The Plastic Recycling Global Market Report 2023, provides comprehensive information on the plastic recycling market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032
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The global plastic recycling market size is expected to grow from $38.64 billion in 2022 to $41.98 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global plastic recycling market size is expected to reach $55.93 billion in 2027 at a CAGR of 7.4%.
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Technological advancements are gaining popularity as a key trend in the plastic recycling market. Major market players are introducing innovations in recycling technologies for easier and cost-effective plastic recycling processes to strengthen their position in the market. For instance, in November 2021, Honeywell International Inc., a US-based multinational conglomerate corporation providing smart building solutions, launched UpCycle Process Technology to advance the circular economy of plastics that can be recycled. It will provide feedstock for recovered plastics with a lower carbon impact using recycled resources. UpCycle Process Technology converts waste plastic into Honeywell recovered polymer feedstock, which is then used to produce new plastics using cutting-edge molecular conversion, pyrolysis, and pollutants management technology. 90% of worldwide plastic trash may be recycled with UpCycle Process Technology.
The plastic recycling market is segmented:
1) By Type: Polyethylene Terephthalate, Polyethylene, Polystyrene, Polyvinyl Chloride, Polypropylene, Other Types
2) By Source: Bottles, Films, Foams, Fibers, Other Sources
3) By End Use: Packaging, Automotive, Building And Construction, Electrical And Electronics, Other End Uses
North America was the largest region in the plastic recycling market in 2022.
The table of contents in TBRC’s plastic recycling market report includes:
1. Executive Summary
2. Plastic Recycling Market Characteristics
3. Plastic Recycling Market Trends And Strategies
4. Plastic Recycling Market – Macro Economic Scenario
5. Plastic Recycling Market Size And Growth
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26. Africa Plastic Recycling Market
27. Plastic Recycling Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Plastic Recycling Market
29. Plastic Recycling Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Kuusakoski Group Oy
- Berry Global Inc
- B & B Plastics Inc
- Plastipak Packaging Inc
- CarbonLite Industries LLC
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