Post-consumer Recycled Plastics Market 2020 and Forecast 2021-2027

                                          
Report Overview: Post-consumer Recycled Plastics Market


The global post-consumer recycled plastics market size was valued at USD 7.65 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 10.5% from 2021 to 2027. Increasing plastic consumption in the manufacturing of lightweight components, which are used in various industries including construction, automotive, and food processing, is projected to support the growth of the market over the forecast period 2021-2027. Amid the global COVID-19 pandemic situation, demand for various packaging products has increased owing to the rise in the online purchase of electrical and electronics, cosmetics, personal care products, and personal protective equipment products, such as gloves, face mask, and various products. This, in turn, is driving the demand for post-consumer recycled plastics in packaging applications.

Stringent regulations on post-consumer plastic recycling in China, which accounts for a significant share in the plastic recycling industry, is driving the plastic recyclers to shift to Southeast Asian countries, such as Malaysia and Indonesia. With the growing purchasing power and disposable income in the Southeast Asian countries, automotive, building and construction, and packaging industries are anticipated to generate the demand over the forecast period owing to the ability of plastic to replace the conventional metal and wooden parts in the vehicle. The development of residential, industrial, commercial, and public infrastructure is further aiding market growth.

Growth of the construction industry in emerging markets, such as Brazil, China, India, and Mexico, is expected to generate the demand for post-consumer recycled plastics in the manufacturing of components, such as insulation, fixtures, and safety products, such as safety vest and belts and gloves over the forecast period.

Growth of the recycled plastic in the personal protective equipment market can be attributed to increased foreign investment in the construction markets of the above-mentioned countries as a result of easing FDI norms and requirements for redevelopment of public and industrial infrastructure.
Source Insights

The bottle source segment led the market and accounted for more than 70.0% share of the global revenue in 2019. Plastics bottles are the major sources of post-consumer recycled products. Plastic bottles are used in various applications across various industries in the packaging of water, oils, pharmaceuticals, and carbonated drinks. SKS Bottle & Packaging, Inc., CABKA Group, Maynard & Harris Plastics, and Placon are some of the key post-consumer recycled plastic bottle manufacturers.

The non-bottle rigid source includes post-consumer plastic foam and sheets, which is widely used in packaging. Expanded polystyrene is the most common type of post-consumer recycled plastic foam. Automobile and electrical and electronics manufacturers, such as Panasonic Corporation; SONY Electronics Inc., Ltd.; Hitachi, Ltd.; and Honda Motor Company Ltd., are moving toward adoption of post-consumer recycled plastics foam over virgin plastics.

Type Insights: Post-consumer Recycled Plastics Market

The polyethylene type segment led the market and accounted for more than 20.0% share of the global revenue in 2019. This is attributed to its properties such as excellent resistance to chemicals, such as solvents, alcohols, alkalis, and dilute acids. Polyethylene is primarily used to produce films, tubes, laminates, and plastic components, which are used in various industries, such as packaging, electrical and electronics, and automotive.

Polypropylene is extensively used in manufacturing automotive components, packaging and labeling, medical devices, and diverse laboratory equipment owing to its excellent chemical and mechanical properties. It is resistant to several chemical solvents, acids, and bases and has excellent mechanical strength. It is used in the manufacturing of plastic hinges, piping systems, consumer goods, floor mats, carpets, and rugs among various other applications. Rising demand for the products will generate the demand for post-consumer recycled polypropylene over the forecast period.

Polystyrene is the fastest-growing type segment in the market. Rising demand for polyester can be attributed to rising demand for enclosures, containers, and water tanks in various industries, such as packaging, electrical and electronics, and construction. It is resistant to photolysis and hence is non-degradable in nature. In addition, conventional polystyrene production contributes to global warming way higher than carbon dioxide emissions. These factors have been a basis for the formulation of various policies aimed at recycling post-consumer recycled polystyrene in takeaway containers (food packaging).

Demand for post-consumer recycled polystyrene in packaging applications is expected to increase significantly, particularly in developing nations of Africa and Asia Pacific. Polystyrene is widely used in the automotive sectors for bumper cores, roof liners, sun visors, car seating, and under bonnet sound deadening.

Regional Insights: Post-consumer Recycled Plastics Market

Asia Pacific lead the market and accounted for over 45% share of global revenue in 2019. The construction industry in Asia Pacific is expected to witness considerable growth in the years to come owing to increasing demand for non-residential construction projects, such as hospitals, schools, and colleges, over the forecast period. This, in turn, will generate the demand for personal protective equipment products, such as safety vests, helmets, safety belts, and various other products, thus propelling market growth.

Europe emerged as the second-largest regional market in 2019. The market is driven by the adoption of circular economy practices to reduce the carbon footprint associated with plastic production by increasing the post-consumer plastic recycling in the region.

Landfill bans have resulted in weak production growth in European countries owing to the growing post-consumer plastic recycling industry. As landfill taxes in some European countries are extremely high, the cost of dumping sometimes becomes more expensive as compared to plastic recycling. This scenario is encouraging the involvement of the European population in the collection and recycling of post-consumer plastics.

North America ranks third in terms of revenue. The market is driven by the growth of the major end-use industries, such as electrical and electronics, construction, and packaging. Rising demand for packed and processed food and the rising construction industry in the U.S., Mexico, and Canada are anticipated to augment market growth in the near future.

Key Companies & Market Share Insights: Post-consumer Recycled Plastics Market

The market is fragmented with the presence of various small-sized and medium-sized players. Companies in the market compete on the basis of technology used for the recycling of post-consumer plastic waste. Major players are involved in the expansion of their plastic recycling facilities, infrastructural development, investments in research and development facilities, and seeking opportunities to vertically integrate across the value chain. These initiatives help them cater to the increasing global recycled plastics demand, ensure competitive effectiveness, enhance their operations planning, develop innovative products and technologies, bring down their recycling costs, and expand their customer base. Some of the prominent players in the post-consumer recycled plastics market include:

Key companies Profiled: Post-consumer Recycled Plastics Market Report

 	
REMONDIS SE & Co. KG
 	
 Biffa
 	
Stericycle
 	
Republic Services, Inc.
 	
WM Intellectual Property Holdings, L.L.C.
 	
Veolia
 	
Shell International B.V.
 	
Waste Connections
 	
CLEAN HARBORS, INC.
 	
Covetsro AG

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global post-consumer recycled plastics market report on the basis of source, type, and region:

Source Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

 	
Bottles
 	
Non-bottle Rigid
 	
Others

Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

 	
Polypropylene (PP)
 	
Polystyrene (PS)
 	
Polyethylene (PE)
 	
Polyvinyl Chloride (PVC)
 	
Polyurethane (PUR)
 	
Polyethylene Terephthalate (PET)
 	
Others