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 2029″, The post-consumer recycled plastics market size is projected to grow from USD 71.44 billion in 2024 to USD 106.97 billion by 2029, at a CAGR of 8.4%. The demand of post-consumer recycled plastics is being driven by various factors. The increased awareness of the environmental issues and the need to reduce plastic wastage have led to an increased focus on recycling activities and usage of eco-friendly material. The governments around the globe are backing this trend by by implementing stringent regulations aimed at reducing plastic pollution, thus forcing industries to use recycled plastics in their products. At the same time, corporations are also establishing new sustainability targets, which have led to improvement of the utilization of post-consumer recycled content in their products. Consumers are also playing a crucial role to meet this demand as as their preference for eco-friendly and sustainable products is pushing manufacturers to adopt more recycled plastics.
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• 150 Market data Tables
• 60 Figures
• 290 Pages and in-depth TOC on “Post-Consumer Recycled Plastics Market – Global Forecast to 2029″
• 60 Figures
• 290 Pages and in-depth TOC on “Post-Consumer Recycled Plastics Market – Global Forecast to 2029″
Some of the prominent key players are:
- Veolia (France),
- Suez SA (France),
- WM Intellectual Property Holdings, L.L.C. (US),
- Republic Services (US),
- Waste Connections, Inc. (Canada),
- Biffa (UK), and many more….
Opportunity: Growing demand for plastic waste management in emerging economies
The demand for plastic waste in developed economies, such as North America and Europe, has become saturated. The collection, transportation, and disposal of waste in developing countries are disorganized. Waste is often dumped on the outskirts of towns and cities, which leads to overflowing landfills. While the North American and European markets have reached saturation in terms of growth, markets such as India, Argentina, South Africa, Brazil, and Middle Eastern countries are anticipated to grow during the forecast period. In developing countries there is rise in rapid urbanization and economic growth which further present promising opportunities for addressing the rising demand for recycled materials and establishing recycling infrastructure. Most of these markets face increasing waste generation rates caused by shifting consumption patterns, urban growth, and industrialization. As waste management becomes a critical concern, there is an untapped potential to build efficient and sustainable recycling systems in these regions further boosting the growth post-consumer recycled plastics market.
By End-use Application, Packaging accounts for the fastest-growing application during the forecast period.
Recycled plastics primarily serve a crucial application in packaging because of the packaging industry’s significant influence on tackling sustainability issues. The demand of post-consumer recycled plastics is high within this sector as it correlates with the growing focus on minimizing plastic waste and promoting environmental accountability. By utilizing recycled plastics, packaging manufacturers can satisfy consumer demands for eco-friendly products and play a prominent role in circular economy efforts. The adaptability of recycled plastics enables them to substitute virgin plastics in numerous packaging formats, including bottles, containers and films. This offers a practical solution to mitigate the environmental repercussions of packaging waste, although it also fosters a more sustainable industry landscape. However, challenges remain, which require continued innovation and commitment.
Asia-Pacific is the largest market during the forecast period.
Asia-Pacific has emerged as the largest market for post-consumer recycled plastics because of its rapid urbanization and large population pool. The region’s rapid urbanization leads to increasing plastic usage, which results in enormous plastic trash creation. As cities grow, so does the demand for sustainable waste management solutions, making post-consumer recycled plastics critical to addressing environmental issues. Furthermore, the large population increases demand for consumer products and packaging, making recycled plastics an appealing option for meeting environmentally conscious consumer preferences and regulatory needs. These factors combined to position the Asia-Pacific market as a significant participant in the acceptance and integration of post-consumer recycled plastics, resulting in more ecologically responsible and resource-efficient societies.
