Post-consumer recycled plastics industry research report

Dublin, December 4, 2024 (GLOBE NEWSWIRE) — The report “Post-Consumer Recycled Plastics – Global Strategic Business Report” has been updated ResearchAndMarkets.com Offer.

The global post-consumer recycled plastics market was valued at $17.8 billion in 2023 and is expected to reach $26.8 billion by 2030, growing at a CAGR of 6.1% from 2023 to 2030 corresponds. This comprehensive report provides in-depth analysis of market trends, drivers and forecasts to help you make informed business decisions.

Growing awareness of the impact of plastic waste on the environment, as well as increasing regulatory pressure on manufacturers to adopt sustainable practices, is driving demand for PCR plastics across industries. By incorporating recycled post-consumer plastics into their production processes, companies can reduce their carbon footprint, meet regulatory requirements and appeal to environmentally conscious consumers. In addition, the use of PCR plastics reduces the demand for virgin plastics derived from fossil fuels, thereby saving energy and resources.

Several factors are driving the growth of the post-consumer recycled plastics market, including increasing environmental awareness, regulatory requirements, advances in recycling technologies and growing consumer demand for sustainable products. One of the most significant growth drivers is the global movement to reduce plastic waste and promote the circular economy. As governments, businesses and consumers become more aware of the environmental damage caused by plastic pollution, pressure is increasing to reduce single-use plastics, improve recycling rates and use sustainable materials. PCR plastics offer a solution to these challenges by providing a way to recycle and reuse plastic materials, reducing waste and conserving resources.

Regulatory initiatives and policies also play a crucial role in driving demand for post-consumer recycled plastics. Governments around the world are introducing stricter regulations to curb plastic waste and encourage the use of recycled content in packaging and other products. For example, the European Union’s Circular Economy Action Plan sets ambitious goals to increase recycling rates and incorporate more recycled materials into products. Similarly, extended producer responsibility (EPR) systems give manufacturers responsibility for the end-of-life disposal of their products and incentivize them to use more recycled materials. In regions such as North America and Europe, the growing trend to ban or tax single-use plastics is also encouraging the adoption of PCR plastics.

Growing demand from environmentally conscious consumers is another key driver for the post-consumer recycled plastics market. Consumers are increasingly looking for products and packaging made from sustainable materials, leading companies to use PCR plastics to meet these preferences. Brands from all industries such as food and beverage, cosmetics, fashion and electronics market products made from recycled plastic as part of their sustainability commitment. The rise of eco-labeling and certification systems such as the Global Recycled Standard (GRS) is helping to increase consumer confidence in products made from post-consumer recycled materials.

Technological advances in recycling processes, particularly sorting, cleaning and chemical recycling, are also contributing to the growth of the PCR plastics market. These advances make it possible to produce higher quality recycled plastics that can be used in more demanding applications, including food packaging, automotive parts and electronics. The development of closed recycling systems further supports market growth by enabling continuous recycling of plastics without deterioration in material quality. Finally, corporate sustainability commitments are driving the adoption of PCR plastics across industries.

Many companies are setting ambitious goals to reduce their environmental impact by incorporating more recycled materials into their products and packaging. For example, major beverage manufacturers are committing to using 100% recycled PET in their bottles, while fashion brands are committing to using recycled polyester in their clothing lines. These commitments result in significant demand for high-quality post-consumer recycled plastics.

Why you should buy this report:

• Detailed Market Analysis: Get access to a comprehensive analysis of the global post-consumer recycled plastics market, covering all major geographical regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of key players in different regions.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the global post-consumer recycled plastics market.
• Actionable insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Reporting features:

• Comprehensive market data: Independent analysis of annual sales and market forecasts in millions of US dollars from 2023 to 2030.
• Detailed Regional Analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, Latin America, the Middle East and Africa.
• Company Profiles: Coverage of key players in the global post-consumer recycled plastics market such as Alpha Packaging, Amcor, Berry Global Inc., Biffa, Clean Harbors and more.
• Free Updates: Receive one year of free report updates to keep you up to date on the latest market developments.

Scope of the study

• Type (LDPE, PP, HDPE, PVC, PUR, PET, other types); type of processing (mechanical, chemical, biological); Application (packaging, construction, automotive, furniture, electronics, other applications)
• World; United States; Canada; Japan; China; Europe (France, Germany, Italy, United Kingdom, Spain, Russia and Rest of Europe); Asia Pacific (Australia, India, South Korea and Rest of Asia Pacific); Latin America (Argentina, Brazil, Mexico and Rest of Latin America); Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates and Rest of Middle East); and Africa.

Key attributes:

Market trends and drivers

• Increasing consumer awareness of environmental sustainability is increasing demand for recycled post-consumer plastics in packaging
• Increasing regulatory pressure to reduce plastic waste is driving the adoption of post-consumer recycled plastics across industries
• Technological advances in plastic recycling are driving the growth of high-quality, recycled plastic materials for manufacturing
• Rising demand for recycled plastics in the packaging industry is expanding the market for sustainable, environmentally friendly packaging solutions
• The growing focus on circular economy initiatives is encouraging the use of post-consumer recycled plastics in consumer goods and retail
• The increasing use of recycled plastics in automotive construction expands the possibilities for lightweight, sustainable materials
• Increasing use of post-consumer recycled plastics in building and construction fuels. Market growth in environmentally friendly building materials
• Technological innovations in chemical recycling are driving the growth of high-purity, recycled plastic products for high-performance applications
• Rising demand for recycled plastics in textiles and fashion is expanding the market for sustainable clothing and shoes
• Growing focus on reducing plastic waste is driving the adoption of post-consumer recycled plastics in food and beverage packaging
• The increasing use of recycled plastics in the electronics industry is expanding the market for sustainable, recycled components in consumer electronics
• Rising demand for recycled PET (rPET) in bottling and packaging expands opportunities in the beverage and consumer goods sector
• The increasing use of recycled plastic in furniture manufacturing is expanding the market for eco-friendly home furnishings

FOCUS ON SELECTED PLAYERS:The 38 companies featured in this global post-consumer recycled plastics market report include:

• Alpha packaging
• Amcor
• Berry Global Inc.
• Biffa
• Clean ports
• Coveris
• DS Smith
• Eco Products Inc.
• Genpak Llc
• Huhtamaki
• Mondi Group
• Placon Corporation Inc.
• Remondis Se & Co. Kg
• Republican Services
• Reynolds packaging
• Sealed Air Corporation
• Smurf Kappa
• Sonoco Products Company
• Stericycle
• Suez
• Veolia environment
• Waste Connections, Inc.
• Waste Management Inc.

For more information about this report, please visit https://www.researchandmarkets.com/r/ctwyb7

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• Recycled post-consumer plastics market