Post-Consumer Recycled Plastics Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Post-Consumer Recycled Plastics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Post-Consumer Recycled Plastics Global Market Report 2024, The post-consumer recycled plastics market size has grown strongly in recent years. It will grow from $15.07 billion in 2023 to $16.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to corporate sustainability initiatives, consumer demand for sustainable products, voluntary industry initiatives, infrastructure for plastic waste collection, reduced dependence on virgin plastics, economic incentives for recycling..

The post-consumer recycled plastics market size is expected to see strong growth in the next few years. It will grow to $20.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising global plastic waste concerns, extended producer responsibility (epr) programs, green labeling and certification, consumer education and advocacy, expansion of collection infrastructure, influence of global sustainability goals.. Major trends in the forecast period include growing awareness of plastic pollution, advancements in recycling technologies, government regulations and policies, focus on closed-loop recycling systems, development of pcr content standards, collaborations across the value chain, economic incentives for recycling..

The increase in demand for non-residential construction projects is expected to propel the growth of the post-consumer recycled plastics market going forward. Non-residential construction refers to any buildings, whether permanent or temporary, that are not meant for private occupation. In a wide range of applications, recycled plastics represent a feasible and low-emissions alternative materials for the construction of these buildings. Plastic trash, for example, can be utilized as an element in “green” concrete. In addition, recyclable polymers can be used in place of steel and brick. For instance, non-residential building construction is increasing as new projects are being implemented. In 2021, the construction of commercial buildings had increased by 13%. Therefore, increasing demand for non-residential construction projects is driving the post-consumer recycled plastics market.

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The post-consumer recycled plastics market covered in this report is segmented –

1) By Type: Polypropylene (PP), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC), Polyurethane (PUR), Polyethylene Terephthalate (PET), Other Types

2) By Service: Collection And Transportation, Recycling, Incineration, Landfill

3) By End-Use: Packaging, Building And Construction, Automotive, Electronics, Furniture, Other End-Uses

Technological advancement is a key trend in the post-consumer recycled plastics market. Major companies involved in post-consumer recycled plastics are focusing on developing new technological solutions adaptable to other elements, fueling the growth of technologies such as AI-powered sortation, which advances the circular economy for recycled plastics. For instance, in April 2021, AMP Robotics Corp., a pioneer in artificial intelligence (AI), robotics, and infrastructure for the waste industry, deployed six AI-guided robotic sorting systems with Evergreen, one of the nation’s largest recyclers of PET bottles. AMP’s technology identifies and sorts green and clear PET from post-consumer bales of plastic soft drink bottles, which Evergreen recycles into reusable flakes or pellets (rPET) and sells to end markets as feedstock for new containers and packaging.

The post-consumer recycled plastics market report table of contents includes: