RECYCLED PLASTICS RESINS MARKET

KEY FINDINGS

• Advances in recycling technologies, such as chemical recycling and mechanical recycling advancements, are expanding the potential and characteristics of recycled plastics, making it a viable alternative to recycled plastic 

• The market is increasingly focused on achieving a circular economy, where recycled plastic plays an important role in waste reduction, conservation and the environment environmental reduction throughout the product life cycle 

• Positive regulatory frameworks and policies that encourage the use of recycled materials in products encourage market growth. Governments around the world are encouraging or mandating the inclusion of recycled plastics in manufacturing. 

• Increasing awareness among consumers about plastic waste and environmental sustainability is driving greater demand for products packaged or made from recycled plastic. Brands are responding by emphasizing sustainability evidence to attract environmentally conscious consumers.

• One of the major challenges in plastic recycling is contamination. Plastic waste often contains contaminants such as food scraps, labels and other materials, which can reduce the quality and usefulness of recycled plastic

• Increasing emphasis on life cycle assessments (LCA) is highlighting the environmental benefits of using recycled plastics over virgin plastics. LCAs help quantify reductions in greenhouse gas emissions, energy consumption, and resource depletion associated with recycled plastics.

• Recycled plastic resins are increasingly being used in a wide range of applications beyond packaging, including automotive components, building materials, electronics and consumer products. These diverse products expand the market potential of recycled plastics. 

• Continuous improvements in extraction, preparation and processing technologies are improving the quality and purity of recycled plastic resins that enhances their performance characteristics and extends their application. 

• Leading brands and multinationals are increasingly committing to using more recycled materials in their products. These changes stem from corporate sustainability goals, enhancing brand reputation and meeting customer expectations for sustainable products. 

• An increasing trend to invest in recycling facilities, including establishing facilities for sorting, processing and recycling plastic waste This type of investment purpose is to increase the capacity, efficiency and feasibility of recycled plastics.

RECYCLED PLASTICS RESINS MARKET OVERVIEW

The global market for recycled plastic resins is experiencing robust growth driven by heightened environmental awareness, stringent regulatory frameworks, and the escalating demand for sustainable packaging solutions across diverse industries. Recycled plastic resins offer significant advantages over non-recyclable plastics, including reductions in carbon footprint, energy conservation, and ecological preservation. These materials find extensive application in packaging, manufacturing, automotive, and consumer goods sectors, aligning with global efforts towards achieving circular economy objectives.

Key market drivers include governmental and industry initiatives aimed at promoting recycling, continuous advancements in recycling technologies enhancing the quality of recycled plastics, and increasing consumer preference for environmentally friendly products amidst concerns over plastic waste pollution. However, challenges such as varying quality standards and the economic viability of recycling processes pose obstacles to market expansion.Innovations in materials science, coupled with growing investments in renewable capacity, are poised to drive the adoption of recycled plastics on a global scale in the forthcoming years, further advancing sustainable practices across industries worldwide.

RECYCLED PLASTICS RESINS MARKET INTRODUCTION

Recycled plastic resin is a sustainable alternative to virgin plastic that is derived from post-consumer or post-industrial plastic waste. This waste material undergoes a recycling process to be transformed into resin pellets or flakes, which can then be used in various manufacturing applications

Recycled plastic resin can be sourced from a variety of plastic waste sources, including used plastic bottles, containers, packaging, and industrial scrap. These materials are collected, sorted, cleaned, and processed to remove contaminants and prepare them for recycling. The most common types of plastics recycled include PET (polyethylene terephthalate), HDPE (high-density polyethylene), LDPE (low-density polyethylene), PP (polypropylene), and others.

Recycled plastic resin is used in a wide range of applications across industries such as packaging, construction, automotive, furniture, textiles, and more. It can be processed into new plastic bottles, containers, pipes, decking, insulation, and composite materials, among others.

RECYCLED PLASTICS RESINS MARKET SIZE AND FORECAST

The Global Recycled Plastics Resins Market was valued at $XX billion in 2023 and is projected to reach $XX billion by 2030, with a compound annual growth rate (CAGR) of XX% from 2024 to 2030.

RECYCLED PLASTICS RESINS MARKET TECHNOLOGICAL TRENDS

Advanced Recycling Technologies

The use of advanced recycling technologies such as chemical recycling and incineration is increasing. This technology is capable of breaking down plastic waste into chemical building blocks or feedstocks that can be used to produce high-quality recycled plastic. This characteristic is important because it allows solid plastic waste to be recycled or pollutants that traditional recycling equipment may struggle with. 

Single Packaging

Single packaging solutions are gaining popularity due to their ease of reuse. Companies are increasingly using a type of plastic to improve packaging, facilitating recycling and improving hygiene. This trend is particularly evident in food packaging and consumer products role in which manufacturing companies aim to meet sustainable packaging goals and consumer expectations for environmentally friendly packaging

Digitization and traceability

Technologies such as blockchain and digital platforms are being used to increase traceability and transparency in the supply of recycled plastics. These tools help track recycled materials from collection to manufacturing to final products, ensure sustainability standards are met and provide consumers with verified information about recycled products.

