The global post-consumer recycled plastics market size was estimated at USD 10.66 billion in 2023 and is expected to grow at a CAGR of 10.7% from 2024 to 2030.
The market growth can be attributed to the rising sustainability measures undertaken by food & beverage and packaging companies to use recycled plastic materials. Growing efforts for a circular economy by end-users and increasing adoption of recycled plastics in the packaging, textiles, and other end-use industries are anticipated to drive the global demand for post-consumer recycled (PCR) plastics. Technological advancements in recycling to produce highly effective and advanced post-recycled plastics have been one of the major market drivers.
For instance, in October 2023, Repsol S.A. and Signode Industrial Group LLC launched a ready-to-use strap produced from a polypropylene (PP) composition containing 30% recycled content for utilization in high-tenacity applications. Moreover, the growth of the global market can be attributed to the high demand for PCR plastics from various end-use industries, including building & construction, packaging, electrical & electronics, textiles, and automotive as an alternative to traditional virgin fossil-based plastics. Construction activities are witnessing growth in China, India, the U.S., and Saudi Arabia owing to various redevelopment projects.
Gather more insights about the market drivers, restrains and growth of the Post-Consumer Recycled Plastics Market
Post-consumer Recycled Plastics Market Report Highlights
• The bottle source segment is expected to expand at the highest CAGR over the forecast period in terms of revenue. This is attributed to the rising demand for plastic bottles for the packaging of sanitizers, beverages, cosmetics, and various other products
• By type, the polystyrene segment is expected to witness the fastest growth over the forecast period in terms of revenue. It is used primarily in the manufacturing of packaging products for food and non-food applications
• Asia Pacific accounted for over 45.0% of the overall revenue in 2023
Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.
• The global cosmetic and toiletry containers market was valued at USD 32.4 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2030.
• The global Solution Styrene Butadiene Rubber (SSBR) market size was valued at USD 12.84 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030.
Post-consumer Recycled Plastics Market Segmentation
Grand View Research has segmented the global post-consumer recycled plastics market based on source, type, and region:
Post-consumer Recycled Plastics Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
• Bottles
• Non-bottle Rigid
• Others
Post-consumer Recycled Plastics Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
• Polypropylene (PP)
• Polystyrene (PS)
• Polyethylene (PE)
• Polyvinyl Chloride (PVC)
• Polyurethane (PUR)
• Polyethylene Terephthalate (PET)
• Others
Post-consumer Recycled Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
• Asia Pacific
o China
o Japan
o India
o Malaysia
• Central & South America
o Brazil
• Middle East & Africa
o Saudi Arabia
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