The report “Recycled Plastics Market by Source (Bottles, Fibers, Films, Foams), Process, Plastic Type (PET, PP, PVC, PS), Type, End Use (Packaging, Textiles, Building & Construction, Automotive, Electrical & Electronics), and Region – Global Forecast to 2032” forecasts that the market will grow from USD 85.90 billion in 2025 to USD 149.25 billion by 2032, registering a CAGR of 8.2% from 2024 to 2032.
The rising demand for recycled plastics to combat plastic pollution and save energy compared to virgin plastics is boosting their use across key industries including packaging, textiles, construction, automotive, and electronics.
Key Players: Alpek (Mexico), Biffa (UK), Cabka (Germany), Far Eastern New Century Corporation (Taiwan), Indorama Ventures (Thailand), Jayplas (UK), Loop Industries (Canada), MBA Polymers (US), Plastipak Holdings (US), Republic Services (US), Stericycle (US), Veolia (France).
Europe’s Growth Factors:
Europe is the second-largest regional market due to EU bans on single-use plastics (since 2019), 50% recycling targets for plastic packaging by 2025, increasing VC funding, and government-led adoption efforts.
Market Dynamics:
- Drivers: Use in packaging, automotive, electronics
- Restraint: Downcycling impacts
- Opportunity: Pro-recycling policies in developed nations
- Challenge: China’s import ban on plastic waste