Recycled Plastic Market is predicted to reach USD 143.9 billion at a CAGR of 8.50% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “global Recycled Plastic Market”.

The recycled plastic Market is estimated to register a CAGR of 8.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global recycled plastic Market— WM Intellectual Property Holdings, L.L.C., Veolia, Shell International B.V., Waste Connections, CLEAN HARBOUR, INC., Covetsro AG, REMONDIS SE & Co. KG, Biffa, Stericycle, Republic Services, Inc., and others.

Market Highlights

The global recycled plastic market is accounted to register a CAGR of 8.50% during the forecast period and is estimated to reach USD 143.9 Billion by 2032.

As sustainability becomes a major concern on a worldwide scale, the recycled plastic sector is expanding significantly. The demand for recycled plastic is rising in response to growing environmental awareness of plastic waste. Market expansion is being fueled by expanding programmes to decrease plastic waste as well as government policies that support recycling, opening up potential for sustainable plastic substitutes.

Segment Analysis

The global recycled plastic market has been segmented based source, plastic type, process, type, and end-use.

On the basis of source, the market is segmented into bottles, films, foams, fibres, and other materials. With 35.35% of market revenue, the bottles category led the market. Plastic bottles are the main producers of recycled commodities. Water, oils, pharmaceuticals, and carbonated drinks are typically packaged in plastic bottles. They are used in a variety of applications across many different industries.

Based on plastic type, the global recycled plastic market has been segmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polythylene (PP), polystyrene (PS), others. The majority of the shares were owned by the category polyethylene terephthalate (PET). This significant share of the economy can be attributed to the growing need for packaging materials in the consumer goods, food and beverage, industrial, and many other sectors of the economy.

Based on process, the global recycled plastic market has been segmented into chemical and mechanical. Mechanical recycling is a well-known and often utilised process in the recycling industry. To create recycled pellets or flakes that can be used in a variety of ways, plastic trash needs to be gathered, sorted, cleaned, and processed.

Based on type, the global recycled plastic market has been segmented into post-consumer recyclate and industrial recyclate. Mechanical recycling is a well-known and often utilised process in the recycling industry. To create recycled pellets or flakes that can be used in a variety of ways, plastic trash must be gathered, sorted, cleaned, and processed.

Based on end-use, the global recycled plastic market has been segmented into automotive, electrical & electronics, textiles, packaging, building & construction, and others. This high percentage is due to the increase in demand for packaged food and beverages, electrical & electronics, and textiles.

Regional Analysis

The global recycled plastic market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe recycled plastic Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The recycled plastic Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World recycled plastic Market comprises of Middle East, Africa, and Latin America.

The North America Recycled Plastic Market dominated this market in 2022 (45.80%). The growth of the primary end-use industries, such as construction, electrical & electronics, and packaging, is driving the market. Increased construction in the United States, Mexico, and Canada is predicted to fuel market expansion during the projected period.

Moreover, the second-largest market share belongs to the Europe Recycled Plastic Market. The market is being driven by the adoption of the circular economy since it will boost local plastic recycling while reducing the carbon footprint associated with the conventional method of producing plastic.

Additionally, from 2023 to 2032, the market for recycled plastic is anticipated to develop at the quickest CAGR in Asia-Pacific. The need for non-residential construction projects like hospitals, schools and universities will expand throughout the anticipated period, which will boost the requirement for fencing, insulation and non-flooring building materials like carpet and tiles.

Furthermore, the market for recycled plastic in Latin America is expanding as a result of growing environmental consciousness and measures to cut back on plastic waste. The market is being driven by the region's increasing emphasis on sustainability, government regulations, and consumer demand for eco-friendly products. The acceptance of recycled plastic products and the development of recycling infrastructure are possibilities.

Key Findings of the Study

• The global recycled plastic market is expected to reach USD 143.9 Billion by 2032, at a CAGR of 8.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to rise in the need for non-residential construction projects such hospitals, schools, and universities, which will increase the demand for flooring materials like carpet and tiles as well as insulation and fences.


• Based on process, the mechanical segment was attributed to holding the largest market in 2022.


• WM Intellectual Property Holdings, L.L.C., Veolia, Shell International B.V., Waste Connections, CLEAN HARBOUR, INC., Covetsro AG, REMONDIS SE & Co. KG, Biffa, Stericycle, Republic Services, Inc., and others.