Post-Consumer Recycled Plastics Market worth $92.6 billion by 2028, at a CAGR of 8.3%

The report “Post-Consumer Recycled Plastics Market by Source (Bottles, Non-bottle Rigid), Polymer Type, Processing Type (Mechanical, Chemical, Biological), End-use (Packaging, Building & Construction, Automotive, Electronics), and Region – Global Forecast to 2028“, is projected to grow from USD 62.1 billion in 2023 to USD 92.6 billion by 2028, at a CAGR of 8.3% from 2023 to 2028.

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• 390 Market data Tables
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•  330 Pages and in-depth TOC on “Post-consumer Recycled Plastics Market – Global Forecast to 2028″

Some of the prominent key players are:

 

  • Veolia Environnement S.A. (France)
  • SUEZ (France)
  • Waste Management Inc. (US)
  • Republic Services Inc. (US)
  • Stericycle Inc. (US)
  • Waste Connections, Inc. (Canada)
  • Biffa plc (UK)
  • Clean Harbors, Inc. (US)
  • Remondis SE & Co. KG (Germany)

Opportunities: Rising demand for plastic waste management from emerging economies

 

The escalating demand for effective plastic waste management from emerging economies represents a substantial opportunity within the post-consumer recycled plastics market. As these economies undergo rapid growth and urbanization, the surge in plastic consumption leads to increased plastic waste generation, necessitating robust waste management solutions. This demand for sustainable practices offers an avenue for the adoption of post-consumer recycled plastics, enabling these economies to mitigate environmental impact, enhance resource efficiency, and align with global sustainability goals. Capitalizing on this opportunity not only addresses pressing waste challenges but also drives market expansion, innovation, and the establishment of circular economy practices in regions with burgeoning plastic waste concerns.

By End-use Application, Packaging accounts for the fastest-growing application during the forecast period.

 

Recycled plastics find their predominant application in packaging due to the packaging industry’s pivotal role in addressing sustainability challenges. The packaging sector’s high demand for materials aligns with the increasing emphasis on reducing plastic waste and enhancing environmental responsibility. By incorporating recycled plastics, packaging manufacturers can meet consumer expectations for eco-friendly products and contribute to circular economy initiatives. The versatility of recycled plastics allows them to replace virgin plastics in various packaging forms such as bottles, containers, and films, offering a viable solution to reduce the environmental impact of packaging waste while fostering a more sustainable industry landscape.

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Asia-Pacific is the largest market during the forecast period.

The Asia-Pacific region emerges as the largest market for post-consumer recycled plastics due to its rapid urbanization and vast population. The region’s substantial urban growth leads to increased plastic consumption, resulting in significant plastic waste generation. As urban centers expand, so does the need for sustainable waste management solutions, making post-consumer recycled plastics essential for addressing environmental concerns. Additionally, the sizable population drives demand for consumer goods and packaging, making recycled plastics an attractive choice to meet eco-conscious consumer preferences and regulatory requirements. These factors combined to position the Asia-Pacific market as a key player in the adoption and integration of post-consumer recycled plastics to create more environmentally responsible and resource-efficient societies.

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