ Bn) (Kilotons)
5.1. Overview
5.2. Bottles
5.3. Films
5.4. Fibers
5.5. Foams
5.6. Pipes
5.7. Others (Wires & Cables, Molded Products, etc.)
6. Global Plastic Recycling (PR) Market, by Application , 2017-2027 (US$ Bn) (Kilotons)
6.1. Overview
6.2. Packaging
6.3. Automotive
6.4. Textiles
6.5. Construction
6.6. Personal Care & Household
6.7. Food & Beverage
6.8. Others (Electronics, Industrial Machinery, etc.)
7. North America Plastic Recycling (PR) Market Analysis, 2017-2027 (US$ Bn) (Kilotons)
7.1. Overview
7.1.1. North America PR Market Value and Growth, 2017-2027, (US$ Bn) (Kilotons)
7.2. North America PR Market Value, By Material Type, 2017-2027 (US$ Bn) (Kilotons)
7.2.1. Market Analysis
7.3. North America PR Market Value, By Source, 2017-2027 (US$ Bn) (Kilotons)
7.3.1. Market Analysis
7.4. North America PR Market Value, By Application, 2017-2027 (US$ Bn) (Kilotons)
7.4.1. Market Analysis
7.5. North America PR Market Value, By Region/Country, 2017-2027 (US$ Bn) (Kilotons)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America
8. Europe Plastic Recycling (PR) Market Analysis, 2017-2027 (US$ Bn) (Kilotons)
8.1. Overview
8.1.1. Europe PR Market Value and Growth, 2017-2027, (US$ Bn) (Kilotons)
8.2. Europe PR Market Value, By Material Type, 2017-2027 (US$ Bn) (Kilotons)
8.2.1. Market Analysis
8.3. Europe PR Market Value, By Source, 2017-2027 (US$ Bn) (Kilotons)
8.3.1. Market Analysis
8.4. Europe PR Market Value, By Application, 2017-2027 (US$ Bn) (Kilotons)
8.4.1. Market Analysis
8.5. Europe PR Market Value, By Region/Country, 2017-2027 (US$ Bn) (Kilotons)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe
9. Asia Pacific Plastic Recycling (PR) Market Analysis, 2017-2027 (US$ Bn) (Kilotons)
9.1. Overview
9.1.1. Asia Pacific PR Market Value and Growth, 2017-2027, (US$ Bn) (Kilotons)
9.2. Asia Pacific PR Market Value, By Material Type, 2017-2027 (US$ Bn) (Kilotons)
9.2.1. Market Analysis
9.3. Asia Pacific PR Market Value, By Source, 2017-2027 (US$ Bn) (Kilotons)
9.3.1. Market Analysis
9.4. Asia Pacific PR Market Value, By Application, 2017-2027 (US$ Bn) (Kilotons)
9.4.1. Market Analysis
9.5. Asia Pacific PR Market Value, By Region/Country, 2017-2027 (US$ Bn) (Kilotons)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific
10. Rest of the World Plastic Recycling (PR) Market Analysis, 2017-2027 (US$ Bn) (Kilotons)
10.1. Overview
10.1.1. Rest of the World PR Market Value and Growth, 2017-2027, (US$ Bn) (Kilotons)
10.2. Rest of the World PR Market Value, By Material Type, 2017-2027 (US$ Bn) (Kilotons)
10.2.1. Market Analysis
10.3. Rest of the World PR Market Value, By Source, 2017-2027 (US$ Bn) (Kilotons)
10.3.1. Market Analysis
10.4. Rest of the World PR Market Value, By Application, 2017-2027 (US$ Bn) (Kilotons)
10.4.1. Market Analysis
10.5. Rest of the World PR Market Value, By Region, 2017-2027 (US$ Bn) (Kilotons)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America
