The global recycled plastics market is projected to expand from USD 85.90 billion in 2025 to USD 149.25 billion by 2032, recording a CAGR of 8.2% between 2024 and 2032. Rising concerns over plastic pollution and the energy efficiency of recycled plastics compared to virgin materials are key growth drivers.
Industry Applications:
Recycled plastics are widely used in packaging, textiles, building & construction, automotive, and electrical & electronics, supporting sustainable production practices across industries.
Market Insights:
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By Plastic Type: Polyethylene terephthalate (PET) will dominate due to its ability to be recycled repeatedly. PET finds applications in food & beverage packaging, construction, and textiles, including polar fleece clothing, carpets, and backpacks.
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Regional Outlook: Europe ranks as the second-largest market, supported by EU regulations restricting single-use plastics, recycling targets of 50% for packaging by 2025, and growing government and VC-backed initiatives.
Key Players include Alpek (Mexico), Biffa (UK), Cabka (Germany), Far Eastern New Century Corporation (Taiwan), Indorama Ventures (Thailand), and Jayplas (UK).
The report features 329 data tables, 56 figures, and 292 pages of analysis, providing in-depth insights into market opportunities.
