Post-Consumer Recycled Plastics Market Set for Strong Growth by 2029
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 73.35 billion in 2024 to USD 125.34 billion by 2029, at a CAGR of 11.3%. 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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- 424 Market data Tables
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- 391 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), Clean Harbors, Inc. (US)
- Stericycle, Inc. (US)
- Remondis SE & Co. KG (Germany)
- DS Smith plc (UK)
Driver: Stringent regulations regarding disposal of consumer and industrial plastic waste
Due to the adverse effects of waste and its by-products, governments across the globe have set strict control measures. They have implemented stringent regulations regarding the disposal of consumer and industrial plastic waste to minimize the generation of solid wastes that end up in landfills. The regulatory bodies of the US and European countries impose heavy fines for non-adherence to standards and acts.
By Source, Bottles to be the fastest-growing source during the forecast period.
Bottles are among the most common source of recycled plastics, owing to their high usage and visibility in plastic waste streams. Bottled beverages and househole items produce a significant number of wasted plastic bottles, making them easily recyclable. Furthermore, the plastic bottles shape and composition are uniform, making recycling easier because they can be simply separated and processed. This homogeneity promotes the development of post-consumer recycle plastics that may be fed back into the manufacturing process, hence reducing the need of virgin plastic resources. Bottle recycling has the following benefits: first, it prevents plastic trash from ending up in landfills, and second, it promotes environmental sustainability and resource conservation. Finally, bottles have an essential role in the circular economy, with a significant influence on the percentages that attempt to reduce the impact of plastic trash.
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.