RECYCLED PLASTICS RESINS MARKET NEW PRODUCT LAUNCH

REVOLOOP

Dow launched its REVOLOOP Recycled Plastics Resins, marking a significant advancement in waste management and sustainability. These new resin offerings underscored Dow's dedication to enhancing circular packaging solutions. The launch included two versions: one comprising 100% post-consumer recycled (PCR) material and another featuring a formulated range incorporating up to 85% PCR sourced from household waste, tailored for non-food product packaging. Fabrice Digonet, Dow's EMEA Plastic Packaging & Specialty Plastics Recycling Program Leader, highlighted the expansion of their sustainable initiatives through the introduction of REVOLOOP recycled plastic resin. By collaborating with brands, converters, and recyclers, Dow aimed to innovate packaging solutions that reduce plastic usage and ensure maximum usability. This program marked a significant milestone in Dow's recycling efforts, supporting their circular economy objectives and commitment to a low-carbon future.

Meguri

Sumitomo Chemical Co., Ltd. introduced Meguri, a sustainable acrylic material, leveraging its advanced chemical recycling technology. Developed in collaboration with Star Jewelry Co., Ltd. in Yokohama City, Kanagawa Prefecture, Japan, this innovative acrylic jewelry collection was launched nationwide at Star Jewelry stores and online. It marked a pioneering use of 100% recycled acrylic material for jewelry in Japan.Sumitomo Chemical's commitment to developing chemical recycling technology for plastics led to the establishment of a pilot facility at its Ehime Works in Niihama City, Japan, by December 2022. This facility focused on chemically recycling acrylic resin (PMMA), branded as SUMIPEX Meguri, with plans for full-scale market availability by fiscal year 2025. By utilizing recycled raw materials sourced from used acrylic resin, Sumitomo Chemical ensured that Meguri maintained the high transparency of fossil fuel-derived acrylic resin while significantly reducing CO2 emissions and environmental impact throughout its lifecycle.

Mono-material polypropylene (PP)

Skanemejerier, the Swedish sustainable dairy company, launched a groundbreaking mono-material polypropylene (PP) packaging solution for ICA Hushallsost cheese in collaboration with Mondi. This innovative packaging, now available in leading Swedish supermarkets, features a single-layer support mesh and lid film to create a robust barrier against oxygen and moisture, ensuring freshness and prolonging shelf life for the cheese. The partnership between Skanemejerier and Mondi commenced with initial trials and testing phases, culminating in a successful market introduction. Ingemar Jonsson, Packaging Manager at Skanemejerier, highlighted that the integration enabled optimization of materials and machinery, resulting in sustainable packaging solutions that meet customer demand for innovation while maintaining environmental harmony.

RECYCLED PLASTICS RESINS MARKET SEGMENTATION

By Geography

• U.S
• Europe
• China
• Asia(Ex-China)
• ROW

By Resin Type

• PET (Polyethylene Terephthalate)
• HDPE (High-Density Polyethylene)
• LDPE (Low-Density Polyethylene)
• PP (Polypropylene)
• Others

By Application

• packaging (bottles, containers, films)
• automotive (interior components, under-the-hood parts)
• construction (pipes, flooring, insulation)
• electronics (casings, components)
• Others

By End User

• food and beverage
• consumer goods
• automotive
• building and construction
• electronics
• healthcare
• Others

RECYCLED PLASTICS RESINS MARKET COMPANIES PROFILED

• MBA POLYMERS
• SUEZ
• VEOLIA
• ENVISION PLASTICS
• PLASTIPAK
• VISY
• GREENTECH
• KW PLASTICS

RECYCLED PLASTICS RESINS MARKET REPORT WILL ANSWER THE FOLLOWING QUESTIONS

1. What are the recent technological developments in plastics recycling technologies, such as chemical recycling and mechanical recycling, and how do these developments expand recycled plastics in the nature and capabilities of the implementation? 
2. How is the market evolving towards achieving a circular economy, and what role does recycled plastic play in waste reduction, conservation and environmental sustainability over the product life cycle? 
3. What is the projected recycled plastics resins market value globally by 2030, considering advancements in recycling technologies and increasing adoption across various industries?
4. What is the typical B2B price range per metric ton of recycled plastics resins, considering variations in resin types, purity levels, and regional market dynamics?
5. What are the current regulatory frameworks and policies across the globe that encourage or mandate the use of recycled materials in construction, and how are they impacting market growth? 
6. How does increasing consumer awareness about plastic waste and environmental sustainability impact the demand for products packed or made of recycled plastic, and how are manufacturers responding to this demand? 
7. What are the major challenges in plastic recycling, especially those related to pollution, and how do stakeholders address these challenges to improve the quality and transport of recycled plastics? 
8. Is the implementation effective? How do life cycle analyzes (LCAs) compare recycled plastics with non-recycled plastics in terms of environmental benefits, including reduced greenhouse gas emissions, energy including handling and waste? 
9. Other than packaging, which industries and applications are having the highest usage of Recycled Plastic Resin, and what is the Recycled Plastic market capacity in these segments? 
10. What are the recent developments in technologies for the extraction, preparation and processing of recycled plastic resins, and how do these developments improve their performance characteristics and expand their applications?