Recycled Plastic
The recycled plastic market encompasses the collection, processing, and re-use of plastic materials, transforming waste into high-quality raw materials for manufacturing. The scope covers various polymer types such as PET (polyethylene terephthalate), HDPE (high-density polyethylene), LDPE (low-density polyethylene), PP (polypropylene), and PVC (polyvinyl chloride).
Market Size & Scope: As of 2024, the recycled plastic market is estimated to be valued at USD 45–50 billion globally, with projections indicating it could surpass USD 75–80 billion by 2030.
Historical Trends: The industry has evolved significantly over the past two decades, initially driven by environmental activism and later reinforced by legislation. Historically, Asia dominated recycling operations due to lower labor costs and growing plastic consumption. However, recent supply chain shifts have made recycling a global business imperative.
Demand-Supply Dynamics: Demand for recycled plastics is outpacing supply. While consumer brands pledge to use more recycled content, challenges in collection, contamination, and processing capacity restrict output. This mismatch has led to premium pricing for high-quality recycled polymers compared to virgin plastics.
