Recycled Plastics Market

Ban on single-use plastics across major countries coupled with growing consumer awareness about plastic waste generation, energy savings, and reuse is anticipated to play integral part in terms of developing the demand.

The global recycled plastics market is expected to be valued at US$ 30.2 Bn by the end of 2026, wherein packaging industry (both food and non-food) accounting for more than 60% largely due to trend of sustainable packaging and circular economy.

Asia Pacific held the highest share in 2019 and is anticipated to hold more than half of the recycled plastics demand by 2026 owing to the sustained demand growth in application such as packaging, textile, and construction in India, China, and Southeast Asia.

Growing consumer awareness towards reusable products and sustainable packaging has led to major economies such as EU to focus on improving recycling rates as well as strategic plans to increase recyclable content in the packaging by the end of 2030.

Recycled plastic companies developing new technologies for better recycling with huge investment in the space of chemical recycling techniques across Europe and other developed economies.