11. Company Profiles
11.1. MBA Polymers, Inc.
11.2. MOL Group
11.3. Plasgran Ltd
11.4. Novolex
11.5. Phoenix Technologies International LLC
11.6. Vikoz Enterprises, Inc.
11.7. Plastic Recycling, Inc.
11.8. Terracycle US, Inc.
11.9. KW Plastics
11.10. DS Smith Plc
11.11. PETCO
11.12. Waste Connections, Inc.
11.13. Custom Polymers, Inc.
11.14. Envision Plastics
11.15. Kuusakoski Group Oy
* PR - Plastic Recycling
TABLE 1 Market Snapshot: Global Plastic Recycling (PR) Market
TABLE 2 Global PR Market, by Material Type, 2017–2027 (US$ Bn) (Kilotons)
TABLE 3 Global PR Market, by Source, 2017–2027 (US$ Bn) (Kilotons)
TABLE 4 Global PR Market, by Application, 2017–2027 (US$ Bn) (Kilotons)
TABLE 5 Global PR Market, by Geography, 2017–2027 (US$ Bn) (Kilotons)
TABLE 6 North America PR Market, by Material Type, 2017–2027 (US$ Bn) (Kilotons)
TABLE 7 North America PR Market, by Source, 2017–2027 (US$ Bn) (Kilotons)
TABLE 8 North America PR Market, by Application, 2017–2027 (US$ Bn) (Kilotons)
TABLE 9 North America PR Market, by Country, 2017–2027 (US$ Bn) (Kilotons)
TABLE 10 Europe PR Market, by Material Type, 2017–2027 (US$ Bn) (Kilotons)
TABLE 11 Europe PR Market, by Source, 2017–2027 (US$ Bn) (Kilotons)
TABLE 12 Europe PR Market, by Application, 2017–2027 (US$ Bn) (Kilotons)
TABLE 13 Europe PR Market, by Country/Region, 2017–2027 (US$ Bn) (Kilotons)
TABLE 14 Asia Pacific PR Market, by Material Type, 2017–2027 (US$ Bn) (Kilotons)
TABLE 15 Asia Pacific PR Market, by Source, 2017–2027 (US$ Bn) (Kilotons)
TABLE 16 Asia Pacific PR Market, by Application, 2017–2027 (US$ Bn) (Kilotons)
TABLE 17 Asia Pacific PR Market, by Country/Region, 2017–2027 (US$ Bn) (Kilotons)
TABLE 18 RoW PR Market, by Material Type, 2017–2027 (US$ Bn) (Kilotons)
TABLE 19 RoW PR Market, by Source, 2017–2027 (US$ Bn) (Kilotons)
TABLE 20 RoW PR Market, by Application, 2017–2027 (US$ Bn) (Kilotons)
TABLE 21 RoW PR Market, by Country/Region, 2017–2027 (US$ Bn) (Kilotons)
TABLE 22 MBA Polymers, Inc.: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments)
TABLE 23 MOL Group: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments)
TABLE 24 Plasgran Ltd: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments)
TABLE 25 Novolex: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments)
TABLE 26 Phoenix Technologies International LLC.: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments)
TABLE 27 Vikoz Enterprises, Inc.: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments)
TABLE 28 Plastic Recycling, Inc.: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments)
TABLE 29 Terracycle US, Inc. : Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
TABLE 30 KW Plastics: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
TABLE 31 DS Smith Plc: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
TABLE 32 PETCO: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
TABLE 33 Waste Connections, Inc.: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
TABLE 34 Custom Polymers, Inc.: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
TABLE 35 Envision Plastics: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
TABLE 36 Kuusakoski Group Oy: Company Snapshot (Company Overview; Material Portfolio; Financial Information; Key Developments
FIG. 1 Global Plastic Recycling (PR) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global PR Market Segmentation
FIG. 4 Global PR Market, by Material Type, 2018 (US$ Bn) (Kilotons)
FIG. 5 Global PR Market, by Source, 2018 (US$ Bn) (Kilotons)
FIG. 6 Global PR Market, by Application, 2018 (US$ Bn) (Kilotons)
FIG. 7 Global PR Market, by Geography, 2018 (US$ Bn) (Kilotons)
FIG. 8 Attractive Investment Proposition, by Geography, 2018
FIG. 9 Global Market Positioning of Key PR Market Manufacturers, 2018
FIG. 10 Global PR Market Value Contribution, By Material Type, 2018 & 2027 (Value %)
FIG. 11 Global PR Market, by Polyethylene Terephthalate (PET), Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 12 Global PR Market, by Polypropylene (PP), Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 13 Global PR Market, by High-density Polyethylene (HDPE), Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 14 Global PR Market, by Low-density Polyethylene (LDPE), Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 15 Global PR Market, by Polystyrene (PS), Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 16 Global PR Market, by Polyvinyl Chloride (PVC), Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 17 Global PR Market, by Others(Polyurethane, Polycarbonate, Polylactide,etc.), Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 18 Global PR Market Value Contribution, By Source, 2018 & 2027 (Value %)
FIG. 19 Global PR Market, by Bottles, Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 20 Global PR Market, by Films, Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 21 Global PR Market, by Fibres, 2017–2027 (US$ Bn) (Kilotons)
FIG. 22 Global PR Market, by Foams, Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 23 Global PR Market, by Pipes, Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 24 Global PR Market, by Others (Wires & Cabels, Molded Products, etc.), 2017–2027 (US$ Bn) (Kilotons)
FIG. 25 Global PR Market Value Contribution, By Application, 2018 & 2027 (Value %)
FIG. 26 Global PR Market, by Packaging, Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 27 Global PR Market, by Textiles, 2017–2027 (US$ Bn) (Kilotons)
FIG. 28 Global PR Market, by Construction, Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 29 Global PR Market, by Personal Care & Household, 2017–2027 (US$ Bn) (Kilotons)
FIG. 30 Global PR Market, by Food & Beverage, Value, 2017–2027 (US$ Bn) (Kilotons)
FIG. 31 Global PR Market, by Others (Electronics, Industrial Machinery, etc.), 2017–2027 (US$ Bn) (Kilotons)
FIG. 32 U.S. PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 33 Canada PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 34 U.K. PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 35 Germany PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 36 France PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 37 Italy PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 38 Rest of Europe PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 39 Japan PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 40 China PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 41 India PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 42 Rest of Asia Pacific PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 43 Middle East & Africa PR Market, 2017–2027 (US$ Bn) (Kilotons)
FIG. 44 Latin America PR Market, 2017–2027 (US$ Bn) (Kilotons)
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